Individual Retirement Accounts

• Competitive interest above standard savings rates
• No setup fees
• No monthly or annual maintenance fees
• $6,000 contribution limit per year
• Additional $1,000 "catch-up" contribution allowed for ages 50+
• Funds can be used to purchase CDs within IRA
• $1,000 minimum deposit to open

A traditional IRA can provide potential tax relief today. Contact your Republic Bank of Arizona representative about this retirement-saving option.

Details:

• No income limits to open
• No minimum contribution requirement
• Contributions are tax deductible on state and federal income tax¹
• Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
• Withdrawals can begin at age 59½
• Early withdrawals subject to penalty²
• Mandatory withdrawals at age 72³

¹Subject to some minimal conditions. Consult a tax advisor.

²Certain exceptions apply, such as healthcare, purchasing first home, etc.

³If you turned age 70½ prior to January 1, 2020, your RMD are based on 70½, not age 72.