STEP 1
Choose between a Savings IRA or an Investment IRA.
STEP 2
For taxes, choose between Roth IRA or a Traditional IRA.
Roth IRA
With a Roth IRA, you can withdraw your regular contributions at any time and they may be tax-free. Withdrawals can be made penalty-free for any of these reasons: reaching age 59 ½, death, disability, or a first-time home purchase.
Traditional IRA
With a Traditional IRA, you can enjoy tax-deferred growth on your earnings until withdrawal. Your contributions may also be tax-deductible, so consult a tax advisor to learn more.
STEP 3
Determine if you want to use your IRA with other savings options.
Savings
Retirement planning isn't a sprint, it's a marathon. Enjoy a retirement savings account with competitive IRA Savings account rates to help you have enough cash flow coming out each month when retirement day finally comes.
Certificate of Deposit
Earning more retirement savings is always a good idea. You can help your savings grow at a higher rate for set terms by investing your IRA into Certificates of Deposit.
Disclosures
Consult with your tax advisor for additional tax information.
IRA Savings Account Rates
| Minimum Balance-Maximum Balance | Dividend Rate | APY¹ |
|---|---|---|
|
$0.00-$99.99 |
0.25% |
0.25% |
|
$100.00-$2,499.99 |
0.25% |
0.25% |
|
$2,500.00-$9,999.99 |
0.25% |
0.25% |
|
$10,000.00-$24,999.99 |
0.25% |
0.25% |
|
$25,000.00 and over |
0.25% |
0.25% |
¹APY=Annual Percentage Yield. The rate may change after account opening without notice. Fees may reduce earnings on the account. There is a one time, $25.00 set up fee involved with starting a Health Savings Account. HSA rates effective as of 10/01/2021.
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Features
Tax-deductible contributions
You may pay taxes only on withdrawals in retirement when you get a lower rate instead of paying them now with a Traditional IRA.
No maximum income limits
Traditional IRAs don't have maximum income limits, so nearly anyone can save for retirement no matter how much they make.
Diverse investments
Diversify your portfolio beyond that of a 401(k) by investing in a variety of money markets, certificates of deposit, stocks, bonds, mutual funds, or EFTs.
Tax-free growth until distribution
Don't pay annual taxes on earnings and watch your savings grow bigger, faster.
Withdraw up to $10,000 penalty-free
You won't have to pay penalties on early withdrawals from your Roth IRA up to $10,000 if they qualify for certain exemptions, including first-time homebuying, education, or hardships.
Withdrawal benefits
Access your funds when you need them most. You may be able to withdraw Roth IRA contributions penalty- and tax-free if you meet certain requirements.
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