EVERYONE NEEDS A SAVINGS ACCOUNT.
AND A TELLER WHO CALLS THEM BY NAME.
Individual Retirement Accounts
You’ve probably heard the term “IRA” before. It stands for Individual Retirement Account, and it’s intended to do just that—help you save for retirement. At Citizens Bank, we’re pleased to offer several types of IRAs.
Citizens Bank IRAs include:
With a traditional IRA, you typically pay taxes on the money that you withdraw from the account. However, you may be able to claim a tax deduction when you deposit money into the account.
Roth IRAs offer sizable tax advantages that make them a great way to save money for retirement. Unlike a 401(k), the money put into a Roth IRA comes from post-tax dollars. However, no taxes are charged on the growth or the distributions from Roth IRAs.
As the name suggests, these IRAs are specifically designed to help you save for education. You receive special tax considerations and benefits if the money you save is used toward education.
To open your Citizens IRA, contact us today.