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Rates

Retire comfortably. It’s never too early or too late to start saving — especially when you get tax advantages.*

Key Features

  • Tax Advantages*
  • Competitive Interest
  • No Setup or Maintenance Fees
  • Save for your retirement with special tax advantages*
  • Earn competitive interest above standard savings rates
  • Traditional and Roth options available
  • No setup fees
  • No monthly or annual maintenance fees
  • Annual contribution limits apply (see current contribution limits)
    • Additional "catch up" contribution allowed for people age 50 and better
  • Deduct contributions from your checking or savings
  • IRS rules apply
  • No minimum deposit to open

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • Earned income required
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals at age 70 ½

Roth IRA

  • Income limits to be eligible to open Roth IRA3
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59 ½
  • Early withdrawals on interest subject to penalty2
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

1Subject to some minimal conditions. Consult a tax advisor.

2Certain exceptions apply, such as healthcare, purchasing first home, etc.

3Consult a tax advisor.

*Consult a tax advisor.