F&M Bank, Central California’s farmers and merchants bank, is currently promoting its IRA Special Offer. It’s a 6 month IRA at 2.50%APY which is a very competitive IRA rate.
New customers as well as existing ones who want to avail of the bank’s IRA special offer will have to make a minimum deposit of $1,000 to the IRA account. Plus, a checking account with a monthly qualifying direct deposit.
The bank requires that funds deposited must be new money or funds not currently on deposit with the bank. The above IRA rate is accurate as of March 27, 2009 but may change any time.