IRAs help you to invest in the future. We help you choose which IRA will be the best personal fit for your needs.
There's no time like the present to begin preparing for your future. Accomplish this by opening an Individual Retirement Account (IRA) with the Bank of Denver. When possible, make deposits with NO restrictions. Your IRA also incurs NO monthly Service Fees. Because funds are invested in a long-term Certificate of Deposit, the best rate possible is obtained and in many cases is better than a regular Certificate of Deposit. With IRAs, guidelines established in accordance with Internal Revenue Service
| Year | Under Age 50 | Over Age 50 |
| 2011 | $5,000.00 | $6,000.00 |
| 2012 | $5,000.00 | $6,000.00 |
| 2013 | $5,000.00 | $6,000.00 |
Annual contribution limits for Simplified Employee Pension (SEP) IRAs and Simple IRAs are greater and are primarily dependent on an individual's income. The annual contribution limit for Coverdell Savings Accounts (formerly Education IRAs) is $2,000.
| Minimum To Open | Fixed or Variable Rate | Interest Paid Quarterly | Early Withdrawal Penalty1 | Closure Fee | |
| Traditional IRA2 | $50 | Either | Yes3 | Yes | $50 |
| Roth IRA2 | $50 | Either | Yes3 | Yes | $50 |
| Simple IRA2 | $50 | Either | Yes3 | Yes | $50 |
| Coverdell Savings Accounts2 | $50 | Either | Yes3 | Yes | $50 |
| SEP IRA2 | $50 | Either | Yes3 | Yes | $50 |
| 1 | Certain circumstances could allow the Early Withdrawal Penalty to be waived; i.e., over the age of 59 1/2. |
| 2 | All IRAs are invested in a 12 or 18-month Certificate of Deposit, with an option of a fixed or variable rate. |
| 3 | Interest is compounded daily and paid quarterly. |
