Individual Retirement Account

An IRA at Lubbock National Bank is flexible and safe. Choose from several methods of contribution, and you can roll over assets from another pension or retirement plan, while maintaining tax- deferred status on your funds in most cases. A Lubbock National Bank IRA can provide additional tax benefits. Be sure to consult your tax professional before investing.

Term One to Four Years
Min. to Open $1,000
Partial Withdrawls Allowed None
Early Withdrawal Penalty* 90 days for accounts opened 1 year - 18 months
180 days for accounts opened 2 years and longer
Interest Compounding Monthly
Interest Calculation Method Daily Balance Method
Renewals / Grace Period after Maturity to withdraw without Penalty Automatic Renewal 10-Day Grace Period

* Additional penalties may be applicable as required by the IRS.

The interest rate and annual percentage yield will not change for the term of the account. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded monthly and will be credited monthly on the current balance. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

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