Individual Retirement Accounts (IRA)

You work hard every day, so it's hard sometimes to stop and think about what will happen when you're not working anymore. Take a minute and do something to make sure your future is looking bright by opening an IRA today.

We have a wide variety of options to make sure you have an account that meets your needs and will leave you sitting pretty when it's time to retire. Let us help you put together a long-term savings plan today.

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Summary
  • Outstanding rates
  • Fixed terms
  • $100 minimum periodic deposits
  • Fixed rate options
  • Penalty for early withdrawal
  • FDIC insured
  • $500 to open
More Information

Penalty for early withdrawal is 6 months interest on the amount withdrawn. Termination fee is $50 if account is closed or removed from this bank before you reach 59½ years old. IRA accounts may start being withdrawn at age 59½ and must start being withdrawn by the age of 70½. You may make maximum deposits of $2000 if you are single, $2250 if you are married and your spouse does not work, and $4000 if you both work.

The maximum you may deduct from your taxes will be based on earnings for the year whether or not you or your spouse are covered by a pension plan. It is advisable to check with your tax consultant in order to determine how much of your contribution may be deductible. Choose from an 18-month variable rate option, which changes every 6 months, or an 18-month fixed rate.

All IRAs are separately insured by FDIC regardless of your other FNB account balances.