Individual Retirement Accounts (IRA)
Retire with ease by opening a Banner IRA today.
Whether your retirement is on the far horizon or just around the bend, we can help you set up an individual retirement account (IRA) CD or savings account to fund your nest egg. Unlike a 401(k) through your employer, an IRA offers you more control over the investment options you choose to provide for yourself when you retire.
With a Banner IRA, you can count on:
- No monthly service charges and no annual fees
- Competitive interest rates to help your savings grow
- IRA CD: Minimum opening balance of $250
- Flexible IRA CD terms - choose three months up to 60 months1
- IRA savings account: Minimum opening balance of $50
- Ongoing savings build with no term limit in an IRA savings account
Our knowledgeable bankers will help you decide which IRA plan is best for you:
- Traditional IRA: Earnings tax-deferred, contributions can be tax-deductive, distributions taxed as income.
- Roth IRA: Contributions in after-tax dollars, ineligible for tax deduction.
- SIMPLE IRA: Employee/Employer savings incentive match plan.
- Simplified Employee Pension (SEP) IRA: Employer/Employee plans, can offer tax deductions and incentives to both.
- Coverdell Education Savings Account (CESA): Savings to pay qualified education expenses of a designated beneficiary.
Explore calculators that answer your finance questions:
Retirement Planner
How soon can I retire and how much will I be able to spend each month?
Retirement Calculators
Plan for retirement and choose the right option for you with these calculators.
1
Early withdrawal penalty varies by term. Consult a Banner Bank Representative for details.