Individual Retirement Accounts
Which IRA Products are right for you?
A Nevada State Bank Individual Retirement Account (IRA) is the smart choice to provide for your future retirement needs. It can also be used to pay for education or to help fund a down payment for first-time home purchases.
At Nevada State Bank there is no charge to set up an IRA. You can also transfer or roll over funds from other retirement plans.
We currently offer three types of IRAs:
An IRA is a personal savings plan that allows you to set aside money for retirement, while offering tax advantages. It is an ideal way to grow earnings that are tax-deferred, while allowing you to deduct your contributions (and your spouse’s) at tax time. Withdrawals are subject to federal income tax except when used for education or first-home purchases.
Contributions to Roth IRAs are made from earned income that has already been taxed. So while you can't deduct contributions from your taxes, any withdrawals (up to the total of your contributions) are free from federal income tax.
Officially called Coverdell Education Savings Accounts, these are trust or custodial accounts set up solely for paying qualified education expenses for the designated beneficiary of the account.
Timed CDs & MarketPlus IRA CDs
Nevada State Bank offers two types of CDs that may be used as IRAs
Questions? Call us today at 800-727-4743, or contact your local Nevada State Bank branch Relationship Manager to find out how our Personal Banking Services can benefit you.
*To apply for an IRA or to learn more, visit your nearest branch. Note: For more information on FDIC insurance up to $250,000 on retirement accounts, click here. IRS penalties may be assessed for withdrawals made prior to the age of 59 1/2. Funds on Education IRAs must be distributed before the beneficiary reaches the age of 30.