IRAs

It’s never too soon to start saving for a comfortable retirement. Chesapeake Bank makes it easy to put away additional funds–and in many cases, enjoy tax benefits–with your choice of FDIC-insured Independent Retirement Accounts.
Ask one of our IRA Specialists about a:

Traditional IRA – Anyone who earns a salary, wage or commission can open a traditional IRA. Contributions may be fully or partially tax-deductible if certain IRS rules and income limitations are met. The IRS also sets limits on annual contributions.

Roth IRA – Qualifying taxpayers can benefit from tax savings with a Roth IRA. While contributions are not tax deductible, funds can be withdrawn tax-free after an initial five-year holding period if you’re age 59 1/2 or older.

IRA Rollover – When you make a job change, you have the opportunity to “roll” your funds out of your previous employer’s qualified retirement plan into an IRA. This tax-free transfer is an opportunity to simplify your financial life by combining retirement accounts. It also can give you greater control over your investments. Special rules and limitations apply.

Check our competitive IRA RATES.