We can assist with direct rollovers, trustee to trustee transfers and 60 day rollovers.
Rollover funds from an existing retirement plan (e.g. 401K or IRA) to your Melrose Bank IRA.
Transfer funds from an existing IRA at another financial institution to your Melrose Bank IRA.
*There can be a substantial penalty for early withdrawal. Consult with your tax advisor about your specific situation before moving funds, as there may be tax implications if certain rollover and or transfer requirements are not met. Other restrictions may apply. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).
Effective Date: Saturday, April 4, 2020
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Balance to earn APY
1 Annual Percentage Yield (APY) and rate are effective as of the date posted and are subject to change without notice. Substantial penalty for early withdrawal. Fees may reduce the earnings on the account. Minimum balance of $500.00 required to open the account and obtain APY. Interest compounded and credited monthly for terms of 1 year or greater. Interest does not compound and will be credited monthly for terms of 11 months or less. IRA Accounts with terms of 6 months or longer are eligble for these rates. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).
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