FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Individual Retirement Account (IRAs)
Here’s to a happy retirement. Save for yours with an interest-bearing IRA and, in most cases, enjoy tax advantages too.
Individual Retirement Account Benefits
An IRA helps you plan ahead with secure savings options and potential tax benefits.
Fixed or Variable Rates
Choose the rate option that best fits your timeline, comfort level, and retirement savings goals.
No Hidden Costs
Enjoy straightforward pricing with one annual fee and no surprise charges.
Direct Deposit Available
Make saving easier by depositing funds directly into your IRA.
All Deposits Fully Insured
Your deposits are protected through FDIC and DIF coverage for added peace of mind.
Choose The IRA That Fits Your Goals
Whether you’re aiming for immediate tax deductions or tax-free growth in retirement, we’ll help you compare Traditional and Roth options to find the perfect match for your financial future.
Money Market IRA
Best for: Flexibility and easy access while still earning interest
Minimum to Open: $10
Rate Type: Variable
How Earnings Grow: Daily
Ability to Add Money Anytime: Yes
When Money Can Be Used: Available when needed, but early withdrawals may have penalties/taxes*
IRA Certificate of Deposit
Best for: A guaranteed return and a set timeline
Minimum to Open: $500
Rate Type: Fixed
How Earnings Grow: Monthly
Ability to Add Money Anytime: Typically at opening (varies)
When Money Can Be Used: At maturity, but early withdrawals may have penalties/taxes*
Traditional IRA
Best for: Potential tax advantages now and tax-deferred growth
Minimum to Open: $500 (or as applicable)
Rate Type: Fixed or Variable (depends on product chosen)
How Earnings Grow: Varies by option
Ability to Add Money Anytime: Yes, within IRS limits
When Money Can Be Used: Withdrawals are typically taxable; early withdrawals may have penalties/taxes*
Roth IRA
Best for: Tax-free qualified withdrawals later and long-term growth
Minimum to Open: $500 (or as applicable)
Rate Type: Fixed or Variable (depends on product chosen)
How Earnings Grow: Varies by option
Ability to Add Money Anytime: Yes, within IRS limits
When Money Can Be Used: Qualified withdrawals may be tax-free; early withdrawals may have penalties/taxes*
* Substantial penalty/tax may be imposed for early/premature withdrawal. Fees may reduce earnings. Tax rules can be complex and may vary based on your situation. Please consult your tax advisor for guidance.
Age Guidelines for IRAs
An IRA can be opened at any age as long as you have earned income. Withdrawals made before age 59½ may be subject to an IRS early withdrawal penalty unless an exception applies. Traditional IRAs generally require minimum withdrawals to begin at age 73. Roth IRAs do not require minimum withdrawals during the original owner’s lifetime.
*Tax rules can be complex and may vary based on your situation. Please consult your tax advisor for guidance.
Manage Your Individual Retirement Account with Retirement Central
Open an account, manage existing IRA accounts, access planning tools, and more through our Retirement Central portal.
Upgrade to a Local Partner
Retirement planning should feel approachable, secure, and built around your goals. With NESB, you can save for tomorrow with trusted, insured options today, backed by a community bank that puts people first.
Let's Get in Touch
Do you have questions about our Individual Retirement Accounts? Visit any branch or fill out the form to connect with us.