Discover Bank Product Helps Americans Preserve Retirement Funds
02 Aprile 2009 - 1:07PM
Business Wire
Americans nearing retirement who want more peace of mind than
their equities-based individual retirement accounts can provide
have at least one surefire option to get a guaranteed return: IRA
CDs.
�If you�ve worked hard to build a nest egg and you�re seeing it
slip away in this economy, you don�t need more uncertainty from the
markets,� said Christina Favilla, president of Discover Bank. �A
Discover IRA CD provides a fixed rate of return and a variety of
terms to meet your future retirement needs.�
Discover Bank offers both traditional and Roth IRA CDs, and the
convenience of online account opening with the ability to fund your
account through an automated transfer of funds. IRA CDs work much
like traditional CDs, in which principal is protected and interest
is fixed during the term. Discover Bank pays competitive rates that
consistently exceed the national average of the top 50 U.S. banks,
according to Informa Research Services.
Other benefits:
- Transfer funds from a
traditional IRA or rollover funds from a 401K to an IRA CD.
- Enjoy contribution limits of up
to $5,000 for people under 50, and $6,000 for those over 50.
- Choose flexible terms from 3
months to 10 years.
- Rest easy with FDIC protection
for up to $250,000 per account.
- Calculate your savings growth
with online tools.
- Select between a Roth or
Traditional IRA CD.
�IRA CDs have been in the market for some time, but perhaps the
growing uncertainty in the economy makes them more essential these
days to people nearing retirement,� Favilla said. �People want to
stop seeing their retirement investments disappear and in return
are looking for security, peace of mind and a guaranteed
return.�
For more information, visit
http://www.discoverbank.com/ira-cd.html.
About Discover Bank
Discover Bank is one of the 100 largest banks in the United
States and an affiliate of Discover Financial Services (NYSE: DFS).
It offers certificates of deposit, money market deposit accounts
and other consumer financial products and services. Founded in
1911, Discover Bank is FDIC-insured and chartered under the laws of
the State of Delaware. The bank maintains a branch in Greenwood,
Delaware, with deposit, finance and credit card operations in New
Castle, Delaware. For more information, visit
www.discoverbank.com.
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