IRAs | Belgrade State Bank

You’ve worked hard your whole life for this

Why not make it the best retirement possible? Start saving with a tax-advantaged¹ IRA.

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Key Features

Roth or traditional
Retirement savings
No set-up or annual fees

Details

Save for retirement with tax advantages1
Earn competitive interest higher than regular savings
Available in traditional and Roth
Annual contribution limits apply
$1,000 annual “catch up” contributions allowed for ages 50 and better
No annual fees or set-up fees
Federally insured
$100 minimum deposit to open

¹Consult a tax advisor.

Traditional vs Roth

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 tax¹
Earnings are tax-deferred until withdrawal (when usually in the lower tax bracket)
Withdrawals can begin at age 59 ½
Early withdrawals are subject to penalty²
Mandatory withdrawals at age 70 ½

Roth IRA