Together we can grow your retirement savings.
Ready to start saving for retirement? It’s never too late to begin. Chelsea Groton offers competitive interest rates and flexible terms on savings products such as certificates of deposit (CDs) and individual retirement accounts (IRAs).
Let's work together to find the savings plan that's right for you.
Certificates of Deposit – Competitive CD rates and a variety of maturities for short and longer term goals
Individual Retirement Accounts – Choose from Traditional, Roth and Educational IRAs, or Simplified Employee Pension (SEPs):
Traditional IRA – A tax-qualified savings account available for individuals earning income
- Make contributions up to age 70 ½
- Defer taxes on deposits until the year the funds are withdrawn
- Certain contributions are also tax deductible in the tax year for which they are made
Roth IRA – A good choice for those who expect to be in a higher tax bracket upon retirement*
- Available to anyone earning income
- Allows the account holder to make deposits up to the individual’s annual contribution limit
- Deposits are not tax deductible, and withdrawals will not be taxed during retirement under certain distribution conditions
Education IRA – Established for individuals under the age of 18, allowing you to save for a child’s educational expenses.
Simplified Employee Pension IRA – For self-employed business owners. Benefits include possible contributions to your personal retirement accounts as well as IRAs for eligible employees.
Rollovers/Direct Transfers – Need our help transferring all or part of your assets from another retirement plan such as a 401(k)? We can do that.
Ready to get started? Call us at 860-448-4200 or visit the Chelsea Groton Bank branch near you.
*Chelsea Groton does not provide legal or tax advice. Consult your legal and/or tax advisor.