IRAs

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Competitive interest rates and possible tax advantages make a MetLife Bank Individual Retirement Account (IRA) an excellent way to help plan for a comfortable retirement or for educational needs. MetLife Bank IRA Accounts have no annual maintenance fees and are FDIC insured. (How much FDIC insurance can I get?)

What types of IRAs can I choose from?
  • Traditional IRA — Contributions to your traditional IRA may be tax-deductible, and your money grows tax-deferred. You can use traditional IRAs to roll over from other IRAs and certain types of employer-sponsored retirement plans if you have an employment change. You should consult your tax advisor for any potential tax implications before establishing or making contributions to an IRA.
  • Roth IRA — Contributions to your Roth IRA are made from your after-tax income. Withdrawals may be considered tax-free if your funds remain in the Roth IRA for five years and you have reached the age of 59-1/2.
  • Coverdell Education Savings Account (CESA) — Grow savings for tuition, books and fees, and withdraw your money tax-free with a Coverdell Education Savings Account. Funds can be used for any public, private or religious school that provides elementary or secondary education, as well as colleges and vocational schools.

Apply for an IRA Now

IRA Money Market Account

Deposit Amount APY* (as of 11/28/11)
Up to $4,999 0.15%
$5,000-$9,999 0.25%
$10,000-$24,999 0.65%
$25,000+ 0.75%

IRA Certificates of Deposit Rates as of: 11- 28- 11

Term $2,000 - $14,999 $15,000 - $24,999 $25,000 - $49,999 $50,000 +
3 Months0.25%0.35%0.45%0.50%
6 Months0.35%0.55%0.65%0.70%
9 Months0.40%0.65%0.70%0.80%
12 Months0.80%0.90%1.00%1.00%
18 Months0.75%0.75%0.75%0.75%
24 Months0.75%0.75%0.75%0.75%
36 Months0.75%0.75%0.75%0.75%
48 Months0.75%0.75%0.75%0.75%
60 Months0.75%0.75%0.75%0.75%

All rates are Annual Percentage Yield(APY*)

  • Or call us at 1-866-BankMet (1-866-226-5638) or
  • Download an application you can print and return by mail with your initial deposit
  • Contact MetLife Bank to apply for a Coverdell Education Savings Account

Customer Service

IRA FAQs

 
Can I transfer my IRA at another financial institution to MetLife Bank?

Yes, a MetLife Bank IRA is a great way to consolidate other IRAs and 401(k) plan rollovers. Please contact a Banking Advisor at 1-866-BankMet (1-866-226-5638) to learn more. Access our downloadable IRA forms.

 
What is the maximum annual contribution I can make to a MetLife Bank IRA?

You may be able to contribute up to $5,000 a year ($6,000 if you are over age 50) for the tax year 2008, as long as that money is considered earned income. You should consult your tax advisor for any potential tax implications before establishing or making contributions to an IRA.

 
What is the deadline for making a regular contribution that is to be applied to the prior tax year?

The envelope in which your deposit is mailed must be postmarked by the tax filing deadline, usually April 15th.

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