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Take control of your future with this interest-bearing account. Whether you want to travel the world or relax at home, a Texas Bank IRA helps you achieve the retirement lifestyle you’ve been dreaming of. 

Choose either a traditional or Roth IRA to save the way that works best for you. Both offer great rates and tax benefits* to help you make the most of every dollar. Earn extra interest when you purchase a certificate of deposit within your IRA. Do your future self a favor and open your IRA today!

  • Competitive interest above standard savings rates
  • Traditional and Roth IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • Deposits tax-free or tax-deferred*
  • $5,500 contribution limit per year*
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase CDs within IRA
  • $500 minimum deposit to open

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 tax**
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty***
  • Mandatory withdrawals at age 70½ 

Roth IRA

  • Income limits to be eligible to open Roth IRA*
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal**
  • Principal contributions can be withdrawn without penalty**
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty***
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

*Consult a tax advisor.

**Subject to some minimal conditions. Consult a tax advisor.

***Certain exceptions apply, such as healthcare, purchasing first home, etc.