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Traditional IRA

An Individual Retirement Account (IRA) is your ticket to a secure financial future.

Home Federal Bank is committed to aiding your financial security. That's why we only require an initial deposit of $100 to open an IRA. As your community bank, we'll be available every step of the way to assist in your investment needs.

Summary

Traditional IRAs offer immediate tax benefits*
Contributions are tax deferred until withdrawal
$25 minimum contribution; only $100 to open
Can be opened and funded without employer participation
Increases savings since withdrawals may be subject to lower tax bracket
Funds are always available, but early withdrawal results in a penalty fee**

*Contact a tax professional for information regarding your personal tax benefits.

**There are some exceptions to make early, penalty-free withdrawals from your IRA, such as medical expenses uncovered by insurance, purchasing a first home or higher education expenses.