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Find the IRA account that meets your needs

 

Traditional IRA1

  • Tax-deferred earnings until withdrawn
  • Eligible if under age 70.5 and have received taxable compensation during the year
  • Deductibility based on participation in other retirement plans, adjusted gross income and income tax filing status
  • May include rollover contributions from other qualified retirement plans and IRAs

Choose the money market option or fixed rate option as your investment vehicle

Roth IRA1

  • Qualified earnings are tax-free. However, contributions are not tax-deductible
  • Eligible if modified adjusted gross income is within required limits
  • No mandatory distributions at age 70.5

Available with the fixed rate option as your investment vehicle

Coverdell Educational Savings Account1

  • Earnings are tax-free. However, contributions are not tax-deductible
  • Funds may be contributed by anyone within income limitations
  • Designated beneficiary must be under age 18 (account created for purpose of paying qualified educational expenses of a designated beneficiary under the age of 18)

Available with the fixed rate option as your investment vehicle


Investment Vehicles

 

Money-Market IRA

  • Open with a minimum deposit of $1,000
  • Make additional deposits of $100 or more at any time
  • No early withdrawal penalty
  • Variable interest rate

Available with a Traditional IRA

Fixed-Rate IRA (additional deposits)

  • Open with a minimum deposit of $200 ($25 option is available)
  • Make additional deposits of $25 or more at any time
  • Maturities of 12 to 18 months available

Available with a Traditional IRA, Roth IRA or Coverdell Education Savings Account

Fixed-Rate IRA (single deposit)

  • Open with a minimum deposit of $500
  • Maturities of 90 days to 60 months available

Available with a Traditional IRA, Roth IRA or Coverdell Education Savings Account. (Not available for Traditional IRA being converted to Roth IRA.)

Rates may vary by bank location. Annual Percentage Yields (APYs) quoted are accurate as of Date and are subject to change without notice. Withdrawals will reduce earnings. Substantial penalty for early withdrawal. Fees may reduce earnings on the account. For additional details, review our Personal Accounts Fee Schedule, Deposit Agreement, and Truth in Savings Disclosure for Personal Accounts.

  1. Consult your tax advisor about tax benefits and the deductibility of contributions. Visit with a personal banker regarding contribution limits.
  2. Variable interest; rate may change after account is opened.