Personal Banking

Retirement Accounts

It’s never too early or too late to start up a retirement account in Hawaii. Plan for retirement and reduce your taxes with our individual retirement accounts.

We help you keep your long-term goals within reach

Plan for your future with competitive rates and maximum Federal Deposit Insurance (FDIC) coverage. Hawaii National Bank offers both Traditional IRA and Roth IRA accounts.

Traditional IRA

  • No maintenance fee
  • Required minimum varies according to term and interest rate desired
  • Contributions (deposits) may be deductible for the tax year in which they were made
  • Interest is compounded daily for the term
  • Account funds are reported as income when withdrawn
  • Possible to contribute to an account for a non-working spouse
  • Distributions are permitted after age 59-1/2, and a minimum distribution is required at age 70-1/2
  • Any distribution prior to age 59-1/2 is subject to substantial penalty for early withdrawal and may be subject to an additional 10% Internal Revenue Service penalty
  • Insured up to $250,000 by the Federal Deposit Insurance Corporation

Roth IRA

  • No maintenance fee
  • Required minimum varies according to term and interest rate desired
  • Contributions (deposits) are not tax deductible and not reported as income when withdrawn
  • Interest is compounded daily for terms of 18 months; interest is compounded annually for terms of 19 through 60 months
  • No minimum distribution amount is required at age 70-1/2
  • Distribution prior to age 59-1/2 is subject to substantial penalty for early withdrawal and may be subject to 10% Internal Revenue Service penalty
  • Qualified distributions including earned interest are tax free
  • Insured up to $250,000 by the Federal Deposit Insurance Corporation

It’s never too early to start.

  • To open an account or learn more, stop by any branch.

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  • Questions? We're here to help online or over the phone.

    Contact Us