An Individual Retirement Account allows you to save for retirement. Lyon County State Bank offers two types of IRAs—Traditional and Roth.
Traditional IRA Features
- Allows you to contribute before-tax dollars
- Contributions may be tax deductible
- Earnings grow tax-deferred until withdrawn
- IRS penalties may be assessed on withdrawals prior to age 59½
- Minimum distributions are required at age 70½
- Fixed and variable rate options available
Roth IRA Features
- Allows you to contribute after-tax dollars
- Contributions are not tax deductible
- Earnings grow tax-deferred
- Earnings may be withdrawn tax-free if the Roth IRA is at least 5 years old and you’re at least 59½
- No minimum required distributions
- Fixed and variable rate options available
Our Fixed Rate IRA Certificates are available in the following terms:
- 6 Month Certificate
- 12 Month Certificate
- 18 Month Certificate
- 24 Month Certificate
- 30 Month Certificate
- 36 Month Certificate
- 48 Month Certificate
- 60 Month Certificate
Our Easy Start IRA Certificate is available in the following term:
Our Pick Rate IRA Certificate is available in the following term:
- 36 Month Pick Rate Certificate
Our Variable Rate IRA Certificate is available in the following term:
- 18 Month Variable Rate Certificate
Account Details
Minimum Amount to Open |
- $500 for all IRAs except Easy Start IRA
- $25 for Easy Start IRA
|
Minimum Balance to Earn Interest |
$0 |