Newark, NJ.- Newark, NJ – bcpbank announced the launching of an IRA at 5% APY, for terms of 3 or 5 years and minimum deposit of $500.
“This product is an ideal risk-free investment for Customers saving for retirement, combining a high interest rate with a 3 or 5 year term in a tax efficient financial product.” stated Pedro Belo, Chairman and CEO of bcpbank.
Customers can choose from 4 different account types: Traditional IRA, Roth IRA, Spousal IRA or a Coverdell ESA. The Coverdell is similar to an IRA but funds are intended for post-secondary education. To qualify for the 5% APY, Customers must open a new bcp Relationship Package or upgrade their accounts. In addition to this high rate, Relationship Package Customers earn bonus rates on CD’s and Money Market accounts. Relationship Customers are also eligible for exclusive tiered interest earning checking accounts, FREE unique Relationship checks, FREE use of bcponline and bcpbillpay, a FREE Visa Check Card and discounted rates on consumer loans with automatic debit.
“Our Customer’s demand the most competitive rates when it comes to their investments. This Relationship Package, along with the 5% IRA, strengthens our promise to always put or Customer’s needs as top priority” concluded the Chairman and CEO.
The deadline to open a 5% IRA with bcpbank is April 15, following the income tax filing deadline. For more information on this, or other innovative financial products from bcpbank, visit your local bcpbank branch, call 1.888.bcpbank or visit their website at www.bankbcp.com.
bcpbank is a community bank, headquartered in the Ironbound section of Newark, New Jersey. bcpbank has 18 branches in the United States in New Jersey, New York and Massachusetts, and is actively driving expansion into other states as well. bcpbank has also 8 branches in Canada in the province of Ontario. bcpbank provides comprehensive banking services and solutions to its customer base, servicing individual and corporate customers through a combination of personal and business banking products and services. bcpbank is wholly-owned by the Millennium bcp Group, a successful international financial group with resources available worldwide.
Founded in 1985 and with total assets of EUR 74.6 billion, net income of EUR 513 million in 2004 and EUR 325 million in the first half of 2005, and total market capitalization of EUR 8 billion (ordinary shares plus mandatory convertible securities), the Millennium bcp group is the leading financial group in Portugal and one of the top 100 in the world, and is listed on the Lisbon, Frankfurt, London and Amsterdam Stock Exchanges. The Bank’s major activities include consumer and corporate banking, credit, custody of securities, treasury services, foreign-exchange transactions and money-market operations. Through its various subsidiaries, the Millennium bcp Group is also involved in related financial services, including insurance, asset management, private banking, investment and pension fund management, medium and long-term credit, specialized credit (leasing and factoring), mortgage loans, consumer credit, organization of capital market operations, corporate finance, factoring, company valuations, venture capital financing, brokerage and property management.
Over the years, the Millennium bcp Group expanded its global reach through operations in international markets, namely in European markets of high growth potential, such as Poland (Bank Millennium), Greece (NovaBank) and Turkey (Bank Europa). At the same time, the Millennium bcp Group carries on the development of autonomous operations in diversified geographic markets either with strong historical relations with Portugal or in ethnic markets with relevant presence of Portuguese communities, namely, through BCM (Macao), BIM Group (Mozambique), bcpbank (USA and Canada).