Are you saving for retirement or just looking for the highest rate of return on your investment? Either way, SD Medical can help. We offer regular IRA share accounts and IRA share certificate accounts, as well as numerous terms on regular share certificate accounts. Check our current rates… we know you will find them extremely competitive. If you need help in determining how much to money to save each year in order to achieve your financial goals, visit our online Retirement Wizard®.
Our regular share certificate accounts are offered for 6 months, 1-year, and 2-year terms. We are currently offering special certificates with terms of 9 months, 3 years and 5 years. Dividends are computed on the daily balance and compounded and credited to accounts monthly. There are two minimum balances offered to best meet your savings goals… $1,000 and $10,000. To see rates - click here.
The key to your long-term savings can be found with an SD Medical IRA. We offer several IRA accounts to choose from including: Traditional, Education, and Roth IRAs.
IRA Share Accounts
The dividends on our IRA share accounts are computed on the daily balance and are compounded and credited to the account monthly. This account complies with all Internal Revenue Service rules for IRAs. The IRA share accounts are not term accounts and the funds can be withdrawn, although you may be subject to IRS penalties.
Roth IRA Accounts
This IRA account offers a different type of tax advantage than the standard IRA because the interest is tax-free. (Please consult a tax advisor for more information.)
Education IRA Accounts
Parents or grandparents can contribute up to a specified amount per year per child (beneficiary) into this IRA. Contributions can be made until the child reaches age 18 and must be withdrawn by the time the child reaches age 30.
IRA Share Certificate Accounts
If you know you will not be using the funds in your IRA for a predetermined amount of time, the IRA share certificate account may be your answer. This term account pays a higher rate than the IRA share account. The terms offered are 6 months, 9 months, 1 year, 2 years, 3 year and 5 year. The IRA share certificate account earns and credits dividends the same way the regular share certificate account does, and it also complies with all IRS rules for IRAs. The minimum amount to open is $2,500.
Please contact our IRA Specialist for more detailed information on any of these accounts.
