Savings Accounts

Individual Retirement Accounts (IRAs)

Take charge of your retirement today—start saving now for a big payoff tomorrow.

Take control over your own future.

Why not enjoy tax benefits while saving for retirement? Texas First Bank Traditional or Roth IRA lets you earn competitive interest while you fund your future. Start today and you may be able to retire sooner than you think!

Competitive dividends above standard savings rates
No setup fees¹
No monthly or annual maintenance fees
Contributions may be tax deductible²
$1 minimum deposit to open

What are the differences between Traditional and Roth IRAs?

There are advantages to each. One of the biggest differences is that a Traditional IRA typically provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of your retirement.

Traditional IRA

No income limits to open
No minimum contribution requirement
Contributions are tax deductible on state and federal income tax³
Earnings are tax-deferred until withdrawal (when usually in the lower tax bracket)
Withdrawals can begin at age 59 ½
Early withdrawals are subject to penalty⁴
Mandatory withdrawals at age 72

Roth IRA

Income limits to be eligible to open Roth IRA²
Contributions are NOT tax-deductible
Earnings are 100% tax-free at withdrawal³
Principal contributions can be withdrawn without penalty³
Withdrawals on earnings can begin at age 59 ½
Early withdrawals are subject to penalty⁴
No mandatory distribution age
No age limit on making contributions as long as you have earned income

Ready to take the next step?

Click the link below to request information about our IRAs.

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¹Substantial penalty for early withdrawal

²Consult a tax advisor.

³Subject to some minimal conditions. Consult a tax advisor.

⁴Certain exceptions apply, such as healthcare, purchasing a first home, etc.