CDs & IRAs


Chiphone offers Traditional, Roth, and Educational IRAs. IRAs can be opened through transferring of funds or qualified plan rollovers.  Most common are the traditional and Roth IRAs, which can be in the form of clubs or CDs.  All IRAs are interest bearing accounts.  IRAs may be assessed an annual fee, transfer fee, and termination fee.  Effective 12/1/2011

Individual Retirement Accounts (IRAs) are great tools to help you stockpile your money, all the while earning great dividends.  Certificates of Deposit IRAs can be opened with just $500 with terms ranging from 3-60 months!  You may deposit funds at any time, up to the IRS limits.  No minimum balance required.

Traditional IRA

With a Traditional IRA, deposits, or contributions, are tax-deductible. So you pay less income tax in the year contributions are made. Your earnings always grow tax-deferred which means taxes are only paid when the money is withdrawn from the IRA.

Roth IRA

With a Roth IRA, contributions are nondeductible and taxed in the year they are earned. The Roth IRA features tax-free withdrawals for certain distribution reasons after a five-year holding period.

Educational IRA 

An education IRA is a tax-advantaged investment account for higher education, now more formally known as a Coverdell Education Savings Account (ESA). Under this educational savings vehicle, parents and guardians are allowed to make nondeductible contributions to an education individual retirement account (IRA) for a child under the age of 18.



It’s always a wise investment when you choose one of our Certificates of Deposit (CDs). If you can leave your savings alone for a specific period of time, a Certificate of Deposit (CD) could be the right choice for you. They pay competitive rates and are easy to set up.


  • $500 minimum balance required
  • Offered at terms ranging from 91 (days) through 60 months
  • Interest compounds daily and credited monthly to your certificate or savings account
  • Substantial penalty for early withdrawal
  • Promotional Certificate Rate Specials
  • IRA and Certificates may be assessed an Annual Fee, Transfer Fee, and Termination Fee.  Effective 12/1/2011

Certificate Rates

Certificate TermAPYMinimum Deposit
91 DAY 1.49%1.50%$500.00
6 MONTH 5.12%5.25%$500.00
24 MONTH 4.40%4.50%$500.00
36 MONTH 4.16%4.25%$500.00
48 MONTH 3.92%4.00%$500.00
60 MONTH 3.92% 4.00%$500.00
3 MONTH IRA 1.49%1.50%$500.00
6 MONTH IRA 5.12%5.25%$500.00
12 MONTH IRA 5.12% 5.25%$500.00
18 MONTH IRA4.40%4.50%$500.00
24 MONTH IRA 4.40%4.50%$500.00
36 MONTH IRA 4.16%4.25%$500.00
48 MONTH IRA 3.92%4.00%$500.00
60 MONTH IRA 3.92%4.00%$500.00

Dividend rates declared monthly

A penalty will/may be imposed for early withdrawal.

*Annual Percentage Yield; Rates are subject to change without notice.