Individual Retirement Accounts
Individual Retirement Accounts (IRA)
- Minimum of $500 to open
- Competitive rates
- No setup fees
- No monthly or annual maintenance fees
It's never too late to plan ahead for your golden years.
An IRA from GBC can help, with competitive rates and a variety of maturity dates and rates to suit your specific needs.
Open this valuable investment vehicle with just a $500 minimum deposit, and start saving now toward a happy retirement. Ask one of our financial experts and get started today to make sure your future is financially sound.
- Traditional, Roth, and rollover IRA options
- $6,000 contribution limit per year
- Additional $1,000 "catch-up" contribution allowed for ages 50+
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.
1 Subject to some minimal conditions. Consult a tax advisor.
2 Certain exceptions apply, such as healthcare, purchasing first home, etc.
3 Consult a tax advisor.
Rollover IRA Are you getting ready to move or change jobs?
A rollover IRA allows for the tax-free movement of funds from a qualified retirement plan (such as 401(K), pension or profit sharing plan) to an IRA, to allow for continued tax-sheltered growth of funds.