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Individual Retirement Accounts
Retirement Accounts are a great way to reach your financial goals and plan for your retirement. Schuyler Savings Bank can help you start building your financial next egg for all those important events such as your first home, help finance college education or simply to establish a secure retirement portfolio. As your friendly and neighborly bank, we provide some of the highest CD yields in the area.
We offer Traditional, Roth, Sep, Education Savings Accounts and HSAs along with:
- Very competitive interest rates
- Choices on various terms of certificates of deposits
- Penalty-free withdrawals at age 59 ½
- FDIC insured
|Title||Compounding Method||Additional Information|
|Traditional IRA||Daily (365/365)||$5,500 maximum contribution per year for individuals under 50. $6,500 maximum contribution per year for individuals age 50 and over.|
|Roth IRA||Daily (365/365)||$5,500 maximum contribution for individuals under age 50. $5,000 maximum contribution per year for individuals age 50 and over.|
|Education Savings Account||Daily (365/365)||$2,000 Maximum contribution per year per child.|
For interest rates please click here.
Each retirement account has its own unique tax benefits and savings opportunities. You should consult with your personal tax advisor for more detailed tax information regarding these various IRA options. For additional information or an application to open an account, visit or call one of our bank representatives.