The Individual Retirement Account (IRA) Savings is an interest-bearing savings account that supports your savings goals. Traditional IRA and Roth IRA are both good choices when saving for retirement. An Education IRA is designed to help parents and guardians save for future qualified educational costs. Withdrawals can carry tax implications. All IRA accounts are subject to legal requirements and limitations. Please speak with your Tax Advisor for specific details.
Compare IRA Savings Accounts
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Options
|
Traditional IRA | Roth IRA | Education IRA |
|---|---|---|---|
| Eligibility | Any Customer | Any Customer | Any Customer |
| Minimum Balance to Open Account |
None |
None | None |
| Monthly Minimum Balance Required to Earn Interest | None | None | None |
| Monthly Maintenance Charge | None | None | None |
| Legal Limitations | Transfers from an IRA Savings account to another account or to third parties by preauthorized, automatic, telephone, or data transfer or by check, draft, debit card, or similar order to third parties are limited to six per monthly statement cycle. Withdrawals are limited per IRS regulations. Consult with your Tax Advisor to understand withdrawal implications. | ||
Open an Account
To open an IRA Savings Account, please visit any Enterprise Bank location and a Branch Specialist will be happy to assist you.