Phone: 1-847-244-6000
Retirement Savings
It's never too soon to start planning for retirement. Whether you want a Traditional or a Roth IRA, our experienced bankers have the knowledge to help you plan successfully. Set up a retirement savings account with NorStates Bank today, and maximize your tax-free savings!
- Summary
- Retirement savings with excellent tax benefits
- Competitive interest rates
- Only $1,000 to open
- FDIC insured
Traditional IRA
- Contributions are tax-deferred until withdrawal
- May be eligible to deduct contributions on current tax returns
- Penalty-free early withdrawal for certain expenses (buying a first home, college, uninsured medical coverage, etc.)
Check out our current interest rates.
- Roth IRA
- Unlike Traditional IRA, incurs the tax now
- All earnings are tax-free at withdrawal
- Income is taxed now, when you are working, instead of when on fixed income
- Penalty-free early withdrawal for certain expenses (buying a first home, college, uninsured medical coverage, etc.)
