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Personal Savings Accounts

At Cape Ann Savings Bank, we offer a variety of savings products to fit your needs. Contact one of our customer service representatives at 978-283-0246, toll free 888-283-2272 or email us for more information. In the neighborhood? Stop by one of our convenient office locations.

We are here to serve you!

Savings Estimator

Statement Savings

A deposit of only $10.00 is required to open a Statement Savings Account. Maintain a minimum daily balance of $10.00 to earn interest on the account. You may also use this account for a sweep account to cover your checking account balance. There is a maximum of six transfers allowed per month.

  • No monthly fees
  • No withdrawal or deposit fees
  • Direct deposit available
  • eStatements available through Online Banking

Passbook Savings

A deposit of only $10.00 is required to open a Passbook Savings Account. You need only to maintain a minimum daily balance of $10.00 to earn interest on the account.

  • No monthly fees
  • No withdrawal or deposit fees
  • Direct deposit available

Christmas Club Account

Many of our customers have discovered that a Christmas Club Account at Cape Ann Savings Bank eases the stress of holiday shopping. With your passbook Christmas Club Account, you choose the amount you would like to deposit each week. You will receive your Christmas Club check in mid-October, giving you plenty of time to complete your holiday shopping.

  • No minimum balance requirements apply to this account.
  • No monthly fees

Certificates of Deposit

Want a safe place to invest your money? Our CDs offer competitive rates with terms from six months to five years. Invest $50,000.00 or more in a one to five year term, and earn an extra ¼% on the posted rate!

Click on our deposit account rates and terms button at the bottom of the page to determine rates and minimum daily balances, which vary according to the length of the term.

Individual Retirement Accounts 

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. Which IRA is right for you?

If you have any questions about IRAs, please Contact one of our IRA specialists today.

Deposit Account Rates and Terms

Traditional IRA

Save for retirement with possible tax advantages. Contributions you make to a traditional IRA may be fully or partially deductible, depending on your circumstances. Generally, amounts in your traditional IRA (including earnings and gains) are not taxed until distributed.


A ROTH individual Retirement Account is an after-tax investment vehicle for retirement focused investing. Withdrawals from Roth IRAs are not taxed. Funds held in a Roth IRA can be invested in numerous different types of securities and funds.


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.


A Keogh is an employer sponsored retirement plan that is designed for unincorporated businesses and self-employed individuals. They can be established as a defined contribution or a defined benefits plan. A defined contribution is when the amount of funds placed into the plan every year is specifically stated. In general, these kinds of plans are popular among sole proprietors and small businesses that have high revenues.



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