IRA savings options
Whether you're just starting a career or already in retirement, the decisions you make today will help to shape your future.
With a Traditional or even a Roth IRA, the tax benefits may allow your savings to grow more quickly than if they were held in a taxable account. Even if you have an employer-sponsored retirement plan, such as a 401(k), you can still contribute to an IRA each year to further boost your retirement savings. Plus, if you currently don’t have an employer-sponsored retirement plan, an IRA can be an easy way to start saving for your future retirement goals.
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Traditional IRA1
Roth IRA1
Best for:
People who expect to retire in a lower tax bracket or if you need to rollover assets from a traditional employer-sponsored plan.
People who anticipate being in a higher tax bracket upon retirement. Contributions are not eligible for a tax deduction, but there are more options for withdrawal.
Tax implications2
Tax deferred earnings. Contributions may be tax deductible.
Tax deferred earnings. Regular contributions may be withdrawn tax and IRS penalty free. Withdrawals of earnings may be tax free.
Age eligibility
(2023 and 2024 contributions)
None
None
Max. regular contributions (2024)
$7,000 Combined limit for Traditional and Roth
$7,000 Combined limit for Traditional and Roth
Catch-up contribution limit (2024)
$1,000 for those over age 50 at year-end
$1,000 for those over age 50 at year-end
Income limitations3
(2024 tax year)
None
Contribution phase-out ranges:
Single and Head of Household
$146,000 - $161,000
Married, filing jointly
$230,000 - $240,000
Contribution deadline
Tax deadline for year to which contribution applies
Tax deadline for year to which contribution applies
Compare IRAs
Best for:
Best for:
Tax implications2
Tax implications2
Age eligibility
(2023 and 2024 contributions)Age eligibility
(2023 and 2024 contributions)Max. regular contributions (2024)
Max. regular contributions (2024)
Catch-up contribution limit (2024)
Catch-up contribution limit (2024)
Income limitations3
(2024 tax year)Income limitations3
(2024 tax year)Contribution deadline
Contribution deadline
Traditional IRA1
Best for:
People who expect to retire in a lower tax bracket or if you need to rollover assets from a traditional employer-sponsored plan.
Tax implications2
Tax deferred earnings. Contributions may be tax deductible.
Age eligibility
(2023 and 2024 contributions)None
Max. regular contributions (2024)
$7,000 Combined limit for Traditional and Roth
Catch-up contribution limit (2024)
$1,000 for those over age 50 at year-end
Income limitations3
(2024 tax year)None
Contribution deadline
Tax deadline for year to which contribution applies
Roth IRA1
Best for:
People who anticipate being in a higher tax bracket upon retirement. Contributions are not eligible for a tax deduction, but there are more options for withdrawal.
Tax implications2
Tax deferred earnings. Regular contributions may be withdrawn tax and IRS penalty free. Withdrawals of earnings may be tax free.
Age eligibility
(2023 and 2024 contributions)None
Max. regular contributions (2024)
$7,000 Combined limit for Traditional and Roth
Catch-up contribution limit (2024)
$1,000 for those over age 50 at year-end
Income limitations3
(2024 tax year)Contribution phase-out ranges:
Single and Head of Household
$146,000 - $161,000
Married, filing jointly
$230,000 - $240,000Contribution deadline
Tax deadline for year to which contribution applies
Rates
Type | Balance | Interest rate | Annual percentage yield1 | Minimum balance | Monthly service fee if below minimum balance |
|---|---|---|---|---|---|
Rates Effective: 11-03-2025 1 Annual percentage yield subject to change. | |||||
Type | Balance $0 - $1,000 | Interest rate 3.69% | Annual percentage yield1 3.75% | Minimum balance $5 | Monthly service fee if below minimum balance No monthly fee |
Type | Balance $1,000.01 and higher | Interest rate 0.10% | Annual percentage yield1 0.10% | Minimum balance | Monthly service fee if below minimum balance No monthly fee |
Type Secondary Savings | Balance $0.00 and higher | Interest rate 0.10% | Annual percentage yield1 0.10% | Minimum balance $0 | Monthly service fee if below minimum balance No monthly fee |
Type | Balance $0.00 and higher | Interest rate 0.15% | Annual percentage yield1 0.15% | Minimum balance $0 | Monthly service fee if below minimum balance No monthly fee |
CD term1 | Opening deposit amount | Interest rate | Annual percentage yield2 | Interest rate with OnPoint Rewards3 | APY with OnPoint Rewards3 | Minimum balance |
|---|---|---|---|---|---|---|
Rates Effective: 11-03-2025 Learn more about traditional & Roth IRA certificates of deposit1 Subsequent deposits can be made on traditional and Roth IRA certificates of deposit. 2 Annual percentage yield subject to change. 3 Additional products and services are required to qualify for the OnPoint Rewards rate. Please see an OnPoint representative for more information or click here. Booster Rate Certificate of Deposit. You may elect to adjust your rate, based on the rate currently offered for this account, once during the original term of the Certificate of Deposit. Booster rate feature excludes promotional rate offers. Booster Rate applies to Certificate of Deposits opened prior to May 1, 2023. | ||||||
CD term1 3 months | Opening deposit amount $1,000 | Interest rate 1.54% | Annual percentage yield2 1.55% | Interest rate with OnPoint Rewards3 1.79% | APY with OnPoint Rewards3 1.80% | Minimum balance $1,000.00 |
CD term1 6 months | Opening deposit amount $1,000 | Interest rate 1.79% | Annual percentage yield2 1.80% | Interest rate with OnPoint Rewards3 2.04% | APY with OnPoint Rewards3 2.06% | Minimum balance $1,000.00 |
CD term1 12 months | Opening deposit amount $1,000 | Interest rate 2.28% | Annual percentage yield2 2.30% | Interest rate with OnPoint Rewards3 2.53% | APY with OnPoint Rewards3 2.56% | Minimum balance $1,000.00 |
CD term1 18 months | Opening deposit amount $1,000 | Interest rate 2.33% | Annual percentage yield2 2.36% | Interest rate with OnPoint Rewards3 2.58% | APY with OnPoint Rewards3 2.61% | Minimum balance $1,000.00 |
CD term1 24 months | Opening deposit amount $1,000 | Interest rate 2.38% | Annual percentage yield2 2.41% | Interest rate with OnPoint Rewards3 2.63% | APY with OnPoint Rewards3 2.66% | Minimum balance $1,000.00 |
CD term1 36 months | Opening deposit amount $1,000 | Interest rate 2.42% | Annual percentage yield2 2.45% | Interest rate with OnPoint Rewards3 2.67% | APY with OnPoint Rewards3 2.70% | Minimum balance $1,000.00 |
CD term1 48 months | Opening deposit amount $1,000 | Interest rate 2.47% | Annual percentage yield2 2.50% | Interest rate with OnPoint Rewards3 2.72% | APY with OnPoint Rewards3 2.75% | Minimum balance $1,000.00 |
CD term1 60 months | Opening deposit amount $1,000+ | Interest rate 2.52% | Annual percentage yield2 2.55% | Interest rate with OnPoint Rewards3 2.77% | APY with OnPoint Rewards3 2.81% | Minimum balance $1,000.00 |
Let’s make a plan for tomorrow, today.
Planning for your future is important. Thankfully, OnPoint has what it takes to help you craft a comprehensive plan to help you make the most of your financial future.
IRA savings accounts FAQs
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APY = Annual Percentage Yield. APY is accurate as of October 29, 2025. Rates on Regular and IRA Savings are variable and may change after the account is opened. Terms and conditions apply. Fees could reduce the earnings on the account. Membership is required and subject to approval; not everyone will qualify. Limit one Member Savings account per person.
Compounding and Crediting. Interest will be compounded and credited as set forth on the Deposit Rate Sheet.
All interest is compounded and credited monthly.
Qualification Requirements Per Monthly Cycle: To qualify for OnPoint Rewards, you must meet the following criteria: Ten (10) year relationship with OnPoint. Six (6) qualified transactions in the same checking account during the qualification period. These transactions can include deposits, withdrawals, automatic payments, checks, and debit card transactions. OnPoint generated transactions such as fees or interest credits do not count Qualification is processed on the 15th and the last day of each month for the preceding 30 days of activity.
For IRA Certificate of Deposit accounts, the APY is based on an assumption interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings.
You may make additional deposits only for a term of 3, 6, 12, or 24 months. Subsequent deposits are excluded on promotional offerings unless otherwise stated. 7. We may impose an early withdrawal penalty if you withdraw any of the principal of your IRA Certificate of Deposit account before the maturity date. 8. Information contained on this website does not constitute legal or tax advice. Individuals should consult with their financial adviser and/or attorney for advice. For more information, please refer to the Membership & Account Agreement.
- Additional account details may apply.
- See your tax advisor for information.
- Please view IRS Publication 590 for more information about income limitations at www.irs.gov or see your tax advisor for more information.
