Individual Retirement Accounts (IRAs)
Enjoy tax benefits while saving for retirement with a Texas First traditional or Roth IRA. Contribute up to $5,000 annually and earn competitive interest on your balance. Open one today and get your balance growing so fast, you might be able to retire sooner than you think!
- Traditional
- Contributions are tax deductible*
- Interest earnings are tax deferred
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty
- Mandatory withdrawals begin at age 70½
- Annual contributions may not exceed $5,000
- $100 deposit to open
- FDIC insured
*Please consult your tax advisor.
- Roth
With a Roth IRA, you pay taxes on your contributions now but enjoy tax-free earnings at withdrawal.
- Tax-free earnings*
- Contributions are not tax-deductible*
- No mandatory distribution age
- Can withdraw principal balance at any time
- Interest earnings available for withdrawal at age 59½
- Early interest withdrawals subject to penalty
- Annual contributions may not exceed $5,000
- $100 deposit to open
- FDIC insured
*Please consult your tax advisor.
