INDIVIDUAL RETIREMENT ACCOUNTS
Investing in Your Future
An Individual Retirement Account (IRA) is one of the best tax shelters available and an indispensable part of providing for your retirement. Because you pay no taxes on the interest earned on your IRA until you withdraw your funds,* an IRA earns significantly more than a similar investment that is not sheltered. Your National Bank of Indianapolis IRA is a good investment in another way: because we´re locally owned and committed to a policy of investing in Indianapolis, the money you put into your IRA will work for your community as well as for you.
We offer FDIC-insured IRAs at competitive interest rates, along with the expertise to help you choose the right IRA to meet your savings and retirement goals. You can open a money market IRA for as little as $500 and make additional deposits at any time. You may also select one of our IRA Certificates of Deposit to meet your investing needs.
For many people, yearly contributions to an IRA are tax deductible (consult your tax advisor). Interest will be compounded daily on certificates of deposit and monthly on money market IRAs. Interest is posted monthly, and you can begin withdrawals at age 59 and a half.
Transfers and Rollovers
When you are ready to transfer or roll over an existing IRA or qualified pension plan to a National Bank of Indianapolis IRA, we´ll make it easy. We´ll make sure your funds are deposited into your new account while avoiding a tax penalty. Your Relationship Banker will be glad to help you make appropriate arrangements.
Other Products of Interest
We also offer other savings products to help meet your financial goals, including a range of savings accounts and Certificates of Deposit at competitive interest rates. Our Private Banking and Professional Money Management departments can guide you to other tax advantaged products, such as high-quality, tax-free municipal obligations and money market funds.
Stop by our banking centers or phone our Relationship Bankers to discuss your savings goals and design a plan to help you reach them. It´s never too soon to plan for the future. And remember, investing at The National Bank of Indianapolis puts your money to work right here at home, creating jobs and building a stronger city.
*Interest penalty for withdrawal before maturity.