Traditional IRAs
Prepare for retirement with pre-tax investments that grow the Kingdom.
Earn up to
0
on a six-month term.
% APY*
*APY = Annual Percentage Yield assumes all interest is left in the investment and compounded.
Fixed-rate investments are not designed for early withdrawal.
Current Rates
|
APY*
|
APR*
|
Term
|
|---|---|---|
|
5.12%
|
5.00%
|
6 Month
|
|
4.59%
|
4.50%
|
12 Month
|
|
4.33%
|
4.25%
|
18 Month
|
|
3.82%
|
3.75%
|
2 Year
|
|
3.56%
|
3.50%
|
3 Year
|
|
3.04%
|
3.00%
|
5 Year
|
Traditional IRAs allow deductible contributions—and the interest earned on them—to compound and grow tax-deferred.
Tax-deferred growth. Get a potential tax break on deductible contributions today and avoid taxes on interest until you take distributions (usually at retirement).
Great rates. Fund your Traditional IRA with any of our fixed-rate investment options, which offer great rates for fixed terms.
Easy to qualify. There is no income limit on who can open a Traditional IRA, and you can continue to contribute as long as you’re working.
Personal customer service. You can expect personal attention from our skilled and dedicated investment specialists, whether you call our office or make an appointment to stop by!
You can easily manage your fixed-rate investment on our secure customer portal.
Frequently Asked Questions
Please review our current rate chart.
Traditional IRA: Contributions to a Traditional IRA may be tax-deductible, and the interest earned is tax-deferred. Regular distributions from a Traditional IRA are taxable. You must begin taking distributions after the age of 73, but you may continue to make contributions if you are still employed.
Roth IRA: Contributions to a Roth IRA are not tax-deductible, and the interest earned is tax-deferred. Regular distributions from a Roth IRA are not taxable. You are not required to take distributions by 73 and can continue to make contributions as long as you have earned income. Your Roth IRA must be established for a minimum of five years before you can take tax-free distributions.
For full details, please visit our Compare IRA Options page.
The current contribution limit for both Traditional and Roth IRAs is $7,000 per year for anyone under 50 years of age and $8,000 per year for those over 50.
Yes, eligible accounts can be transferred to GenFi Ministries. Email investment@genfi.com or call 800-821-1112 to speak with one of our investment specialists to begin the process.
Yes, you can roll over your 401(k) from a previous employer into an IRA at GenFi Ministries. To get started, contact your plan administrator to confirm their rollover requirements. Our Investment team is happy to help you set up your IRA — just reach out!
Yes, you can take penalty-free distributions from your Traditional IRA once you turn age 59 ½. For Roth IRAs, you can take distributions if you are 59 ½ and have had your account open for at least five years. GenFi Ministries does not assess any penalties for distributions from IRAs. However, there is a six-month interest penalty for transferring your IRA to another custodian before your term is up.
No, IRAs must be held in the name of an individual. If the person is married, the spouse usually is the primary beneficiary, and the trust is the contingent beneficiary. If the person is not married, the trust can be the primary beneficiary.
A RMD is an amount of money the IRS requires you to take from a Traditional IRA account once you reach age 73. The dollar amount is determined by a calculation of your age and the end balance of the previous year.
Opening a Traditional IRA is easy to do.
Choose the term that fits your saving objectives or diversify your investment across multiple rates and terms. Read our Offering Circular and complete a short application form to get started!
Investing with Purpose
Investments with GenFi Ministries support churches and ministries.
When you invest with GenFi Ministries, you help build up Assemblies of God churches all over the United States. Thanks to the investments of thousands of individuals and families, we can support the health, vitality, and continued success of hundreds of ministries. Your investment is not just earning a return for you… it’s earning a return for the Kingdom and creating a generational impact.