Want to keep track of your IRA growth? Why not enable them through Online Banking?
Individual Retirement Accounts
Regular investing using a FCNB IRA can help to ensure your retirement years are enjoyable. It is never too early to start planning for the future. The sooner you begin contributing, the faster your savings will grow due to possible tax savings and our competitive interest rates. Our IRA accounts have a minimum deposit of $500.00 to open the account.
Minimum amounts for future deposits and withdrawals are also $500.00.
- Contributions may be tax deductible
- Required minimum distribution begins at 70½
- No federal income tax on earnings until withdrawn
- Withdrawals before 59½ are usually subject to a 10% penalty
- Contributions are not tax deductible
- No required minimum distribution at 70½
- Interest is tax exempt
Please contact a New Accounts representative at your branch to discuss your retirement needs.