Roth IRA

Roth IRA

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A Roth IRA is an individual retirement account to which you contribute after-tax dollars. While there are no current-year tax benefits, your contributions and earnings can grow tax-free, and you can withdraw them tax and penalty-free after age 59½ and once the account has been open for five years.

Features of a Roth IRA include:

  • No Age Limit
  • Earned income at least equal to IRA contribution; income ceiling depends on filing status*
  • No distribution requirements; entire account can pass to heirs
  • Contributions are not tax-deductible
  • Earnings grow tax-deferred
  • Qualified distributions are tax-free
  • Max. Annual Contributions $7,000; $8,000 for workers age 50 and older
Effective Date: Friday April 26, 2024
$1,000 Minimum to OpenReliance CheckingReliance CheckingRelationship CheckingRelationship CheckingPlatinum & Performance CheckingPlatinum & Performance Checking
TermRateAPYRateAPYRateAPY
3 Months
$1,000 – $24,9990.650%0.65%0.700%0.70%0.750%0.75%
$25,000 – $99,9990.950%0.95%1.000%1.00%1.050%1.05%
$100,000 – $499,9991.050%1.05%1.100%1.10%1.150%1.15%
$500,000 or more1.150%1.15%1.200%1.20%1.250%1.25%
6 Months
$1,000 – $24,9990.847%0.85%0.897%0.90%0.947%0.95%
$25,000 – $99,9990.947%0.95%0.996%1.00%1.046%1.05%
$100,000 – $499,9991.046%1.05%1.095%1.10%1.145%1.15%
$500,000 or more1.145%1.15%1.195%1.20%1.244%1.25%
9 Months
$1,000 – $24,9990.947%0.95%0.996%1.00%1.046%1.05%
$25,000 – $99,9990.947%0.95%0.996%1.00%1.046%1.05%
$100,000 – $499,9991.046%1.05%1.095%1.10%1.145%1.15%
$500,000 or more1.145%1.15%1.195%1.20%1.244%1.25%
12 Months
$1,000 – $24,9990.947%0.95%0.996%1.00%1.046%1.05%
$25,000 – $99,9991.046%1.05%1.095%1.10%1.145%1.15%
$100,000 – $499,9991.145%1.15%1.195%1.20%1.244%1.25%
$500,000 or more1.244%1.25%1.294%1.30%1.343%1.35%
18 Months
$1,000 – $24,9990.947%0.95%0.996%1.00%1.046%1.05%
$25,000 – $99,9991.046%1.05%1.095%1.10%1.145%1.15%
$100,000 – $499,9991.145%1.15%1.195%1.20%1.244%1.25%
$500,000 or more1.244%1.25%1.294%1.30%1.343%1.35%
24 Months
$1,000 – $24,9990.947%0.95%0.996%1.00%1.046%1.05%
$25,000 – $99,9991.046%1.05%1.095%1.10%1.145%1.15%
$100,000 – $499,9991.145%1.15%1.195%1.20%1.244%1.25%
$500,000 or more1.244%1.25%1.294%1.30%1.343%1.35%
30 Months
$1,000 – $24,9991.046%1.05%1.095%1.10%1.145%1.15%
$25,000 – $99,9991.145%1.15%1.195%1.20%1.244%1.25%
$100,000 – $499,9991.244%1.25%1.294%1.30%1.343%1.35%
$500,000 or more1.343%1.35%1.393%1.40%1.442%1.45%
36 Months
$1,000 – $24,9991.046%1.05%1.095%1.10%1.145%1.15%
$25,000 – $99,9991.145%1.15%1.195%1.20%1.244%1.25%
$100,000 – $499,9991.244%1.25%1.294%1.30%1.343%1.35%
$500,000 or more1.343%1.35%1.393%1.40%1.442%1.45%
48 Months
$1,000 – $24,9991.095%1.10%1.145%1.15%1.195%1.20%
$25,000 – $99,9991.195%1.20%1.244%1.25%1.294%1.30%
$100,000 – $499,9991.294%1.30%1.343%1.35%1.393%1.40%
$500,000 or more1.393%1.40%1.442%1.45%1.492%1.50%
60 Months
$1,000 – $24,9991.095%1.10%1.145%1.15%1.195%1.20%
$25,000 – $99,9991.195%1.20%1.244%1.25%1.294%1.30%
$100,000 – $499,9991.294%1.30%1.343%1.35%1.393%1.40%
$500,000 or more1.393%1.40%1.442%1.45%1.492%1.50%
84 Months
$1,000 – $24,9991.294%1.30%1.343%1.35%1.393%1.40%
$25,000 – $99,9991.393%1.40%1.442%1.45%1.492%1.50%
$100,000 – $499,9991.442%1.45%1.492%1.50%1.541%1.55%
$500,000 or more1.541%1.55%1.590%1.60%1.640%1.65%
120 Months
$1,000 – $24,9991.294%1.30%1.343%1.35%1.393%1.40%
$25,000 – $99,9991.393%1.40%1.442%1.45%1.492%1.50%
$100,000 – $499,9991.442%1.45%1.492%1.50%1.541%1.55%
$500,000 or more1.541%1.55%1.590%1.60%1.640%1.65%

2 All CDs are auto-renewable; penalty may be imposed for early withdrawal.

Need help?

For more information or questions, please contact us by phone at 1-800-388-4380 or email us at Fidelity@fddbank.com.

* If you participate in an employer-sponsored retirement plan, tax deferment of contributions to a Traditional IRA depends on your Modified Adjusted Gross Income (MAGI) and your tax-filing status.

For Modified Adjusted Gross Income (MAGI) Limits for Roth IRAs contact your Financial Advisor.

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