It's never too late to plan ahead for your golden years. An IRA from Georgia Banking Company can help, with competitive rates and a variety of maturity dates and rates to suit your specific needs.

Open this valuable investment vehicle with just a $500 minimum deposit, and start saving now toward a happy retirement. Ask one of our financial experts and get started today to make sure your future is financially sound.

  • Competitive interest above standard savings rates
  • Traditional, Roth, and rollover IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • $5,500 contribution limit per year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • $500 minimum opening deposit
Traditional vs. Roth

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals at age 70½

Roth IRA

  • Income limits to be eligible to open Roth IRA3
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty2
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

Rollover IRA

Are you getting ready to move or change jobs? A rollover IRA allows for the tax-free movement of funds from a qualified retirement plan (such as 401(K), pension or profit sharing plan) to an IRA, to allow for continued tax-sheltered growth of funds.

1Subject to some minimal conditions. Consult a tax advisor.

2Certain exceptions apply, such as healthcare, purchasing first home, etc.

3Consult a tax advisor.