Individual Retirement Accounts (IRAs)

Looking to build a long term retirement savings plan with the benefits that may give you a tax advantage?

Personal Individual Retirement Account (IRAs)

Metropolitan CD IRAs are one of the safest ways to save for retirement, as they are FDIC insured and offer steady returns.

  • No annual service charge.
  • For distribution charges, refer to schedule of charges.
  • No Service Charge on mandatory distribution age of 72 years old.
  • Individual Retirement Accounts are free.
  • Up to $6,000 a year tax deferred contribution for a single person; $10,000 for a couple. If age 50 years & older, the limit increases to $7,000 per person.
Minimum Balance to OpenMonthly Maintenance ChargePer Item ChargeMinimum Average Daily Balance Requirement to Waive Monthly Maintenance Charge
$1,000NoneNot ApplicableNot Applicable

Checking, Savings and Certificates of Deposits at Metropolitan Bank are insured by the Federal Deposit Insurance Corporation, an agency of the United States Government. Each depositor is insured up to $250,000. Coverage of a higher amount is possible by opening accounts using more than one type of ownership or by opening an account under the Bank’s special CDARS program.

Information is effective January 1, 2020 and is subject to change from time to time without notice.