An account established for retirement saving.
The contribution to this account may be either a lump sum contribution or may be made throughout the year. The account is established as a Certificate of Deposit, with varying terms available at competitive rates. Wallis State Bank acts as the custodian on the account and is responsible for all tax reporting. As the custodian, there are NO fees charged either annually or per distribution unless there is a withdrawal from the certificate before maturity. Interest begins to accrue on the business day that non-cash items (for example, checks) are deposited.
- Minimum Deposit to Open: $250.00
- Terms Available: See current terms and rates
We offer Roth and Traditional IRAs to help you meet and exceed your long term financial and retirement goals while helping to minimize your taxable income. For more information on our current rate offers for IRAs, contact us or visit any Wallis State Bank location.