Retirement Services

There is no better time to think about setting up a retirement fund than right now. It's never too early to start preparing for your retirement. At East Boston Savings Bank we offer many Retirement options designed to help you plan for your future. An Individual Retirement Account (IRA) is an easy and inexpensive investment option. You can grow your savings quickly, with minimal risk.

There’s an IRA for everyone. Depending upon your personal financial situation, you may prefer the tax deductible* contributions of a Traditional IRA or the withdrawal flexibility of the Roth IRA. Our specialists can help you invest according to your needs.

Traditional IRA
A Traditional IRA offers unique benefits to help you reach your retirement goals. With a Traditional IRA, you can benefit from possible tax-deductible contributions and earnings that grow tax deferred.

Roth IRA
Roth IRAs offer you an opportunity to create tax-free income during retirement and can be a good way to diversify your future retirement income. The sooner you start, the longer your money can grow.

Coverdell Education Savings Account (ESA)
In addition to retirement IRA's we also offer ESAs to help you save for the education expenses for your child, grandchild or other important child in your life. This type of savings plan lets you participate in tax-deferred earnings growth, with complete freedom to manage your investment dollars.

Simplified Employee Pension Plan (SEP)
If you're an employer or are self-employed and are looking to establish a business retirement plan that uses IRAs as the investment vehicle for both you and your employees, a SEP may be the answer. The key advantage of a SEP-IRA is tax deductibility of employer contribution.

IRA Money Market Savings Account
With an East Boston Savings Bank IRA Money Market Savings Account, you can start with as little as $50. Additionally, there are no transaction limitations to this account.

Direct & Indirect Rollovers & Transfers
Let EBSB help you with your retirement rollovers, transfers or direct rollovers from other qualified pension plans.

*Please consult your tax advisor for tax benefits.

Retirement Certificates of Deposit

Rates as of May 18, 2017

Certificate Term Minimum to open and earn APY Interest Rate* Annual Percentage Yield
6 Month Fixed $500 0.30% 0.30%
9 Month Fixed $500 0.40% 0.40%
12 Month Fixed $500 0.45% 0.45%
13 Month Fixed Special*** $500 1.25% 1.26%
15 Month Fixed $500 0.65% 0.65%
18 Month Fixed $500 0.50% 0.50%
24 Month Fixed $500 0.65% 0.65%
25 Month Bump-Up** $500 1.40% 1.41%
36 Month Fixed $500 1.00% 1.00%
48 Month Fixed $500 2.11% 2.13%
60 Month Fixed $500 1.59% 1.60%

* Rates are subject to change without notice; fees and withdrawals could reduce earnings on accounts. Fees are subject to change. A penalty may be imposed for early withdrawal from a certificate of deposit (CD) account.
**25 Month Bump Up CD: customer initiated one-time bump-up to the then current 24 Month CD for the rest of the term. Upon maturity, CD will automatically roll into the then 24 Month CD interest rate and term.
***13 Month CD will automatically roll into the then 12 Month CD rate and term upon maturity.

Retirement Money Market Savings Account

Rates as of May 18, 2017
Minimum to Open $50

Balances From To Interest Rate* Annual Percentage Yield
$0 $24.99 0.00% 0.00%
$25 over 0.25% 0.25%

* Rates are subject to change without notice; fees and withdrawals could reduce earnings on accounts. Fees are subject to change. This is a variable interest rate accounts and the interest rate may change at any time. The minimum balance tiers to earn the APY stated above reflect the full tier balance ranges for each appropriate tier.

Learn More

Call 1-800-657-3272 or visit your nearest branch to review the account best suited for your needs.