FIXED RATE IRA

You select the BSV Certificate of Deposit term for your Fixed Rate IRA, beginning with the six-month certificate. Once you lock in the rate, it remains constant for the term of the certificate.

The amount invested must meet or exceed the minimum opening deposit requirement for the type of certificate chosen.

When a Fixed Rate IRA is opened, the type of certificate chosen for investment determines the guidelines for minimum opening deposit, interest rate, compounding method, maturity date, frequency with which interest is added to the current value of the IRA, and early withdrawal penalty. You may deposit funds for the previous year until April of the current year.

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VARIABLE RATE IRA

A Variable Rate allows money to be deposited into an IRA account at any interval chosen by the owner.

The Variable Rate IRA Certificate bears maturity date of 18 months from the first deposit. Interest is compounded continuously and added to the current value of the account monthly. A penalty of 3 months interest is assessed for early withdrawal. You may deposit funds for the previous year until April 15 of the current year. Also the rate may change after the account is opened.

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ROTH IRA

The Roth IRA is a non-deductible IRA that provides for tax-deferred earnings. Distributions from a Roth IRA held for at least five years are tax free.

The Roth IRA is available to married couples and single fillers who meet the income requirements. Individuals must have earned income in an amount equal to or greater than their IRA contribution.

The age 701/2 mandatory distribution requirements do not apply to Roth IRAs.

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EDUCATION IRA

With an Education IRA parents and others can save for children's education. Contributions to are not tax deductible. However, the earnings do grow tax deferred. Distributions used to pay for qualified education expenses are tax free.

Education IRAs are only available to children under the age of 18. The funds must be used by the time the beneficiary is age 30. If not used prior to that time, the funds can be taxed and are subject to a penalty. Money can be transferred to another family member for education expenses.

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