Last Updated: 04/18/2025
Ponce Bank IRA Certificates of Deposit
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in CD Accounts from Ponce Bank
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
4.40% - 2.60%(Verified 06/21/2024)
Minimum Opening Deposit
$0
Certificate Term
- 1 month
- 3 months
- 6 months
- 12 months
- 18 months
- 2 years
- 3 years
- 4 years
- 5 years
Ponce Bank IRA Certificates of Deposit Review
Ponce Bank IRA Certificates of Deposit are offered by Ponce Bank, a bank founded in 1960 and based in Bronx, NY. Ponce Bank IRA Certificate of Deposit are available in 50 states and Washington, DC.
Key Takeaways
- Small selection of CD account types. Ponce Bank IRA Certificate of Deposit only offers IRA and traditional CDs.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 2.60%, which is much higher than the national average for a CD account.
- No minimum initial deposit. There is no minimum balance required to open an account.
- Wide selection of CD terms. Ponce Bank IRA Certificate of Deposit allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.
Pros & Cons of Ponce Bank IRA Certificates of Deposit
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Ponce Bank IRA Certificates of Deposit FAQ
Are CD from Ponce Bank federally insured?
No, your Ponce Bank CD accounts are not insured by a federal insurance agency. This means that if Ponce Bank were to fall into financial difficulties, your deposits are not covered by a government-backed insurance fund like the FDIC or NCUSIF.
What types of CDs does Ponce Bank offer?
Ponce Bank IRA Certificate of Deposit provides the following types of CDs.- Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.
- IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but Ponce Bank IRA Certificate of Deposit offers a CD that is specifically for retirement.
What rates does Ponce Bank offer on its CDs?
Ponce Bank IRA Certificate of Deposit offers an APY starting at 4.40% and ranging up to 2.60%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.
What terms does Ponce Bank IRA Certificate of Deposit offer?
Ponce Bank offers CD terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Month APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12-Month APY | 4.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 4.40% - 2.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 3.80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 4.40% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 2.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4-Year APY | 2.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-Year APY | 3.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 18-Month APY | 4.27% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with Ponce Bank?
Ponce Bank IRA Certificate of Deposit does not require a minimum deposit.
What is the grace period for Ponce Bank IRA Certificate of Deposit?
Ponce Bank IRA Certificate of Deposit does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.
What types of fees, such as early withdrawal penalties, does Ponce Bank charge?
Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.
Ponce Bank charges an early withdrawal fee.
Ponce Bank does charge any of the fees we track.
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Contact
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 6:00PM
Saturday
9:00AM - 1:00PM