Individual Retirement Accounts

Banking for Life – Today, Tomorrow and Beyond

What do you want to do when you retire? Do you want to travel? Spend winters somewhere warm? Buy a boat and spend every day out on the lake? By planning now, you can make your retirement plans come true, and Oostburg State Bank can help – providing the expert advice you need and the unparalleled customer service you deserve.

Account Types Opening Requirement Minimum Deposit Term length Tax Deductible Deposits Features
Flexible IRA
Get Started		 $50 $50 None Yes
  • FDIC insured to $250,000
  • 10-day grace period
  • Current interest rates are available here.
Fixed Rate IRA
Get Started		 $1,000 None 6-60 month terms Yes
  • Guaranteed rate of return
  • FDIC insured to $250,000
  • 10-day grace period
  • Current interest rates are available here.
Roth IRA
Get Started		 $1,000 None 6-60 month terms No
  • No minimum distribution required
  • No age restriction for contributions
  • Interest earned is not taxed by the Federal government
  • No government penalty imposed on principal withdrawals
  • Interest can be withdrawn after 5 years with no government penalty if considered a qualified distribution
  • Guaranteed rate of return
  • FDIC insured to $250,000
  • 10-day grace period
  • Current interest rates are available here.
Coverdell Education Savings Account
Get Started		 No None, $2,000 contribution limit per child per year N/A No
  • Specifically for people saving money for educational purposes
  • Treated similar to IRA money
  • Interest earned is not taxed by the federal government
  • FDIC insured to $250,000
  • Current interest rates are available here.

Retirement Calculators

Questions About Retirement?

Let us guide you through an attainable path to retirement.