Individual Retirement Accounts

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Our Retirement Planning Solutions provide an excellent way to save for your retirement. Money you invest in a Traditional IRA may be tax-deductible from your income today.* The money in your Traditional IRA will count as income when you make withdrawals and you pay taxes on it then. Roth IRAs, however, work the opposite way: contributions are not tax-deductible, but distributions/withdrawals are tax-free.

Lake-Osceola State Bank offers you the choice of earning a fixed rate of interest with either a Traditional or Roth IRA. IRA Certificates of Deposit (IRA CDs) are set up for the duration of your choice, from 90 days to 5 years, and earn a fixed rate of interest for the entire term. The funds in IRA CDs are FDIC-insured to the legal limit, and are subject to IRS penalties for early withdrawal.

IRA Certificates of Deposit

  • Terms from 90 days to 5 years.
  • No monthly service charge
  • Fixed interest for the term of the certificate
  • IRS penalty for early withdrawal
  • FDIC-insured to the legal limit
  • Choice of Traditional IRA or Roth IRA

*Consult your tax advisor

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