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Individual Retirement Accounts

Plan and save for the future with Lake City Bank’s IRA CD options. Both our Traditional IRA and Roth IRA are offered as certificate of deposit (CD) accounts, giving you a safe, predictable way to grow your retirement savings.

Whether you’re looking to reduce your taxable income today or enjoy tax-free income in retirement, an IRA CD can be a reliable part of your long-term strategy.

Traditional IRA CD

A Traditional IRA CD allows you to save for retirement with pre-tax contributions, which may reduce your taxable income now. Your savings earn a fixed rate for the CD term, and your money grows tax-deferred until you begin taking withdrawals. Key features include:

  • Potential tax deduction on contributions (based on eligibility)
  • Tax-deferred growth on earnings
  • Fixed interest rate for the CD term
  • Penalty-free withdrawals beginning at age 59½ (additional IRS rules may apply)

Roth IRA CD

A Roth IRA CD is funded with after-tax dollars, offering steady, CD-based growth with tax-free benefits in retirement. Key features include:

  • Tax-free growth on earnings
  • Tax- and penalty-free withdrawals in retirement (if conditions are met)
  • Fixed interest rate for the CD term
  • No required minimum distributions during your lifetime

Get Started with an IRA CD

Lake City Bank makes it simple to open an IRA CD and start building your retirement savings. Visit any of our branch locations or call our One Call Center at (888) 522‑2265 to learn more.

Contact your tax or legal advisor to answer your specific questions about eligibility, distributions and penalties.

Retirement Savings Calculator

Learn how long your retirement savings will last, based on your savings and inflation-adjusted withdrawals.

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Banking Tips & Insights

How to Pick the Right Retirement Plan

At first glance, retirement plan options can resemble alphabet soup — IRA, 401(k), 403(b) and more — which can feel overwhelming. But once you know the basics, choosing the right one becomes much easier. Read on for more about different plans and how to identify the right one for you.

Make the Most of Your 401(k)

Whether retirement is a distant spot on the horizon or approaching quickly, it’s never too late to make the most of your 401(k) plan.