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Traditional IRA

With a Traditional IRA as your retirement investment vehicle, you can gain tax advantages while saving for retirement.

  • Earnings and deductible contributions grow tax-deferred until withdrawal*
  • Withdrawals can begin at age 59 1/2 and must begin at 70 1/2*
  • Annual contributions may be tax-deductible depending on the taxpayer's income, tax filing status and other factors*

*There can be a substantial penalty for early withdrawal. Consult with your tax advisor about your specific situation. Other restriction's may apply. 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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