FDIC-insured IRAs

Save with security and flexibility

Traditional and Roth IRAs from Principal Bank® offer the features and tax advantages IRAs are known for, with the added security of FDIC insurance up to $250,000 per depositor. Principal Bank also offers the option for full FDIC insurance on IRAs with balances over $250,000.

Traditional IRA earnings grow tax-deferred until withdrawal, and certain contributions may be tax-deductible. To contribute to a traditional IRA, you or a spouse must earn income in the year the contribution is made. The annual contribution limit is $6,000 ($7,000 if you’re 50+).

Roth IRAs offer tax-free withdrawals after a five-year holding period, with the same contribution limits as a traditional IRA. Your modified adjusted gross income (MAGI) can’t exceed certain limits in the year the contribution is made.

Choose how you invest

Principal Bank offers two types of IRA options for investing your retirement savings:

Qualified Certificates of Deposit (CDs) give you stable, long-term savings.2

  • Minimum opening deposit of $1,000
  • Terms available from 12-60 months

Money Market IRAs give you higher yields on higher balances.

  • Minimum opening deposit of $1,000
  • Additional contributions allowed
  • Tiered interest rates compounded and credited quarterly
  • Checks available for customers over age 59½ (traditional IRAs only)
  • Six withdrawals allowed per month

See current Principal Bank IRA interest rates

Get started

Getting started with a Principal IRA is easy. Select the option that works best for you:

  • Want to handle things online? Open your IRA in just a few steps and choose from a set of investment options. 
  • Looking for more investment options, or some extra help? Call us at 800-247-8000, ext. 2251, to speak with a financial professional. 
  • Prefer to meet with a financial professional face to face? Let us connect you with one in your area.

Have a Principal Bank IRA?

You can log in to access account information online.

Have a question?

Call us at 800-672-3343 to talk to a personal banker today about your IRA options.

Or visit our Principal Bank online help.

Member FDIC.

1 Principal Bank® Automatic Rollover IRA:

  • Annual fee — $15 charged on the anniversary date of account opening after start of first year. Fee waived for balances $10,000 and above.
  • Closing fee — $30. Waived if funds transfer to a Principal Bank or Principal Financial Group® (Principal®) product.
  • Funds placed in an interest-bearing savings account.
  • Funds held in a Principal Bank® IRA are FDIC-insured up to $250,000 per depositor.
  • Confirmation mailed once IRA is set up.

2 A substantial penalty may be imposed for early withdrawal.

Bank products and services are provided through Principal Bank®, member FDIC. Principal Bank is a member of Principal Financial Group® (Principal®), Des Moines, IA 50392. Insurance products and plan administrative services provided through Principal Life Insurance Co. Securities offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker-dealers. Annuities, insurance, retirement plans, mutual funds and other securities are not insured by the FDIC, are not obligations or deposits for Principal Bank® nor guaranteed by Principal Bank, and involve risk, including possible loss of the principal invested. Principal Life, and Principal Securities are members of the Principal Financial Group®, Des Moines, Iowa 50392.