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What is an IRA? | Traditional IRA | Roth IRA

What is an IRA?

Individual Retirement Accounts (IRAs) are a great way to achieve your financial goals and provide a secure, comfortable retirement. IRAs offer either a tax-deferred or tax-free way of saving money.

We offer two types of IRAs: Traditional IRA and Roth IRA. At Mutual Federal Bank you can open your individual retirement accounts as FDIC-insured Certificates of Deposit with terms ranging from 6 to 18 months.

Don't know how much money you need to save for retirement? Try our Retirement Calculator.

You should consult your tax advisor to help you decide which kind of IRA will be the most beneficial for you.

* Penalties for early withdrawal of funds may apply. Rates accurate as of June 23, 2010.