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:
You could earn a higher interest rate than a CD! (Learn more about our CD rates.)
Contributions may be tax-deductible.1
You can adjust your rate annually if you’re over 59½ years old.
Easily set up automatic transfers to (or from) a Gate City Bank checking or savings account!
IRAs are insured by the FDIC up to $250,000.
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.
|Term2||Interest Rate||Annual Percentage Yield (APY)|
|Term23 Month (90 Day)||Interest Rate4.91%||Annual Percentage Yield (APY)5.00%|
|Term26 Month (182 Day)||Interest Rate4.94%||Annual Percentage Yield (APY)5.00%|
|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%|
|Term||Interest Rate||Annual Percentage Yield (APY)|
|Term13 Month||Interest Rate4.99%||Annual Percentage Yield (APY)5.00%|
|Term25 Month||Interest Rate4.74%||Annual Percentage Yield (APY)4.75%|
With competitive rates and varying term options, our CDs are perfect for any life stage. Earn competitive rates easily when you open a CD with Gate City Bank!
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!
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.
1 Ask your tax consultant about possible benefits and tax advantages.
2 We're here to tell ya the minimum balance required to open an account and earn interest and APY is $1,000 for certificates of deposit (CDs) and $100 for individual retirement accounts (IRAs). Ope, an early withdrawal penalty may apply. Annual contribution limits apply for IRAs.