Retirement Certificates of Deposit are a safe and secure way to save. You'll earn a fixed interest rate over the course of the term. All CDs have a minimum balance requirement to open. Westfield Bank also offers Add-On IRA CDs as well as Retirement Accumulator CDs.
Add-on Retirement CD
Our Add-On Retirement CD allows additional contributions any time during the specific term. Additional contributions of at least $10.00 may be made through automatic transfers from checking, savings, or payroll deduction.
- Minimum opening deposit of $50
- Minimum additional deposit of $10
- Pre-authorized Transfers are accepted from WB Checking or Savings accounts or direct payroll deposit
- Early withdrawal of funds may result in bank penalties
WB Retirement Accumulator CD
Our WB Retirement Accumulator Certificate of Deposit allows individuals to consolidate retirement funds from a work place employer plan, or IRA funds from other financial institutions. Additional deposits are allowed during the specified term to accommodate the consolidation of funds.
- Minimum opening deposit of $500
- Minimum amount to keep CD open is $500
- No minimum for additional deposits
- Early withdrawal of funds may result in bank penalties
Please Note: Current IRS rules and regulations pertaining to IRA plans prevail. Consult your tax advisor to consider which plan is best for you. For more details about our retirement products, please contact our Retirement Services Department at 413.572.4282 or ask any of our Customer Service Representatives.
More Information
To learn more about an existing retirement plan, opening an IRA, or moving your retirement assets, please contact the Retirement Services Department at 413.572.4282 or stop by any of our convenient offices.