Individual Retirement Accounts | East Cambridge Savings Bank |

Individual Retirement Accounts

At East Cambridge Savings Bank, we understand the importance of saving for retirement. Count on us to answer your questions and simplify the process, whether you want to:

  • Open a Traditional or Roth Individual Retirement Account (IRA)
  • Contribute to an existing IRA
  • Rollover/transfer an IRA from another financial institution
  • Rollover a 401K from a previous employer

We offer attractive rates on short- and long-term IRA CDs. A safe, smart option for retirement savings, our IRA CDs offer:

Traditional IRAs


The Traditional IRA provides tax-deferred earnings and yearly tax deductions for qualified individuals. IRA contributions may be fully, or partially tax deductible depending on your income tax filing status, and your modified adjusted income (MAGI). Any deductible contributions and earnings you withdraw or that are distributed from your Traditional IRA are taxable.


Roth IRAs


Contributions to a Roth IRA are not tax-deductible. However, if you meet certain requirements all withdrawals including earnings are tax-free when withdrawn. The Roth IRA also eliminates the need to take required minimum distributions when you attain the age of 70 1/2.


  IRA Contributions allowed per participant:

  Tax Year


  Under Age 50

  Up to $5,500

  Age 50 or Greater

  Up to $6,500


Stop by one of our locations to open an IRA account or call our Retirement Plans Specialist for more information. Additional information on Traditional and Roth IRAs can be found on the IRS website.


Please note: East Cambridge Savings Bank does not provide tax advice. Please consult your tax advisor.


1.866.354.ECSB (3272)
Routing number: 211370419
The Banking Connectionsm 24-hour banking service: 1.800.869.3423
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