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Build a secure future and maybe even give yourself a tax break* with an IRA from Southern Bank.

We offer competitive interest rates and a wide range of terms to meet your needs.  Whether your ideal retirement is full of travel and excitement or golfing and relaxation, we want to help make it happen.  

  • Competitive interest rates
  • Traditional and Roth IRA options
  • No setup fees
  • Low maintenance fees**
  • Annual contribution limits apply
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase certificates of deposit (CDs) within IRA
  • $1,000 minimum deposit to open

There are advantages to both Traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A Traditional IRA provides potential tax relief today*, while a Roth IRA has the potential for the most tax benefit at time of retirement.  

  • No income limits to open
  • No minimum contribution requirement
  • Low maintenance fees***
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal 
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70 ½
  • Income limits to be eligible to open Roth IRA***
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59 ½
  • Early withdrawals on interest subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income  

Ready for a new account?

Provide a few basic details to start the simple process.