ROTH IRA

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Grow Your Retirement Savings
Tax-Free With a Roth IRA

When you save for retirement with a Roth IRA through PlainsCapital Bank, the interest you earn over time is sheltered from federal taxes. And better yet, qualified withdrawals are tax free as well.

Features

Earnings are tax-free and penalty-free as long as the account is open for five tax years and funds are withdrawn for a qualified reason (age 59 1/2, death, disability, or first-time home purchase)¹
No distribution requirement during the life of the owner
CD terms available from one to five years with fixed rates
Accepts rollovers from qualified retirement plans; consult your tax advisor first
FDIC insured up to the maximum amount allowable by law

Eligibility

You must earn compensation (or your spouse must earn compensation if you file a joint tax return)
Your modified adjusted gross income (MAGI) must be less than IRS limits

Requirements

Minimum deposit: $100
Contributors under age 50 may contribute up to $6,500 in 2023
Contributors age 50 or older may contribute up to $7,500 in 2023
Contributions cannot exceed the compensation

Please consult your tax professional for tax rules regarding IRAs.

¹Age 59 1/2, disability, death, or first-time home purchase. Lifetime limit for exemption on a first-time home purchase is $10,000.

Open An Account

Speak to a Specialist

866-762-8392

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