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 SEP is a retirement plan established by employers, including self-employed individuals (sole proprietorships or partnerships). The SEP is an IRA-based plan to which employers may make tax-deductible contributions on behalf of eligible employees, including the business owner. The employer is allowed a tax deduction for plan contributions, which are made to each eligible employee's SEP IRA on a discretionary basis.
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.
|Product Name||Interest Rate||Annual Percentage Yield (APY)||Minimum daily balance to open account and to earn APY|
|1 1/2 Years||0.75%||0.75%||$500.00|
|2 1/2 Years||1.00%||1.00%||$500.00|
* 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 4/25/2017.
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