Individual Retirement Account (IRA)

While there's no such thing as a free ride, an IRA is your ticket to a secure financial future. We don't charge any setup or maintenance fees at FNB Barry, so maybe there is a free ride after all.

We offer both traditional and Roth IRAs with excellent tax benefits. Fund your future now, while your earning power is at its peak.

Summary
  • Tax-advantaged retirement savings
  • Competitive interest above standard savings rates
  • No setup or maintenance fees
  • $5,000 contribution limit per year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase Time Deposit Open Accounts within IRA
  • No minimum deposit to open
  • FDIC insured

See our current interest rates.

Traditional IRA
  • No income limits to open
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70½

See our current interest rates.

*Consult with a tax advisor

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

Roth IRA
  • Adjusted gross income must be less than $122,000 to contribute ($179,000 for joint filers)
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty**
  • No mandatory distribution age

See our current interest rates.

*Subject to some minimal conditions.

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