It’s never too late to start saving for retirement.
- Available to any depositors under the age of 70 ½ with earned income.
- Opening deposit as low as $100
- No setup fees
- Additional deposits allowed in any amount up to maximum allowed by law.
- Variable rate IRA
- Interest is added back to your IRA(Interest accumulates tax-deferred until withdrawal)
- Account automatically renewed at each maturity- no action required by you
- Begin withdrawing as early as age 59 ½ or defer withdrawal until age 70 ½
*Interest rates are variable. The Bank may, at its discretion, change the interest rate on the account
Guaranty Bank offers 2 Types of IRA’s.
A traditional IRA is a special tax deferred savings plan authorized by the Federal Government to encourage you to accumulate money for retirement.
A Roth IRA is an Individual retirement account to which participants are able to make annual non-deductible contributions. Unlike a traditional IRA in which your earnings are tax-deferred, Roth IRA earnings can be tax free.