Personal CDs and IRAs

Achieve your long-term savings goals with a dependable return on your investment. Let us help you safely grow your money through personal certificates of deposit (CDs) and individual retirement accounts (IRAs).

Benefits & Features

Certificate of Deposit (CD) Interest Rates

Deposit your funds and watch them grow faster than a standard savings account! CD interest rates depend on how long you leave them to mature.

We also offer IRA CDs to help you grow your nest egg at a safe, dependable rate of return.

We've got you covered with fully insured deposits

All deposits at Needham Bank are insured in full through the combined coverage provided by the Federal Deposit Insurance Fund (FDIC) and the Depositors Insurance Fund (DIF):

  • Deposits are covered by the FDIC up to $250,000 per depositor;

  • Amounts over $250,000 are covered by the Depositors Insurance Fund.

DIF is an added benefit we provide to all customers at no cost on all of their deposit accounts. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.


Frequently Asked Questions

A certificate of deposit, or CD for short, is a type of long-term savings vehicle that allows you to deposit a certain amount of money for a specific period of time. While you won’t be able to access your funds for that period of time, you’ll receive higher interest payments in exchange.

A certificate of deposit is a smart savings option that allows you to earn higher interest on your funds by leaving it on deposit for a specified period of time (or term). You choose the length of the term. At Needham Bank, CD terms range from three months to five years. Then, you deposit a minimum amount of money and leave it to grow for the duration of that term. When the term is up — in other words, when your CD reaches its maturity date — you’ll get your money back with interest!

Your Needham Bank CDs are always insured in full through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).

If you’re looking for a low-risk nest egg, CDs can absolutely be worth it! CDs get higher interest rates than regular savings, which means more funds for your long-term savings goals.

CDs are more “one-time deposit,” less “piggy bank.” If you don’t want to tie up too much of your savings into a single CD, you can try a CD laddering strategy, where you spread out your investment over multiple CDs with different maturity dates. But if you’re looking for a savings account you can regularly contribute to, we have options!

IRA stands for “individual retirement account.” While many people think of IRA savings accounts like Traditional IRAs and Roth IRAs, an IRA CD works more like a regular CD. They usually come with a required minimum deposit and a fixed rate of return on your money until it fully matures.


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Our CDs and IRAs are reliable options to help you achieve your long-term savings goals. Make your money grow with a dependable return on your investment.

Commitment to Community

We’re not just your bank. We’re your neighbors, and we’re committed to serving you with the same steadfast community values we were founded on. Let’s conquer your finances together.

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