All savings accounts are also offered as Traditional IRA Plus, Roth IRA Plus, Coverdell Education Savings Account (ESA), and SEP savings accounts. In addition, prior to opening an IRA savings account (Traditional, Roth, SEP) or Coverdell ESA savings account, you must have or establish an IRA or Coverdell ESA with GTE Financial. Dividends compound monthly and are paid on the last day of the month. You can withdraw up to 10% of the principal plus dividends one time per year (20% of the current balance if over 59 1/2 years old) with no early withdrawal penalty on IRA savings accounts. Any monthly withdrawals or transfers reduce earnings. Neither the primary account owner or joint owner may be a beneficiary on the savings account (not applicable on IRAs and Coverdell ESAs). Savings account rates may change weekly. You are not locked into a rate until you open or renew your savings account.
*APY=Annual Percentage Yield as of January 1, 2016.