Northern Bank and Trust Company Neighbors you can bank on.

Personal > Savings & Retirement

At Northern Bank & Trust Company, we offer a variety of products designed to help you save and watch your money grow.

Passbook Savings Account

Perfect for the beginner saver, this account can be opened with just $10 and offers a competitive interest rate. Maintain a minimum daily balance of $300 and we’ll waive the $5 monthly service charge.

Statement Savings Account

A great companion to our checking accounts, this account offers a competitive interest rate and comes with an ATM card. Open one with $25 and maintain a minimum daily balance of $500 to waive the $10 monthly service charge. 

Northern Light Savings Account

This account offers competitive tiered rates. Maintain a combined daily balance of $5,000 in like-titled personal deposit accounts to waive the $15.00 monthly  service charge. Open this account with $25. 

Also, we do not charge you for non-Northern Bank & Trust Company ATM fees; however, when a transaction is initiated at a non-Northern Bank & Trust Company ATM, a surcharge may be assessed by the owner or operator of the ATM, or by an automated transfer network.

Money Market Investment Account*

Looking to make more interest on your deposits? Our money market accounts offer higher rates, ATM access, and up to six (6) transfers per month.

The account offers interest at competitive tiered rates and the ability to write checks. Open with $25 and maintain a minimum daily balance of $1,000 to waive the $10.00 monthly service charge.

Certificates of Deposit

Our Certificates of Deposit (CDs) offer a guaranteed yield. We offer a broad range of maturities to meet your savings goals. With CDs, you lock in a guaranteed interest rate on the day you open your account. 

 

Individual Retirement Accounts**

To help you plan for your financial future, we offer a variety of retirement accounts. With competitive rates and terms, you can start dreaming about your retirement today. Choose the IRAs that are right for you:

  • Traditional IRAs are available to anyone under the age of 70 who is working and has earned income. Up to $5,500 of your earned income can be contributed each year for an individual and up to $11,000 for married persons filing joint tax returns. After age 50 you may contribute up to $6,500 of your earned income. Contributions may be tax-deductible, consult your tax advisor.
  • Roth IRAs are available to anyone with earned income regardless of age. You may even establish an account for a non-working spouse, regardless of his or her age. Contributions are not tax-deductible. However, if you meet the requirements, qualified distributions may be tax-free. Consult your tax advisor for details.
  • Educational IRAs can be established by anyone for any child under the age of 18. The plan allows total after-tax contributions of $500 per year for each child until they reach the age of 18. Contributions are not tax deductible. Contributions and the subsequent earnings are tax-free when withdrawn to pay for qualified education expenses. Consult your tax advisor for details.

**There is an annual service charge of $25.00 for a retirement plan.

Deposit Insurance

Northern Bank & Trust Company depositors are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000. Click here for details.

Neighbors you can bank on

For more information about our products and services, please visit any of our offices, use our information request form, or call us at 800.273.6908.

 

*Up to 6 transfers per month to another account with us or to a third party by means of a preauthorized or automatic transfer including transfers pursuant to an overdraft plan, telephone or internet banking agreement, order or instruction, or by draft, check, ATM card or similar order made by you and payable to third parties ($20.00 per excessive transaction fee).

 

Equal Housing Lender Member FDIC
275 Mishawum Road • Woburn, MA 01801 • 800.273.6908
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