Hours & Locations   Rates   Contact
Main
Senior couple in their backyard
Skip Text

Individual Retirement Plans

Personal IRA Plans


Features IRA Variable IRA Variable
Minimum Opening Deposit $100 $100 for 60 Month Term, $1,000 for 12 or 24 Month Term and $2,500 for 30 Month Term
Minimum Balance Needed to Obtain Annual Percentage Yield (APY) N/A N/A
Minimum Balance Needed to Avoid Fees A monthly service charge fee of $3 will be imposed every month if the balance in the account falls below $100 any day of the month. $100 for 60 Month Term, $1,000 for 12 or 24 Month Term and $2,500 for 30 Month Term.
Visa Debit Card with qualified checking account No No
Telephone Banking Yes N/A
 Internet Banking Yes Yes
Rate Information Your interest rate and APY may change. You will be paid the disclosed interest rate until first maturity.
Frequency of Rate Changes Quarterly Fixed interest rate for applicable terms.
Determination of Rate At our discretion, we may change the interest rate on your account. At our discretion, we may change the interest rate on your account.
Compounding and Crediting Frequency Interest will be compounded every day. Interest will be credited to your account every quarter. Interest rate determined at account opening and account maturity.
Effect of Closing An Account If you close your account before interest is credited, you will not receive the accrued interest. If you close your account before interest is credited, you will not receive the accrued interest.
Early Withdrawal Penalties A penalty may be imposed for withdrawals before maturity. The fee we may impose will equal six months interest on the amount withdrawn subject to penalty. A penalty may be imposed for withdrawals before maturity. The fee we may impose will equal six months interest on the amount withdrawn subject to penalty.
Daily Balance Computation Method We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of Interest on Non-Cash Deposits Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
"Common Features" fee chart applies. Yes Yes
Transaction Limitations/Fees N/A N/A
Hours & Locations

Hours & Locations

We have a convenient HBM branch right near you.
Learn more

Who We Are

The Harbor Bank of Maryland
25 W. Fayette Street
Baltimore, Maryland 21201
(410) 528-1800
NMLS# 417182
Routing #052001772

Connect With Us
Instagram logo
Instagram logo