Save by opening a New Peoples Bank IRA account.

IRA Accounts

Savings Roth IRA

Our Savings Roth IRA Accounts are variable rate investments that have tax benefits authorized by Congress. These IRA's are not tax-deferred, but once you retire the distribution of earnings is tax free. You may add money to these accounts at any time.

Details

  • Open this account with only $25.00
  • Make as many current year or previous year contributions as you want up to the annual limit
  • Annual contributions are limited to $5,500.00 or $6,500.00 if age 50 or older
    (For tax year 2017)
  • Contributions are not tax deductible
  • Qualified distributions are not taxable
  • There is a tax on funds taken out before age 59 1/2
  • No requirement to begin distribution by age 70 1/2

Benefits

  • Tax Free distribution of earnings
  • Spouse can inherit IRA
  • Flexible payout schedule that does not have to start at 70 1/2
  • You can convert existing IRA's to Roth IRA's
  • More secure financial future
Savings Traditional IRA

Our Savings Traditional IRA Accounts are variable rate investments that have tax benefits authorized by Congress. You may add money to these accounts at any time.

Details

  • Open this account with only $25.00
  • Make as many current year or previous year contributions as you want up to the annual limit
  • Annual contributions are limited to $5,500.00 or $6,500.00 if age 50 or older
    (For tax year 2017)
  • Contributions may be tax deductible
  • Funds are taxable when they are distributed
  • There is a tax on funds taken out before age 59 1/2
  • Distribution must start by age 70 1/2

Benefits

  • Possible tax deduction for annual contributions
  • Spouse can inherit IRA
  • Flexible payout schedule
  • More secure financial future
CD Roth IRA

Our Roth IRA Certificate of Deposit Accounts are fixed rate and term investments that have tax benefits authorized by Congress. These IRA's are not tax-deferred, but once you retire the distribution of earning is tax free.

Details

  • Open this account with only $500.00
  • Certificate terms can be from 12 months to 60 months
  • Annual contributions are limited to $5,500.00 or $6,500.00 if age 50 or older
    (For tax year 2017)
  • Contributions are not tax deductible
  • Qualified distributions are not taxable
  • There is a tax on funds taken out before age 59 1/2

Benefits

  • Tax free distribution of earnings
  • Wide choice of fixed rates and terms
  • Spouse can inherit IRA
  • Flexible payout schedule that does not have to start at 70 1/2
  • You can convert existing IRA's to Roth IRA's
  • More secure financial future
CD Traditional IRA

Our Traditional IRA Certificate of Deposit Accounts are fixed rate and term investments that have tax benefits authorized by Congress. You may not add money to these certificate and they are not negotiable.

Details

  • Open this account with only $500.00
  • Certificate terms can be from 12 months to 60 months
  • Annual contributions are limited to $5,500.00 or $6,500.00 if age 50 or older
    (For tax year 2017)
  • Contributions may be tax deductible
  • Funds are taxable when they are distributed
  • There is a tax on funds taken out before age 59 1/2
  • Distribution must start by age 70 1/2

Benefits

  • Possible tax deduction for annual contributions
  • Wide choice of fixed rates and terms
  • Spouse can inherit IRA
  • Flexible payout schedule
  • More secure financial future
Coverdell Education Savings IRA

Our Coverdell Education Savings Accounts are fixed rate. The primary purpose of this account it to help pay for a child's education. The account is setup for a child who is younger than 18 years old (if the child has special needs, the age limit does not apply).

Details

  • Open this account with only $500.00
  • Certificate terms can be from 12 months to 60 months
  • Annual contributions are limited to $2,000.00 per child
  • Contributions are not tax deductible, but earnings grow tax free if the distributions are used for qualified education expenses

Benefits

  • Wide choice of fixed rates and terms
  • Earnings grow tax free if used for qualified education expenses
  • Child has a more secure financial future

Find a Location to Open an Account

For more information on our IRA account options just contact the NPB branch nearest you today!

Retirement Planner
Determine if your plan is on track and how to keep it there.
Cool Million
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College Savings
Develop or fine tune your education savings plan

 

 

 

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