TCF® Individual Retirement Accounts (IRAs)
TCF has several options that will help you achieve your retirement goals. An IRA can be a great way to save for retirement even if you are currently contributing through an employer plan. TCF makes your choices easy to understand with the chart below.
Maximum annual contribution limits apply. Early withdrawals may be subject to a penalty. Consult a tax and/or legal advisor for guidance and information that fits your situation.
Retirement Account Comparisons
|Roth IRA Cash Management Account||Roth IRA Certificate of Deposit||Traditional TCF IRA Savings Account||Traditional IRA Certificate of Deposit|
|Minimum opening deposit||$50||$500||$50||$500|
|No monthly maintenance fees||varies by state||✔||✔||✔|
|Tax free withdrawals at retirement||✔||✔|
|Potential for annual tax deductions as you contribute1||✔||✔|
|Make deposits throughout the year2||✔||✔|
|A range of terms with guaranteed fixed rates||✔||✔|
|Permissible in addition to a retirement plan through your employer||✔||✔||✔||✔|
Visit the IRS website to learn more about the New IRA One-Rollover-Per-Year-Rule.
To open any of the IRAs described above and for rate information, visit a TCF Bank location today.
For additional information, including distribution information, visit a TCF Bank location or contact a TCF representative by phone at 1-800-TCF-BANK.
1Consult a tax and/or legal advisor for guidance and information on which account fits your situation. Income restrictions and limits apply. Refer to the IRS website.
2The maximum you can contribute each year to all of your Traditional and Roth IRAs is the lesser of $5,500 ($6,500 if you're age 50 or older), or your taxable compensation for the year. Income restrictions and limits apply.