Roth IRA

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1Any money withdrawn is still taxable as regular income and may be subject to bank penalty.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.