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  • Home Equity Line of Credit

    Home Equity Line of Credit

    A variable rate HELOC lets you access funds as needed. Only pay interest if you use the funds, and only on the amount you use. Re-access as needed without re-applying.

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  • Private Reserve Line

    Private Reserve Line

    Get a pre-approved credit line to avoid costly overdraft protection fees. You can also use the funds for any purpose, and only pay interest on what is used.

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Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRAs)

The sooner you start preparing for retirement, the sooner you can actually retire. City National Bank makes it easy to get started.

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

Traditional IRA
  • No income limits to open
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70½

*Subject to some minimal conditions. Consult a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

Roth IRA
  • Adjusted gross income must be less than $122,000 to contribute ($179,000 for joint filers)
  • 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  • Principal contributions can be withdrawn without penalty*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 59½
  • Early withdrawals on interest subject to penalty**
  • No mandatory distribution age

*Subject to some minimal conditions. Consult a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.