happy young woman works at desk laptop and examines best IRA accounts with Gate City Bank

Saving for Retirement Made Simple

Our IRA options earn competitive interest and help you gain financial security for retirement.

You’ve worked hard for your money – and your future – and you deserve to have access to helpful team members who can show you next steps on your journey toward retirement. We offer traditional and Roth individual retirement account (IRA) options, and work with you to understand how each one works. We’ll set you up with competitive interest rates and financial peace of mind!

Whatever stage you’re at in life, we’ll help make it easy to understand where to invest your dollars. And with a minimum opening deposit of only $100, you can’t go wrong.

Here are some perks of choosing an IRA with us:

  • Higher Interest Rates

    You could earn a higher interest rate than a CD! (Learn more about our CD rates.)

  • Tax Benefits

    Contributions may be tax-deductible.1

  • Annual Adjustments

    You can adjust your rate annually if you’re over 59½ years old.

  • Automatic Transfers

    Easily set up automatic transfers to (or from) a Gate City Bank checking or savings account!

  • A Safe Investment

    IRAs are insured by the FDIC up to $250,000.

IRA contribution limit

Did You Know?

The contribution limit for the taxable year 2022 is $6,000, and for 2023 is $6,500. Contributions for 2023 can be made up until April 18, 2024. Individuals who are age 50 or over at the end of the calendar year can make a catch-up contribution up to $1,000.

Rates for Retirement Planning:

IRA Rates2

Accurate as of Monday, February 6, 2023
Get in touch or find a location to learn more and open your IRA today.
Term2 Interest Rate Annual Percentage Yield (APY)
Term26 Month (182 Day) Interest Rate4.00% Annual Percentage Yield (APY)4.04%
Term21 Year Interest Rate3.60% Annual Percentage Yield (APY)3.60%
Term22 Year Interest Rate3.25% Annual Percentage Yield (APY)3.25%
Term230 Month Interest Rate3.15% Annual Percentage Yield (APY)3.16%
Term23 Year Interest Rate3.10% Annual Percentage Yield (APY)3.10%
Term24 Year Interest Rate3.15% Annual Percentage Yield (APY)3.15%
Term25 Year Interest Rate3.20% Annual Percentage Yield (APY)3.20%

Exclusive Offers on CD Rates2

Accurate as of Monday, February 6, 2023
Get in touch or find a location to learn more and open your CD today.
Term Interest Rate Annual Percentage Yield (APY)
Term13 Month Interest Rate3.80% Annual Percentage Yield (APY)3.81%
Term25 Month Interest Rate4.00% Annual Percentage Yield (APY)4.01%

There’s More Than One Way to Save for Tomorrow.

are cds worth it

CDs

Did you know that Gate City Bank’s certificate of deposit (CD) options are safe, secure, insured and offer better interest rates?

woman in kitchen holds coffee and uses phone to enjoy a low minimum account balance

Relationship Savings

Interested in a savings account that offers no fees, competitive interest rates and a lower minimum balance? Our relationship savings account may be the perfect option for you!

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Regular Savings

Looking for a savings account that’s perfect for your walk of life? Our regular savings option features no fees, competitive interest rates and a low minimum balance.

happy man in office enjoys money market savings with phone and tablet

Money Market Savings

Looking for a savings account with a higher interest rate? Our user-friendly money market savings option features no fees, a great interest rate and a modest minimum balance. 

1 Ask your tax consultant about possible benefits and tax advantages.

2 The minimum balance required to open an account and earn interest and APY is $1,000 for certificates of deposit (CDs) and relationship CDs and $100 for individual retirement accounts (IRAs). An early withdrawal penalty may apply. Annual contribution limits apply for IRAs.