Individual Retirement Accounts

You're invested in your future, we are too. IRAs let you invest and grow funds for the retirement you deserve, and as a bonus many offer tax advantages. At South Shore Bank, we offer both traditional IRA and Roth IRA accounts, and are here to help you choose which account works best for the future you want.


Effective as of 12/1/2021

Account TypeMinimum Daily Balance to earn APY1APY
3 Month CD or IRA$1,000.000.050%
6 Month CD or IRA$1,000.000.050%
9 Month CD or IRA$1,000.000.050%
12 Month CD or IRA$1,000.000.100%
14 Month Rewards CD2$1,000.000.600%
15 Month CD or IRA$1,000.000.100%
16 Month CD or IRA3$1,000.000.100%
18 Month CD or IRA$1,000.000.100%
24 Month CD or IRA$1,000.000.150%
30 Month CD or IRA3$1,000.000.150%
36 Month CD or IRA$1,000.000.150%
48 Month CD or IRA$1,000.000.150%
60 Month CD or IRA$1,000.000.150%
1Annual Percentage Yield (APY) and rate subject to change. A penalty will be imposed for early withdrawal from a certificate account.

2Personal customers only. A penalty will be charged for early withdrawal. Must already have or open a Rewards Checking account to open this certificate of deposit. Must meet Rewards Checking Account requirements for the prior month to earn the advertised APY. (The 14-month Rewards CD will revert to a rate of 0.500% APY if Rewards Checking Account requirements are not met. At maturity, the 14-month Rewards CD will roll into a standard 15-month CD. Account requirements will be waived for the first statement cycle.) Offer may be withdrawn at any time.

3Maximum deposit is $500,000. Personal customers only. A penalty will be charged for early withdrawal. At maturity, the 16-month CD will roll into a standard 15-month CD and the 30-month CD will roll into a standard 24-month CD.