CDs and IRAs

The Savings Bank offers secure longer-term savings options to help you grow excess funds or build secure savings for your future.

Your Deposits Are Insured in Full
All deposits are insured by the FDIC and DIF.

Certificates of Deposit (CDs)

The Savings Bank offers CDs from 4 months to 60 months. Choose your term and lock into a competitive interest rate.

In addition, when you open any new CD, 4 months or longer, you are eligible to open a Companion Savings of equal or lesser value of the CD for a high yield, no-commitment option.

Individual Retirement Accounts (IRAs)

IRAs offer an easy and convenient way to save for your retirement; one of the most important things you can do for yourself in order to ensure your future financial well-being. You can choose your term from 6 months to 60 months and lock into a competitive interest rate with a guaranteed rate of return.

Please note: We are unable to open IRA accounts online at this time.

Traditional IRA

Contributions may be tax-deductible
Seek guidance from your tax preparer or accountant
Earnings are tax-deferred, not tax-free
No age limit to make contributions as long as you have reportable earned income

Roth IRA

Tax-free withdrawals of earnings are permitted — Must be a qualified distribution
No age limit to make contributions as long as you have reportable earned income
No required distributions are necessary

SEP IRA

Simplified Employee Pension (SEP) plans can provide a significant source of income at retirement by allowing self-employed individuals or small business owners to set aside money in retirement accounts for themselves and their employees.

IRA Specialists

We have IRA Specialists on staff at TSB with extensive product knowledge to assist with any of your retirement needs. All questions pertaining to establishing a new IRA, transferring from another institution, or rollovers, will be answered for you. (Please note: Email is not secure).

Kim Cournoyer
Assistant Vice President
Retirement Officer
781-224-5467
kcournoyer@www.tsbdirect.bank

Maryellen Murphy
Retirement Services Clerk
781-486-5531
mmurphy@www.tsbdirect.bank

Deposit Insurance

Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF). Click for information about Deposit Insurance.

From our customers
“Love the personal connections with the bank personnel.”

From our customers
“The people I encounter at Lakeside and Main Street are always helpful and friendly. I enjoy that they actually care about me even though I am not one of your bigger clients.”

From our customers
“Just great!”

From our customers
“I’ve used TSB for approximately 40 years. They have always been helpful and kind. Never had an issue. Love banking with TSB and all of the wonderful employees.”

From our customers
“I have been banking with TSB for many years and I am very satisfied with them. Why wouldn’t you want to come and bank there?”

From our customers
“I stay with TSB because I know if I have an issue, I can reach out to an actual person and get help. It is what separates TSB from the big banks.”

From our customers
Friendly, helpful, and pleasant tellers in the Greenwood, Wakefield branch!

From our customers
“I feel you excel in all areas but I am very appreciative of the kindness with which I have been treated all these years, by everyone at the TSB, whether in person or on the phone.”

From our customers
“I have been banking here for a number of years. I love this bank! Customer service is awesome. Anytime I had a problem it was resolved professionally.”

From our customers
“The staff in the Methuen office could not be kinder.”

From our customers
“Love everything!”

From our customers
“Love the employees at the North Reading Office. They are so friendly and helpful. The teller and the customer service representative are the BEST!!”

From our customers
“I like the real hometown feel you get with The Savings Bank. Staff at ALL branches are wonderful, making the personal interaction very pleasant. I have been banking with you since 1978 and have never had even one issue.”

From our customers
“Your staff is the best.”

Talk to The Savings Bank

To find out how The Savings Bank can help you achieve all your financial goals, visit one of our offices, use our contact form, or call us at 800-246-2009.

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