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Keogh IRA

Gloucester Massachusettes Lady of Good Voyage Church

It is never too early to plan for retirement! Tax-deferred retirement accounts offer some of the best opportunities for building financial security for you and your family.

A Keogh is an employer sponsored retirement plan that is designed for unincorporated businesses and self-employed individuals. They can be established as a defined contribution or a defined benefits plan. A defined contribution is when the amount of funds placed into the plan every year is specifically stated. In general, these kinds of plans are popular among sole proprietors and small businesses that have high revenues.

Need professional help with your retirement planning? If you would like to talk to a retirement specialist at Cape Ann Savings Bank then please Contact Us. We would be happy to answer your questions.

Note: Any fee(s) assessed could reduce earnings on such an account.

Retirement Account Rates
Product NameInterest RateAnnual Percentage Yield (APY)Minimum daily balance to open account and to earn APY
6 Months 0.50% 0.50% $500.00
1 Year 0.60% 0.60% $500.00
1 1/2 Years 0.75% 0.75% $500.00
2 Years 0.75% 0.75% $500.00
2 1/2 Years 1.00% 1.00% $500.00
3 Years 1.25% 1.26% $500.00
4 Years 1.75% 1.76% $500.00
5 Years 1.75% 1.76% $500.00
Savings Account 0.25% 0.25% $10.00
* A penalty may be assessed for early withdrawals.
** A 1/4% more interest for CDs of $50,000 or more with terms from 1 to 5 years.

Rates are applicable as of 3/26/2017.