Individual Retirement Account (IRA)
Whether you are near retirement or a long ways away, Yellowstone Bank IRA’s can help reduce taxes on present or future earnings.* Money you invest in a Traditional IRA may be tax-deductible from your income today. The money only becomes taxable to you after you retire and begin making withdrawals. Roth IRAs work the opposite way, contributions are not tax-deductible, but distributions are tax-free.
Yellowstone Bank offers you the choice of earning a fixed rate of interest on either a Traditional or Roth IRA. IRA Certificates of Deposit (IRA CDs) are set up for the duration of your choice, from 90 days to 5 years, and earn a fixed rate of interest for the entire term. Deposits are made at initiation with IRA CDs. The funds in IRA CDs are FDIC-insured to the legal limit, and are subject to IRS penalties for early withdrawal.
IRA Certificates of Deposit
- Minimum opening deposit of $500
- Terms from 90 days to 5 years.
- No monthly service charges
- Fixed interest for the term of the certificate, compounded and paid monthly.
- Subject to IRS penalty for early withdrawal
* Consult a tax advisor
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