Online Banking
Today's savings is tomorrow's security
A savings account is an easy way to work toward financial security for short-term needs and wants as well the start of your nest egg for long-term goals and future investments.
Features:
- Minimum daily balance to earn interest: $.012
- Monthly service charge waived with average daily balance of $2503
- Minimum to open account: $10
- No ATM fees at over 55,000 Allpoint Network ATMs
- Combined monthly statement4
Please note: Online application may not be supported by Internet Explorer.
Features:
- $500 minimum daily balance required to earn interest2
- Monthly service charge waived with average daily balance of $2,5005
- Minimum to open account: $10
- No ATM fees at over 55,000 Allpoint Network ATMs
- Combined monthly statement4
Please note: Online application may not be supported by Internet Explorer.
Features:
- Minimum daily balance to earn interest: $.012
- No monthly service charge
- Balance of account is automatically transferred to another NSB account on October 15
- Minimum balance to open account: $10
- Combined monthly statement4
Features:
- Minimum daily balance to earn interest: $.012
- No monthly service charge
- Minimum balance to open account: $10
- ATM card access with joint adult account owner
- Free online banking with joint, adult account owner
- Combined monthly statement4
View Rates See our complete list of service fees »
1 Not available with Club Savings Accounts
2 Rates subject to change after accounts are opened and fees may reduce earnings. View current rates.
3 If balance drops below minimum, charges are $5.00/month
4 Sign up required
5 If balance drops below minimum, charges are $8.00/month
6 Account automatically converts to a Regular Savings account on holder's 19th birthday
* Opening an account is subject to approval by NSB
CDs
A Certificate of Deposit (CD) is a smart way to diversify your savings while ensuring your money will grow at a steady rate. Not only are you guaranteed a specific rate and term, there are no hidden charges or fees, and all CDs have the protection of FDIC insurance.
With as little as $1,000, you can open a CD with terms ranging from 6 months to 5 years. From time to time, we also offer No Penalty CDs with options for penalty-free withdrawals.*
All of our CDs feature:
- Guaranteed rates
- Online account access
- Automatic renewal
If you live, work or own a home in Vermont, stop in to any branch to open an account today.
This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds or change the term without penalty.
*For No Penalty CDs, a penalty may be imposed for early withdrawal. The interest rate and annual percent yield will be in effect for the account until the maturity date. This is a limited-time offer.
IRAs
It’s never too early to plan for retirement
An Individual Retirement Account (IRA) is a valuable tool in planning for a secure retirement. Northfield Savings Bank offers Traditional IRAs and Roth IRAs. While both provide tax advantages, they differ in other benefits and restrictions. Your tax advisor or the IRS website can help you decide which is best for you.
Traditional IRA
Features:
Tax Advantages
Unlike most investments, the interest earned on a Traditional IRA is not taxable in the year it is received. In fact, your IRA earnings aren't subject to taxation until they are removed from the account.
Power of Compounding
This tax deferment allows your savings to grow faster and is perhaps the greatest long-term benefit of the Traditional IRA. Tax deferral on gains leaves more money in the account to compound, allowing an investment to grow larger than it would if taxes were paid along the way.
Up-front Tax Breaks
Depending on eligibility, some investors are permitted to deduct IRA contributions from their federal income tax.
Special Purpose Withdrawals
Withdrawals may be made from a Traditional IRA without tax penalty by individuals under the age of 59 ½ for certain qualified purposes.
Roth IRA
Features:
Tax Advantages
Although contributions are not tax deductible, the earnings accumulate tax free. Deposits are taxed up front, but the future payoff could be greater.
Extra Withdrawal Options
After five years with a Roth IRA, qualified homebuyers can withdraw up to $10,000, tax free, per lifetime before age 59 ½ for a first-time home purchase.
Liberal Eligibility Rules
You cannot be barred from opening a Roth IRA just because you are covered by a retirement plan at work or contribute to a self-employment plan such as a Keogh account. What's more, if a child earned $3,000, a parent could put $3,000 into a Roth IRA for the child.
Wholly Tax-free Withdrawals
Roth IRAs can also be an estate-planning tool—with no mandatory withdrawal age, funds can compound for an heir.
Health Savings Accounts (HSA)
A Health Savings Account helps your financial health, too
If you have a high-deductible health insurance plan, you can open a Health Savings Account (HSA). This allows you to put money aside, tax free*, to help cover the cost of health care expenses. Northfield Savings Bank is one of the few Vermont banks to offer HSAs without any associated fees.
Stop by your local branch to open your HSA**. For more information on HSAs, visit the Personal Banking section in our FAQs. Please note, Savings Overdraft Protection is not available on HSA accounts. View current rates.
*Provided they are used for qualified medical expenses. Consult your tax advisor to determine if you qualify for an HSA. Additional information may be found at the U.S. Treasury website.
**Opening an account is subject to approval by NSB.