Coronavirus (COVID-19) Update
The health, safety and well-being of our customers, employees and communities continues to be our top priority. Due to varying safety recommendations in the areas surrounding our branches, some location lobbies are open to the public, while others remain open by appointment only. Please use our Lobby Reopening Schedule to determine if an appointment is required before your visit.
The main difference between a Roth IRA and a traditional IRA is that deposits into the former are not tax-deductible. The advantage is that when you reach retirement age, withdrawals from your Roth IRA are tax-free.
Additional features of a Roth IRA from Great Western Bank:
- You select the term of the account
- No fees to maintain your account
- No fees for internal transfers or rollovers
- Withdrawals for education or your first home1
1Any money withdrawn is still taxable as regular income and may be subject to bank penalty.
Please consult a tax advisor to determine if the earnings would be taxable or not.