Individual Retirement Accounts

An Individual Retirement Account (IRA) is a great way to boost your savings for a secure retirement. We can help you reach your retirement goals by offering traditional or Roth IRA's. You can open an Individual Retirement Account with as little as $100.

Learn about our Individual Retirement Account options below. If you don't see what you're looking for on this list, or if you have additional questions, just give us a call at 540-591-5000 or stop by one of our convenient locations. One of our dedicated employees will be happy to assist you over the phone or in person.

IRA Account Terms

You can choose a maturity term from 1, 2, 3, 4, or 5 years for a guaranteed interest rate.

1 year

  • Minimum opening deposit $100.
  • Guaranteed interest rate for the term of the CD.
  • Interest is compounded and paid quarterly.
  • Penalty for early withdrawal is six (6) months interest.
  • Check today's IRA Rates

24 Months

  • Minimum opening deposit $100
  • Guaranteed interest rate for the term of the IRA.
  • Interest is compounded and paid quarterly.
  • Penalty for early withdrawal is nine (9) months.
  • Check today's IRA Rates

36, 48 or 60 Months 

  • Minimum opening deposit $100.
  • Guaranteed interest rate for the term of the IRA.
  • Interest is compounded and paid quarterly.
  • Penalty for early withdrawal is twelve (12) months.
  • Check today's IRA Rates

IRA Rollover

If you have received a disbursement from a qualified plan, profit sharing, or have an IRA maturing at another financial institution, you can roll these funds into a Bank of Botetourt IRA and maintain a tax-deferred status on the funds. The funds must be deposited within 60 days of receipt in order to defer taxes until retirement.

IRA Transfer

You can transfer your IRA from another institution directly to Bank of Botetourt. Our friendly Retail Banking Representatives will be happy to initiate an IRA transfer for you.

Opening an IRA Account

Just give us a call at 540-591-5000 or stop by one of our convenient locations. Our friendly Retail Banking Representatives will be happy to assist you in determining which IRA is right for you and open the account.

Check today's IRA Rates

Disclosures

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