Individual Retirement Account (IRA) Rates

Traditional, Roth, & SEP IRA's

$2,000 minimum to open account

Effective Date: July 9, 2024
Term/Type Interest Rate APY*
18 Month Variable4.25%4.32%
18 Month Fixed5.00%5.06%
30 Month Fixed4.80%4.86%
42 Month Fixed4.25%4.30%

*You must maintain the minimum daily balance to obtain the disclosed APY (Annual Percentage Yield). Luana Savings Bank reserves the right to change interest rates and terms without notice. You may incur a penalty for early withdrawal and fees may reduce earnings. Roth and Traditional IRAs have a maximum contribution amount of $6,500 annually for 2023. If you are 50 or older, you can make an additional $1,000 “catch-up” contribution annually. SEP IRAs have a maximum contribution amount of 25% of your net earnings from self-employment (not including contributions for yourself) up to $61,000 for 2022 or $66,000 for the 2023 tax year. Must be a resident of Iowa. Consult your tax advisor to know what IRA is going to be best for you and the amount you are able to contribute.

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