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It takes careful planning to ensure a financially secure retirement. With this in mind, New Tripoli Bank offers a variety of attractive Individual Retirement Account (IRA) options (Traditional, Roth, Coverdell, Simplified Employee Pensions) and terms. IRA funds are insured by the FDIC separately from non-retirement plans, up to $250,000.00 per financial institution.

Traditional IRA
  • Contributions you make may be tax-deductible based on your maximum adjusted gross income (MAGI) (you may be able to claim the deduction even if you don’t itemize deductions on your taxes)
  • Retirement savings grow tax-deferred
  • Earnings aren't taxed until you start withdrawing money after you retire
Roth IRA
  • No tax deduction allowed for contributions, but if certain requirements are met, distributions can be entirely tax-free
  • Earnings grow tax-deferred
  • Contributions aren’t taxed when you withdraw them in retirement
Coverdell Educational IRA
  • Tax-advantaged account specifically designed for paying qualified education expenses
  • $2,000.00 annual contribution limit per beneficiary (virtually anyone can contribute)
  • Allowable contribution based on maximum adjusted gross income (MAGI)
  • Contributions are not tax-deductible, but qualified distributions are tax-free
  • Contributions must end when the beneficiary turns 18
  • Funds must be disbursed or rolled over by the beneficiary’s 30th birthday

Select the product that works best for you. Keep in mind that your IRA funds are insured by the FDIC up to $250,000.00.

IRA Savings Account 
  • No minimum initial deposit required
  • Pays interest when you maintain a minimum account balance of $20.00
  • Interest is compounded daily and credited monthly
  • No monthly maintenance fees
  • Make additional contributions at any time
  • Quarterly account statements 
IRA Variable Account
  • Pays an attractive rate of interest which may vary over the 18-month term
  • Minimum deposit of $250.00
  • Subsequent deposits can be made in any amount
  • Automatically renews at maturity
  • Interest compounded on a daily basis and credited to your account monthly
  • Quarterly account statements
IRA Certificates of Deposit
  • Rates tied to our CD rates
  • Minimum deposit of $500.00
  • Terms range from 91 days up to 60 months
  • Automatically renewable
  • Interest fixed for the term of the account
  • Interest compounded on a daily basis and credited to your account either monthly or annually and at maturity
  • Contributions may be made only at the maturity of your CD