Get a traditional or Roth IRA with the added security of FDIC insurance.
In addition to the standard features and tax advantages, Principal Bank® traditional and Roth IRAs come with the added security of FDIC insurance up to $250,000 per depositor.
Traditional IRA earnings grow tax-deferred until withdrawal, and certain contributions may be tax-deductible. You'll be taxed on the pre-tax savings when you withdraw it in retirement. To contribute to a traditional IRA, you or your spouse must earn income in the year the contribution is made. The annual contribution limit is $6,500 ($7,500 if you’re age 50 or more).
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.
Principal Bank offers two investing options for your IRA savings:
Qualified certificates of deposit (CDs) give you stable, long-term savings.
Minimum deposit of $1,000
Terms available from 12-60 months
Minimum 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
Opening 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.
Let us connect you with one in your area.