Welcome to Summit Community Bank

IRA

Individual Retirement Account
Any one of our Individual Retirement Accounts will help you plan for your future. The IRA Certificate of Deposit allows you to invest your funds in the term and interest rate you choose. We offer Traditional Roth and SEP IRAs. All IRAs have annual contribution limits and government restrictions.

	IRA
Minimum to Open	$500
Minimum to Earn Interest	N/A
Minimum Balance Requirement	N/A
Monthly Fees	None
Restrictions	3 month interest penalty for early withdrawal for accounts with terms between 1 and 11 months. 6 month interest penalty for terms between 12 and 35 months. 9 month interest penalty for terms between 36 and 60 months. 12 month interest penalty for terms over 60 months.
Interest	Compounded Quarterly
How Interest is Calculated	Daily Balance
Please contact us to obtain complete disclosures of all fees related to these accounts.