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Individual Retirement Accounts

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IRA Overview

Individual Retirement Accounts are the tax-deferred or tax-free approach to securing your retirement. Start building your future today.

IRAs are flexible tools that let you contribute to your retirement at your own pace. Different IRAs offer different tax advantages.


Traditional IRAs let you make tax-deductible contributions. 

You save tax free until you withdraw, at which point you’ll pay taxes on your savings. If you expect to be in a lower tax bracket when you retire, a Traditional IRA might work for you, because you’ll pay a lower rate on your savings.


Roth IRAs let you make contributions with money that has already been taxed. 

Therefore, when you withdraw your savings at retirement, you won’t pay any taxes. If you expect to be in a higher tax bracket when you retire, a Roth IRA may work for you, because you’ll pay fewer taxes now than you may in the future.

Still not sure which IRA is right for you? We’ll help you decide.

If you’re a business owner, we also provide Simplified Employer Plans which you may offer to your employees.


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Here's what you need to know.

Individual Retirement Accounts

  • Wide range of maturities and terms
  • Tax-deferred and tax-free options
  • Eligible for direct rollovers from qualified plans
  • $1,000 minimum opening balance

  • $1,000 minimum opening deposit for fixed rate IRAs
  • $250 minimum opening deposit for variable rate IRAs

Looking to make a big purchase but prefer to hold onto your cash? b1BANK’s Secured Loans allow you to do just that.

See Secured Loans

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