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Bank of Newington
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Personal Banking

CDs & IRAs

 

CDs
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We offer some of the Most Competitive CD rates you’ll find anywhere. Featuring a variety of maturity terms, interest reinvestment or monthly interest payment options… And, of course, there is always room to negotiate. We don’t have to seek approval from anyone in North Carolina in order to get you a competitive CD rate. We can take care of you right here.

 

 

 

IRAs
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We offer both Traditional and Roth IRAs. Our IRAs are secured just like a CD. Our bank maintains these accounts, right here, in house. We don’t dabble in risky investments or equity funds, so you won’t have to worry about losing half your value overnight, like you would if the account was held on Wall Street. Call (912)-857-4466 to set up a meeting with an IRA Specialist at your convenience. Also, feel free to ask any questions you might have through the Contact Us Today! portion of our website. You will receive a timely response from a trained professional.

 

 

 

Traditional IRAs
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An individual retirement arrangement, or IRA, is a personal savings plan which allows you to set aside money for retirement, while offering you tax advantages. You may be able to deduct some or all of your contributions to your IRA. Amounts in your IRA, including earnings, generally are not taxed until distributed to you. IRA's cannot be owned jointly. However, any amounts remaining in your IRA upon your death can be paid to your beneficiary or beneficiaries.

To contribute to a traditional IRA, you must be under age 70 1/2 at the end of the tax year. You, and/or your spouse if you file a joint return, must have taxable compensation, such as wages, salaries, commissions, tips, bonuses, or net income from self–employment. Taxable alimony and separate maintenance payments received by an individual are treated as compensation for IRA purposes.

Compensation does not include earnings and profits from property, such as rental income, interest and dividend income or any amount received as pension or annuity income, or as deferred compensation.

 

 

Roth IRAs
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An alternative to a traditional IRA. The most notable thing about a Roth is withdrawals are tax-free if the account has been open for at least five years and you're at least 59 1/2 when you start to withdraw money. Contributions to a Roth are not tax deductible. The Roth is named for Sen. William Roth, Jr., former chairman of the Senate Finance Committee.

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  Our History

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The Bank of Newington was established in 1919 in Newington, Georgia. More Info

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  Need a Loan?

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At Bank of Newington, we're here for all of your loan needs

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  Sylvania Branch

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To serve our customers better, our Sylvania office was opened in 1998. Our Locations

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