What is Simply Invest?

When it comes to investing, a lot of people think you need a ton of money, years of experience, or time to constantly watch the market. That’s not true. With Simply Invest by Equity Bank, you can start small, invest at your own pace, and build long-term wealth with guidance that’s simple and approachable.

What Is Simply Invest?

Simply Invest is Equity Bank’s digital investment platform designed to make investing accessible for everyone, especially if you’re just getting started. It lets you open an investment account online, set up automatic deposits if you want, and choose from different account types depending on your goals. 

Think of it as your first step into investing, without the overwhelming jargon or pressure.

Your Investment Options

When you open a Simply Invest account, you’ll be able to choose the type of account that best fits your needs:

• Individual or Joint Brokerage Accounts
  Perfect if you want flexibility. You can invest, withdraw, and manage funds as needed. Earnings may be taxable.

• Traditional IRA
  Designed for retirement savings. Your contributions may be tax-deductible, and you’ll pay taxes later when you withdraw funds in retirement. Withdrawals before age 59½ typically have penalties.

• Roth IRA
  Another retirement option. You contribute after-tax dollars, but qualified withdrawals in retirement are tax-free. Like a Traditional IRA, early withdrawals may face penalties.

• Rollover IRA
  Used to roll over an old 401(k) or other retirement plan into an account you control. Keeps your retirement money working for you.

Getting Started

Opening a Simply Invest account is straightforward:

1. Apply Online — the process usually takes less than 15 minutes.

2. Select Your Account Type — brokerage, IRA, or rollover.

3. Fund Your Account — you can start with as little as a few hundred dollars (exact minimum depends on the account).

4. Choose Investments — based on your comfort level, time horizon, and goals.

Adding Funds: How Often Can You Deposit?

• You can deposit as often as you’d like—monthly, bi-weekly, or even one-time contributions.

• Many people choose to set up automatic deposits so their investments grow without having to think about it.

Withdrawing Funds and Penalties

Your ability to withdraw—and whether there are penalties—depends on the type of account you choose:

• Brokerage Accounts:
  No penalties for withdrawing, but keep in mind your investments may have gained or lost value. Any profits may be taxable.

• Traditional & Roth IRAs:
  Designed for retirement. If you withdraw before age 59½, the IRS typically charges a 10% penalty plus taxes (exceptions apply for certain situations like first-time home purchase or qualified education expenses).

• Rollover IRAs:
  Same rules as Traditional IRAs—withdrawals before retirement age may face taxes and penalties.

Why Simply Invest?

• Easy online access through Equity Bank.

• Options that fit both short-term flexibility and long-term retirement goals.

• Ability to start small and build over time.

• Backed by the trust and support of your local bank.

Bottom Line

Simply Invest makes investing accessible. You don’t need thousands of dollars or years of knowledge to start, you just need a goal and the willingness to begin. The earlier you start, the more time your money has to grow.