FDIC-insured. Backed by the full faith and credit of the US Government.

Middle-aged couple looking over paperwork

Individual Retirement Accounts (IRA)

Individual Retirement Accounts (IRA)

The Granville National Bank believes that saving for retirement is one of the most important financial tasks you will ever undertake. The right savings plan provides a secure financial future. We offer IRA, SEP, KEOGH, SIMPLE and ROTH accounts.

Traditional IRA

Earned Income required to be eligible to deposit (income limitations).
Tax deferred interest until withdrawn.
Variable and fixed investment options available.
Distributions are penalty free if taken after attaining age 73.
Mandatory distributions up attaining 73 years of age.
FDIC insured.

SEP-IRA (Self Employed Pension Plan)

Earned income required to be eligible to deposit (income limitations).
Tax deferred interest until withdrawn
Contributions are tax deductible.
Contributions can be made after attaining age 73 if still have earned income.
Variable and Fixed investment options available.
Distributions are penalty free if taken after attaining age 73.
Mandatory distributions upon attaining 73 years of age..
FDIC insured.

ROTH IRA

Earned income required to be eligible to deposit (income limitations).
Tax free interest after a five-year holding requirement and:

1. After you have attained 59 1/2
2. After you have become disabled
3. First-time home purchase (limitation)
4. To your beneficiary after your death.

Distributions are not mandatory upon attaining 73 years of age.
Contributions are not tax deductible.
Contributions can be made after age 73 if still have earned income.
FDIC insured.

Simple IRA (Savings Incentive Match Plan for Employees of Small Employers)

Must have earned income to be eligible to deposit (income limitations).
Tax deferred interest until withdrawn.
Contributions can be made after attaining age 73 if still have earned income.
Employer sponsored pension plan with 100 or fewer employees.
Employees deduct a percentage from each paycheck to be put into a SIMPLE IRA for themselves.
Mandatory distributions upon attaining 73 years of age.
FDIC insured.