Deposits

Helping You Plan Ahead

IRAs

We offer several options to help you plan for your retirement with ease. We're also proud to say that while some banks have annual fees
We want to be the bank you turn to when it comes to saving for your future.
and others have monthly and/or penalty fees, we have NO fees at all. We want to be the bank you turn to when it comes to saving for your future. If you're building for your future or just getting ready to begin saving, searching for a place to transfer an existing IRA account, or looking for the best rate on a rollover from an employer sponsored plan such as a 401K, please review our IRA options below. We encourage you to stop in or call us anytime to discuss your personal needs in detail. Keep in mind that Retirement Accounts at Piscataqua Savings are FDIC insured for $250,000 separately from your other deposit accounts.

Traditional IRA

Setting up a Traditional IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn. Contributions may be tax deductible for the tax year for which they are made. You can establish a Traditional IRA if you are younger than 70 ½ for the entire tax year and you (or your spouse) have earned income.

How pleasant to deal with a small bank who works with you both on a personal and professional level. - Rohyne Lundgren

If you have an existing IRA and would like to transfer your account from another institution, we offer great rates. Likewise, if you need to rollover your retirement account from your employer sponsored retirement plan, just come see us. Either way, we'll take care of everything for you; we're here to help make it as simple and easy as possible.

There are no fees of any kind to establish a Traditional IRA with us and you can choose from any of our Certificates of Deposit for the investment of your funds.


Roth IRA

I like the idea of a local bank. - Claudia Hackett

Establishing a Roth IRA allows non-tax deductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. You may be eligible to establish a Roth IRA depending on your level of earned income; please see us or call for details.

If you'd like to transfer an existing Roth IRA from another institution, we offer great rates and will be happy to assist you in the process. Or, you can convert your Traditional IRA into a Roth account for greater benefits. Again, we'll make the process easy for you. All you have to do is come in and see us!

There are no fees of any kind to establish a Roth IRA with us and you can choose from any of our Certificates of Deposit for the investment of your funds.


Coverdell Education Savings Account

The Coverdell Education Savings Account (CESA), formerly known as Education IRA's, is a nondeductible account that allows you to save money towards a child's education on a tax favored basis. Distributions used to pay for qualified education expenses are federal income tax free.

I liked the personal attention. Keep up the good work. - MJ K.

There are no compensation requirements or age restrictions for contributors. Total aggregate contributions allowed into one or more CESA's on behalf of any child is $2,000.00 per year. Please call us for more information about opening or transferring funds into a Coverdell Education Savings Account.

There are no fees of any kind to establish a CESA with us and you can choose from any of our Certificates of Deposit for the investment of your funds.


Health Savings Accounts

Health Savings Accounts (HSAs) offer a convenient, tax-deductible means to pay for qualified medical expenses with nontaxable distributions! If your health plan carries a high deductible, you may be eligible for an HSA.

Piscataqua Savings Bank's Health Savings Account offers the convenience of check-writing or debit card use along with easy-to-track statements featuring images of your cancelled checks. Our HSA provides a very competitive interest rate with the convenience of no fixed maturity date and no monthly service charges.

Other features include:

  • Low opening deposit of $100
  • Unlimited check writing with special HSA checks
  • Free Debit Card
  • Free Online Banking & Bill Pay access
  • Monthly statements with check images
  • No monthly fee

To view our rates, please click here.

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