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Individual Retirement Account (IRA)

An IRA is a type of account established to assist people with planning for their retirement needs. Generally, money put into an IRA cannot be taken out before age 59 1/2 without penalty from the IRS (there are exceptions to this rule). Farmers State Bank of Turton offers the following types of IRA accounts:

  • Roth IRA
  • Traditional IRA
  • Educational IRA
  • SEP IRA (if you are the owner of a small business)
  • Free Internet banking

There’s a minimum deposit amount of $100 to open any type of IRA. Farmers State Bank of Turton offers competitive rates on IRAs. Please call or stop in and talk to our friendly staff to find out the current rates.

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