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Home > Personal > Savings > Comparison Chart

Comparison Chart



 

CNBEAR SAVINGS CLUB ACCOUNT

EZ SAVINGS ACCOUNT

SAVINGS
ACCOUNT

ALL PURPOSE
CLUB

HEALTH SAVINGS ACCOUNT

MINIMUM BALANCE

None None $100 $10 $50

SERVICE CHARGE

None

None

Low, quarterly if minimum balance not maintained

Make up to 4 withdrawals per calendar year with no service charge

 

INTEREST

Earn interest Earn interest Earn interest Earn interest Earn interest

and...

Age 0-10

Balance Achievement Awards
Age 11-24 ATM or CheckCard accessible Make up to 4 withdrawals per calendar year with no service charge Qualified individuals are covered by a high deductible health plan
 
Maximum annual contri-butions are based on the annual statutory limit
 
No IRS penalty or federal income taxes for withdrawal for qualified medical expenses



 

CERTIFICATES OF DEPOSIT

TRADITIONAL IRA SAVINGS ACCOUNT

TRADITIONAL IRA CERTIFICATE OF DEPOSIT

ROTH IRA SAVINGS ACCOUNT

ROTH IRA CERTIFICATE OF DEPOSIT

COVERDELL EDUCATION CERTIFICATE OF DEPOSIT

MINIMUM BALANCE

$500 $100 $2,000 ($2,500 for 7 year terms) $100 $2,000 ($2,500 for 7 year terms) $2,000

SERVICE CHARGE

           

INTEREST

Earn interest Earn interest Earn interest Earn interest Earn interest Earn interest

and...

Terms available from 1 month to 5 years Make deposits at your own pace (Subject to annual contri-bution limits)

$1000 catch-up contribution for IRA holders age 50 or over
Annual contribution amounts (subject to limits)
 
Terms available from 1 to 7 years
Make deposit at your own pace (Subject to annual contribution limits)
 
IRA holders age 50 or older eligible for catch-up contributions
 
No IRS penalty or Federal Income Taxes for withdrawal of regular principal contribution prior to age 59 ½
 
No required minimum distributions
Annual contribution amounts (subject to limitations)
 
No IRS penalty or Federal Income Taxes for withdrawal of regular principal contribution prior to age 59 ½
 
No required minimum distributions
 
Terms available from 1 to 7 years
Terms available from 1 to 7 years
 
Make contri-butions (not to exceed $2000 annually) on behalf of a minor until the day before their 18th birthday (exception: beneficiaries with special needs)


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