IRA Savings Accounts
Earn dividends on your money and save on your terms. Preparing for your future is easy with one of our retirement savings accounts.
- Long-term saving
- Flexible contribution amounts
- Early savers
Explore IRA Options
Traditional IRA
Traditional IRAs are potentially tax-deferred retirement plans. You may not pay taxes on your contributions until you withdraw the funds.
Features:
- Contribute at any time until the age of 72 when earning income2
- Make tax-deferred growth and tax-deductible contributions
- Pay taxes upon withdrawal
Best For:
- Individuals who maxed out their employer-sponsored retirement plan
- Individuals who are beginning their retirement-saving journey
- Individuals who may not have access to a workplace-sponsored retirement plan
Roth IRA
With Roth IRAs,3 you pay taxes now and withdraw funds tax-free when you retire.
Features:
- Tax-free qualified withdrawal
- Tax-free growth
- Contribute at any time and at any age with earned income
Best For:
- Individuals who expect to be in the higher tax bracket when taking withdrawals
- Individuals who are beginning their retirement-saving journey
SEP (Simplified Employee Pension) IRA
SEP IRAs are retirement savings plans that provide self-employed individuals and participating business owners an easy way to save for themselves and their employees.
Features:
- Grow tax-deferred investments until retirement when distributions are taxed as income
- Contribute anytime to your own and your employee’s SEP plans
- Elevated contribution limits
Best For:
- Individuals who are self-employed and owners of a small business
- Individuals who would like to take advantage of tax-deductible contributions
Want More Information About Saving?
Explore our resources at Navy Federal's Savings Learning Center.
Savings Resources
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Moving Your Money: IRA Transfers & Rollovers
Consolidating your IRAs can simplify your retirement savings and provide tax benefits.Learn Moreabout Moving Your Money: IRA Transfers & Rollovers -
Savings Rates
Explore and compare dividend rates of all Navy Federal savings products.Learn Moreabout Savings Rates -
Switch to Paperless Statements
Reduce waste while increasing your account security. Make the switch to paperless statements.Learn Moreabout Switch to Paperless Statements