Start saving today. Your future self will thank you.
Choose one of these three options to start saving
Ponce Savings Account¹
Money Market Account²
Certificate of Deposit3
Save for Retirement with IRA Accounts
Traditional IRA
Contributions made to a traditional IRA mean that, depending on your employment status and income level, you may be able to deduct all or some of your contribution on your income tax return, which reduces your taxable income.
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Roth IRA
A Roth IRA gives you the chance to invest money after taxes and then take the contributions and earnings out tax-free in retirement. Contributions to Roth IRAs are made after taxes are paid, so there is no tax deduction. Instead, the contribution grows tax-free. As long as you wait until you’re 59½ years old to withdraw funds, earnings will not be taxed.
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Save for your child’s education with Coverdell Education Savings Account
CESA
When you invest in a CESA, you don’t have to pay taxes on the earnings, which means your money has a chance to compound faster.
Withdrawals are free from federal taxes as long as you use the money for qualified education expenses, such as tuition, books, supplies, uniforms, room and board, computer equipment and internet service.
Ponce Tip!
A CESA is an excellent option for anyone with children under 18. Parents, guardians, grandparents or anyone else can contribute up to $2,000 combined per year until the child reaches 18, and withdrawals are tax-free if used for educational purposes.
You know your money matters. Ponce makes it matter more.
You know your money matters. And Ponce makes it matter more.
Learn MoreInvest in your community not climate crisis
Support a minority-led, minority-founded bank
Bank with purpose
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and secure your financial future?
Gain the knowledge and confidence to navigate the exciting yet complex journey of purchasing your first home.
A comprehensive program designed by Ponce Bank to assist small business owners and aspiring entrepreneurs looking to start their businesses.
A valuable resource that assists local nonprofits in developing skills, maximizing impact, and growing capacity.
1 Transfers to another account or to third parties by preauthorized automatic telephone or computer transfer or by check, draft, debit card or similar order to third parties are limited to six per monthly statement cycle. Other fees may apply. See consumer schedule of fees for details. Ask us for details. Bank rules and regulations apply. Minimum opening deposit is only $50. Fees may reduce earnings.
2 Transfers to another account or to third parties by preauthorized automatic telephone or computer transfer or by check, draft, debit card or similar order to third parties are limited to six per monthly statement cycle. Other fees may apply. See consumer schedule of fees for details. Ask us for details. Bank rules and regulations apply. Minimum opening deposit is only $50. Fees may reduce earnings.
3 The minimum balance to open and obtain the APY for this promotional 7-month CD is $1,000. Applies to new deposits only (funds previously not within another Ponce Bank account.). A penalty may be imposed for withdrawals before maturity, and fees may reduce earnings. Offer and rates may change without prior notice. Speak to a representative to learn more.
4 APY-Annual Percentage Yield. Rate may change after the account is opened.
5 Data pulled from Mighty Deposits as of 4/14/2023 "Your $100 deposit in PONCE BANK creates $80 of community financing versus the NATIONAL BANK INDUSTRY AVERAGE of $37": https://mightydeposits.com/ponce-bank
6 Money Market Account APYs:
- Money Market (0 to less than $1,500):0.10%
- Money Market ($1,500 to less than $50,000):0.15%
- Money Market ($50,000 and greater):0.20%