Traditional IRA

Tax-deductible contributions

4.50% APY
Variable Rate
  • Tax-deductible contributions
  • Tax-deferred growth
  • $7,000 annual limit (2026)
  • $8,000 if age 50+
  • Flexible investment options
  • Required distributions at 73
Open Traditional IRA

Roth IRA

Tax-free retirement income

4.50% APY
Variable Rate
  • Tax-free withdrawals in retirement
  • After-tax contributions
  • $7,000 annual limit (2026)
  • $8,000 if age 50+
  • No required distributions
  • Income limits apply
Open Roth IRA

SEP IRA

For self-employed & small business

4.50% APY
Variable Rate
  • Higher contribution limits
  • Up to 25% of compensation
  • $69,000 max for 2026
  • Easy to set up & maintain
  • Tax-deductible contributions
  • Ideal for self-employed
Open SEP IRA

IRA Comparison Guide

Feature Traditional IRA Roth IRA SEP IRA
Tax Treatment Tax-deductible contributions, taxed at withdrawal After-tax contributions, tax-free withdrawals Tax-deductible contributions, taxed at withdrawal
2026 Contribution Limit $7,000 ($8,000 if 50+) $7,000 ($8,000 if 50+) Lesser of 25% of compensation or $69,000
Income Limits None for contributions Yes - phase-out applies None
Required Distributions Yes, starting at age 73 No RMDs during owner's lifetime Yes, starting at age 73
Early Withdrawal Penalty 10% before age 59½ (exceptions apply) 10% on earnings before 59½ (contributions anytime) 10% before age 59½ (exceptions apply)
Best For Current tax deduction needed Tax-free retirement income desired Self-employed & small business owners