Just about everyone has an opinion on what makes a good investment — and they often change from one minute to the next. At Heritage Bank, we believe it's pretty simple: invest in yourself! Our traditional and Roth IRAs allow you to do so risk free. There are no setup fees, so it's easy to get started. Prepare for a secure financial future today with an IRA from Heritage Bank of the Ozarks.
Individual Retirement Accounts (IRAs)
- Save for retirement with tax advantages1
- Earn competitive interest higher than regular savings
- Available in traditional and Roth
- Annual contribution limits apply
- $1,000 annual "catch up" contributions allowed for ages 50 and better
- No annual fees or set up fees
- No minimum balance requirements
- Federally insured
- $1,000 minimum deposit to open
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.
- 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
- Prepare for qualified medical expenses
- 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- Principal contributions can be withdrawn without penalty1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 earnings can begin at age 59½
- Early withdrawals on earnings subject to penalty2
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
1Subject to some minimal conditions. Consult a tax advisor.
2Certain exceptions apply, such as healthcare, purchasing a first home, etc.
3Consult a tax advisor.