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It’s never too early or too late to prepare for your future.

Key Features

  • Competitive Interest
  • Tax advantages (always consult a tax advisor)
  • Tax-advantaged retirement savings1
  • Competitive interest 
  • Traditional and Roth IRA options
  • Statement Savings IRA account also available
  • $10 annual fee waived for Preferred Checking account holders
  • $6,000 contribution limit per year for those under 50 years of age; those 50 years or older may be eligible for a 'catch-up' $1,000 which would put the contribution limit at $7,000
  • Funds can be used to purchase CDs or fund savings accounts within an IRA; Individual Retirement Accounts (IRA) CD's available for terms 12 – 60 months
  • $500 minimum deposit to open

Clinton Savings Bank understands the importance of saving for retirement. We offer both Traditional and Roth IRAs along with an education savings account. For more information on which account is right for you, contact us today!

1Consult a tax adviser.

When do you want to enjoy your tax advantage? A traditional IRA can provide tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement. 

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals at age 70½

Roth IRA

  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty2
  • Income limits to be eligible to open Roth IRA3
  • No mandatory distribution ages
  • No age limit on making contributions as long as you have earned income

1Subject to some minimal conditions. Consult a tax advisor.

2Certain exceptions apply, such as healthcare, purchasing first home, etc.

3Consult a tax advisor.