Retirement is just around the corner — whether you’re 25 or 55. Start saving today with tax advantages.*


Key Features

  • Competitive Interest
  • No Setup or Maintenance Fees
  • Tax Advantages*
  • Tax-advantaged retirement savings*
  • Competitive interest above standard savings rates 
  • Traditional and Roth IRA options 
  • No setup fees 
  • No monthly or annual maintenance fees
  • Annual fee of $25 if customer does not have another checking/savings/loan/safe deposit box account with FNB 
  • Annual contribution limits apply (see current contribution limits; $6,000 as of 2021)
  • Additional $1,000 "catch-up" contribution allowed for ages 50+ 
  • $100 minimum periodic deposits
  • Early withdrawals subject to penalty**
  • $500 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 

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax2
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty3
  • Mandatory withdrawals at age 72

Roth IRA 

  • Income limits to be eligible to open Roth IRA1
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal2
  • Principal contributions can be withdrawn without penalty2
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty3
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

1Consult a tax advisor.

2Subject to some minimal conditions. Consult a tax advisor.

3Certain exceptions apply, such as healthcare, purchasing first home, etc.

*Consult a tax advisor. 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.

**Penalty for early withdrawal is 6 months interest on the amount withdrawn. IRA accounts may start being withdrawn at age 59½ and must start being withdrawn by the age of 70½ .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 $6000; plus cost of living adjustment.

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