Scotiabank Puerto Rico Individual Retirement Account (IRA)
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Individual Retirement Account (IRA)

Regular IRA1

  • A safe way to save at an attractive interest
  • 100% deductible from your Income Tax Return
  • Minimum deposit of $500
  • FDIC insured up to $250,000

IRA Roth1

  • Contributions and interest are tax-exempt at the moment of retirement2
  • FDIC insured up to $250,000

Education Savings Account1

  • Savings for your children's education
  • Deduct up to an additional $500 per beneficiary
  • Saving of available funds in regular term deposits

Open your IRA today and take control of your financial future.

Open your IRA at your nearest branch. Call us at 787-766-4999 or 1-877-766-4999 for additional information.

Only for residents of Puerto Rico. Withdrawals may be subject to a 10% penalty from the Departamento de Hacienda. Consult a financial advisor. 1 Request the disclosure for detailed information on service fees, interest rates, and other terms. Charges and penalties for early redemption may affect yield. Penalties for early redemption and/or withdrawals: No interest will be paid if you early withdraw your IRA during the first 364 days after opened / renewed. 50% of the agreed interest rate will be paid if you early withdraw your IRA during the days 365 and 1095 after opened / renewed. 75% of the agreed interest rate will be paid if you early withdraw your IRA any time after 1095 days. Service fees: $50 per transfer to another institution; $20 for cash-out or partial withdrawal and distribution of the account. 2 Applies to Fiscal Year 2017.

Fees and Terms

Minimum deposit of $500

100% deductible from your Income Tax Return

FDIC insured up to $250,000

Ready to Apply?