First Roth IRA is the only IRA account that allows you to receive your contributions and the increase of the contributed¹ amounts free of income tax once you reach the age of 60.

Icon of a hand with a bag of money.

Additional income to your Social Security or other retirement benefit plans once you qualify1

 

Bills icon.

Opening deposit of $500

 

Paper sheet icon with percentage symbol and calculator.

Quarterly account statements

 

Icon of a sheet with circle graphics.

Annual summary

 

Hand with coins icon.

Annual contributions are not deductible on your income tax return 

 

Icon of a clock aside a dollar symbol.

Annual Percentage Yield (APY) is subject to maintaining the deposited amount in the account until maturity

 

Icon of a hand with money.

Withdrawals made before maturity are subject to penalties2

 

HOW TO APPLY

Ready to apply?

Make sure you have the following documents readily available before applying.

 

In addition to your Social Security card, you will also need one valid ID with photo issued by the Government of Puerto Rico, such as:

 

 

  • Driver's license

  • Passport

  • Military ID

  • Government ID

With these documents in hand, apply here.

 

ACCOUNTS THAT COMPLEMENT EACH OTHER
Pig-shaped piggy bank with checks next to it.

Enjoy a Visa Infinite debit card with the Preferente account.

Man smiling with laptop in his hands.

Cuenta UNO has no minimum balance.

Christmas tree star.

Secure your holiday expenses with the Christmas Club account.

FREQUENTLY ASKED QUESTIONS

 

The First Roth IRA account is an individual retirement account that allows you to receive your contributions tax free once you have reached the age of 60.

 

The IRA and CD accounts both allow you to save money for your future. The IRA gives you a tax benefit. The CD account is a deposit account with a defined term.

 

An IRA account allows you to save money for retirement, thus complementing your Social Security income.  In addition, it gives you a tax benefit.

savings pig next to calculator

Financial Education

Learn to manage your products with FirstBank electronic services

Get to know the tools and services that Digital Banking offer has for you.

Ilustración hombre imaginando dinero

Financial Education

What to do if I have an unexpected expense and I don't have money? Know your options

We tell you about some options in the case of having an unexpected expense. Consider them and choose the best for you.

illustration thief stealing password

Security

Are banking applications (apps) safe? All you need to know

Keep your information safe from security threats on banking apps.

 

Member FDIC. Only for residents of Puerto Rico. FirstBank offers you several IRAs and investment alternatives. You have the right to obtain detailed information to determine which is the most convenient. 1 Subject to the distribution provisions of the Internal Revenue Code. Consult your tax or financial advisor. 2Penalties for early withdrawal: 1-year Roth IRA: 3 months of interest; 3-year Roth IRA, 6 months of accrued interest or the total of accrued and/or paid interest, whichever is less on the principal amount of the interest rate the IRA has been at since its opening or last renewal, whichever occurred last. Minimum opening deposit and minimum balance to obtain APY on 1 and 3-year Roth IRAs: $500. Compound interest is credited quarterly to the account. Transfer fee to another institution: $50. Fees may reduce earnings on the account. Opening deposit, APY, and penalties may vary depending on the term of the Roth IRA. Refer to product disclosures provided at account opening. OCIF Lic. # 31.

You’re about to leave 1FirstBank.com and visit a third party website. This web page contains its own terms of use and privacy policies. FirstBank isn’t responsible for the products, content, security or information that may appear at this third party website you’re about to visit.


To continue, press the “Ok” button. If you do not wish to visit the website, close this window or press the “Cancel” button. Thank you!