Individual Retirement Accounts

Planning ahead for your retirement?  The Individual Retirement Account (IRA) is a government established account type which encourages individuals to save for their retirement.  The benefits of an IRA include tax-deferred earnings and in some cases, tax deductibility.   The Farmers Bank of Appomattox offers IRAs in the form of a savings account or a certificate of deposit.

  • Prepare for your retirement and receive possible tax advantages
  • Choose from Traditional or Roth IRA
  • Select from Variable rate Savings Plan or 5-year fixed-rate Certificate of Deposit
  • Begin to make withdrawals at age 59.5 without IRS penalty
  • Bank and/or IRS penalties may apply
  • Benefits include tax-deferred earnings and in some cases, tax deductibility
  • Choose between an IRA savings account and a certificate of deposit
Current Rates