Individual Retirement Account

It’s never too late to start saving for retirement.

• Minimum opening balance is $100
• Available to any depositor with earned income.
• 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 73

*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.

Traditional

A traditional IRA is a special tax deferred savings plan authorized by the Federal Government to encourage you to accumulate money for retirement.

Roth

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.

Click here for our Retirement Tools.