NVE Bank only opens personal accounts for persons who reside or work in New Jersey.
Individual Retirement Accounts
Planning for your retirement may be the most important financial decision that you make. NVE can help you set up an Individual Retirement Account (IRA) today. The minimum amount to open an IRA CD is $1,000.
For individuals with income from wages who are under age 70½ during the entire year. Contributions may be tax deductible; earnings are tax deferred*.
For individuals with income from wages (certain income limits apply). Contributions are not tax deductible; earnings are tax deferred and may be tax free*.
Education Savings Account
A Coverdell Education Savings Account (ESA) is a deposit account established for the qualified education expenses of a designated beneficiary. The maximum annual contribution is $2,000 and distributions used for the designated beneficiary's qualified education expenses are tax free*.
*Customers must contact their tax advisor to determine eligibility and tax deductibility.