Individual Retirement Accounts


  • Minimum opening deposit only $100
  • Choose between Traditional IRAs, Roth IRAs, as well as a Coverdell Education Savings Account
  • Contribute to account at any time*
  • Traditional IRA and Roth IRA contribution limits: 
    • Taxable Year 2018 is $5,500
    • Taxable Year 2019 is $6,000
    • Taxable Year 2020 is $6,000
    • Individuals who are age 50 or over at the end of the calendar year can make a catch up contribution up to $1,000.
  • Earn a higher interest rate over CD interest rates
  • Contributions may be tax deductible**
  • Adjust your rate annually if over 59 ½ years old
  • Set up automatic transfers to or from a Gate City Bank Checking or Savings account
  • IRAs are separately insured by the FDIC up to $250,000

2019 IRA contributions can be made until April 15, 2020
2020 IRA contributions can be made until April 15, 2021

What Our Customers Say

"Gate City Bank is the Best bank. We are so glad we were referred to this bank, every time I call or stop at a branch I get the best service!"

Fargo, ND

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*Annual contribution limits apply.
**Ask your tax consultant about possible benefits and tax advantages.