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CDs & IRAs

Earn Long-Term Interest On Your Money

BCB Community Bank offers a wide variety of CDs and IRAs to match your needs.

Certificates of Deposit (CDs)

If you're looking to earn a higher interest rate, consider opening a CD. With a CD, your savings are invested at a set rate for a specified period of time. You'll typically receive a higher interest rate on CDs with longer terms. Early withdrawal penalties may apply.
 
 Account Minimum Opening Deposit Interest Rate Annual Percentage Yield
6 Month $500 0.20% 0.20%
12 Month $500 0.45% 0.46%
24 Month $500 0.75% 0.76%
36 Month $500 1.00% 1.01%
*42 Month $500 2.00% 2.00%
48 Month $500 1.19% 1.22%
60 Month $500 1.39% 1.42%

Tax Deferred IRAs

Plan for your future

Tax-deferred Individual Retirement Accounts (IRAs) are excellent for preparing for retirement. BCB offers Traditional and Roth IRAs which provide tax-deferred savings, allowing your retirement savings to grow. We also offer tax-deferred Educational IRAs for your future education needs.

With FDIC insurance up to $250,000 and free and flexible distribution options, IRAs are a great way to fund your retirement savings plan. Whether you want a Traditional, Roth, or Education IRA, BCB will help you plan successfully while maximizing your tax-free savings.

Traditional IRA
  • Contributions are tax-deferred until withdrawal
  • May be eligible to deduct contributions on current tax returns
  • Penalty-free early withdrawal for certain expenses
Roth IRA
  • Qualified distributions will be tax free and penalty free
  • Enjoy tax deferred earnings as well as tax free distributions
  • Penalty-free early withdrawal for certain expenses
Education Savings Account (ESA)
  • Maximum annual contribution of $2,000 per child
  • Individuals and non-individuals may contribute, including relatives, friends, corporations, and tax-exempt organizations (must be age 18 or older to contribute)
  • Distributions are tax-free provided they do not exceed qualified education expenses incurred at an eligible education institution qualified elementary, secondary, and higher education expenses
  • Funds can be transferred to another ESA for a member of the same family, provided the new beneficiary is younger than age 30 (with the exception of a special needs individual)
Tax-Deferred IRAs Details
Minimum Term 12 Months
Minimum Deposit Required to Open An Account $500.00
Minimum balance to obtain
Annual Percentage Yield
$500.00 
Early Withdrawal IRS may impose additional penalties for early withdrawals


Additional Important Details

Annual percentage yield assumes interest remains on deposit, withdrawals of interest will reduce earnings.

The interest for your account will be paid at maturity automatically, renewing at its maturity date. 
*Except for the 42 month IRA - See a representative for details. 

You will have seven calendar days from maturity date to withdraw your funds or your certificate will automatically rollover.

If any deposit is withdrawn before the maturity date, a penalty is applied. A loss of three months interest on Certificates of Deposit with maturities under 12 months and a loss of 6 months interest on all Certificates of Deposit with maturities of 12 months and over.

Additional deposits can be made in increments of $500 or greater on Certificate of Deposits with some exceptions.  See a representative for details.

Increments of $100 or greater are allowed on any IRA term as long as the account doesn't exceed yearly contribution limit.

Fees could reduce earnings on the account.

Other IRA terms are available.

Penalties may be applied for early withdrawal.




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Passbook Loans
Borrow against the savings you have in your passbook account for any purpose - maybe even that long awaited vacation!