Simplified Employee Pension IRA

SEP certificates of deposit:

• $500 minimum deposit to open
• Terms ranging from seven days to 10 years
• 10-day grace period
• Automatic renewal with interest credited to the account becoming part of the principal for the next term
• Low annual fee of $5 that covers all accounts under the retirement plan
• Distributions without penalty if you are over the age of 59½
• FDIC-insured account¹

SEP savings account:

The SEP savings account is for those who want to save for retirement in small increments. Deposits can be made at any time.

• $50 initial deposit is required at the time the account is established
• Low annual fee of $5 covers all accounts under the retirement plan
• Interest paid monthly
• Direct deposit available
• Ability to make additional deposits at any time
• FDIC-insured account¹