The Education Contribution Account (CAE, as it is known in Spanish) allows you to save money for the college education of your children. The contribution can be deducted from your Income Tax Return in addition to other IRA accounts.
Which type of ECA IRA do you prefer?
- The father, mother or guardian of the beneficiary may open the account.
- The principal and interests are insured by the FDIC.
- Available term: 3 years.
- The interest earned is based on the Standard and Poor's 500 Index (S&P 500).
- The principal is insured by the FDIC.
- Minimum initial deposit $500.
Want to open your IRA now, or have more questions? Call TeleBanco.
787-294-2552 (PR) o 1-888-724-3653 (US / USVI).
Monday to Friday 8am to 7pm, Saturday 8am to 5pm. Sunday close
Member FDIC. Member of the Federal Reserve System. ECA accounts are only available for current residents of the Commonwealth of Puerto Rico. ECA accounts requested through Internet Banking must be paid through an electronic debit. The debit will be processed once the documents required to open an account are submitted. Payments in cash, check or money order will only be accepted at Banco Popular branches. Ask for the offer brochure and read it carefully before investing. Banco Popular offers various investment alternatives. Please obtain additional information to determine the alternative that best suits your needs.
and CDs
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