Retirement savings made simple

Limited Time Offer!

4 Month Special at 4.08% APY1

7 Month Special at 4.25% APY1

Start saving for retirement today with a Webster First Individual Retirement Account. We offer Traditional IRAs and Roth IRAs designed to accommodate your retirement plans, whether you’re bound for sunny Florida, Napa Valley, or right here at home in New England.

To open an IRA, please visit one of our branches.

Find a Branch

IRA benefits

icon depicting a hand with a dollar symbol crossed out
No annual fee

Keep your money just that – yours. An IRA is a safe investment with low risk.

icon depicting a calendar
Flexibility for your lifestyle

Deposits can be made throughout the year (restrictions apply)

icon depicting a laptop with a dollar sign
Convenient online access

Balances and transaction history are accessible with online banking

IRAs offered at Webster First

Traditional IRA

A Traditional IRA at Webster First allows you to defer taxes on earnings until they are withdrawn. Some contributions are also tax deductible in the tax year in which you make them.

  • Members under the age of 50 may contribute up to $7,000 per year
  • Members who are 50 or older may contribute $7,000 per year, plus a catch-up contribution of $1,000
  • Eligible individuals with earned income may contribute

ROTH IRA

A ROTH IRA at Webster First allows only non-deductible (after-tax) contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period.

  • Individuals may contribute up to 100% of earned income or $7,000, whichever is less
  • Members who are 50 or older may contribute $7,000 per year, plus a catch-up contribution of $1,000
  • Eligible individuals with earned income may contribute

Spousal IRA

Spousal IRAs offer better services for members who are married. Couples are only eligible if they file a joint federal tax return.

  • Each spouse can contribute up to $7,000 per year for a total of $14,000 if under age 50
  • Each spouse age 50 or older may contribute up to $7,000 per year, plus a catch-up contribution of $1,000, for a total of $16,000
  • One spouse must have eligible compensation

Award-winning service

2024 Winner: Best of Central Mass

2024: Newsweek Best Regional Banks and Credit Unions

2023 Winner: Best of Central Mass

Webster First 5-Star Bauer Rating Badge

Rated 5 Stars by Bauer

Current IRA rates

Type Dividend Rate APY1 Min Balance
4 Month Special 4.00% 4.08% $1,000
7 Month Special 4.16% 4.25% $1,000
12 Month 3.00% 3.05% $100
24 Month 1.50% 1.51% $100
36 Month 1.50% 1.51% $100
48 Month 1.50% 1.51% $100
60 Month 1.50% 1.51% $100
1:APY = Annual Percentage Yield. Compounds daily. Penalty may be imposed for early withdrawal.

 

All rates subject to change without prior notice. Fees may reduce earnings.

Open an IRA today

To open you must live, work, worship, or attend school in Essex, Middlesex, Suffolk, or Worcester County or be a current Webster First member. $100 minimum deposit. Must be opened in person at one of our local branches.