Personal Banking

Individual Retirement Accounts

PLAN AHEAD WITH AN IRA

Whether you’re just getting started or looking to boost your retirement savings, an Individual Retirement Account (IRA) is a smart step toward your future. We offer options to help you save in a way that fits your goals and timeline.

Explore Your IRA Choices

Each account is designed to support your long-term savings goals – find the one that fits your future.

Traditional and Roth IRA termsMinimum to open
8-Month IRA - Single Deposit$500
8-Month ROTH IRA - Single Deposit$500
12-Month IRA - Flexible$25
12-Month ROTH IRA - Flexible$25
24-Month IRA - Single Deposit$500
24-Month ROTH IRA - Single Deposit$500
36-Month IRA - Single Deposit$500
36-Month ROTH IRA - Single Deposit$500
60-Month IRA - Single Deposit$500
60-Month ROTH IRA - Single Deposit$500

Important Notes:

  • All Skyline National Bank IRAs will auto-renew at maturity.

  • Annual contribution limits apply*.

  • The penalties for early withdrawal are three months’ interest on the 8- and 12-month IRAs and ROTH IRAs; and the penalty is six months’ interest on 24-, 36-, and 60-month IRAs and ROTH IRAs.

*Annual contributions are limited to the lesser of $7,000 or 100% of participant’s annual income. A working spouse can contribute $7,000 for a non-working spouse. An individual who attains age 50 before the close of a taxable year may contribute an additional $1,000 “catch-up” contribution for that taxable year.
Additional fees and terms apply. For more details, our Product and Service fee schedule is available upon request.