Start saving for retirement with a Webster First IRA

Your future is just a step away. Webster First offers flexible, low-risk Individual Retirement Accounts designed to help you achieve your retirement goals with ease and confidence. To open you must live, work, worship, or attend school in Essex, Middlesex, Suffolk, or Worcester County. $100 minimum deposit. Must be opened in person at one of our local branches.

Find a Branch

Why start an IRA with Webster First?

icon depicting a hand with a dollar symbol crossed out
No annual fee

Keep more of your hard-earned money. Our IRAs have no annual fees, so your savings stay invested in your future.

icon depicting a calendar
Flexible contributions

Deposits can be made throughout the year, giving you the flexibility to save on a schedule that fits your lifestyle (restrictions apply).

icon depicting a laptop with a dollar sign
Convenient online access

Manage your IRA wherever you are. View balances, track transactions, and plan your savings with our secure online banking tools.

Discover ways to save

Traditional IRA

A tax-deferred saving option, perfect for those who want to lower their taxable income now and pay taxes on withdrawals later.

  • Contribute up to $7,000 annually (under age 50).
  • Age 50 or older? Add a catch-up contribution of $1,000 for a total of $8,000 annually.
  • Contributions may be tax-deductible.
  • Eligible individuals with earned income may contribute.

ROTH IRA

Save with after-tax dollars and enjoy tax-free withdrawals for certain distributions after a five–year holding period.

  • Contribute up to $7,000 annually (under age 50).
  • Age 50 or older? Add a $1,000 catch-up contribution for a total of $8,000 annually.
  • Perfect for those who anticipate higher taxes in retirement.
  • Eligible individuals with earned income may contribute.

Spousal IRA

Ideal for married couples filing jointly.

  • Each spouse can contribute up to $7,000 annually. Together, that totals $14,000 if under 50.
  • You can make catch-up contributions of an additional $1,000 per year at age 50 or older, bringing your total yearly contribution to $16,000.
  • One spouse must have eligible compensation.

Current IRA Rates

Type Dividend Rate APY2,8 Min Balance7
6 Month 4.16% 4.25% $100
12 Month 3.00% 3.05% $100
24 Month 1.50% 1.51% $100
36 Month 1.50% 1.51% $100
48 Month 1.50% 1.51% $100
60 Month 1.50% 1.51% $100
2:APY = Annual Percentage Yield. Compounds daily.
8:Penalty may be imposed for early withdrawal.
All rates subject to change without prior notice. Fees may reduce earnings.

Retirement Calculator

Start your retirement journey today

Your financial future is worth investing in. With a Webster First IRA, you’ll enjoy no annual fees, flexible options, and the peace of mind that comes with secure savings. To open a Webster First IRA, you must live, work, worship, or attend school in Essex, Middlesex, Suffolk, or Worcester County — or be a current Webster First member. A $100 minimum deposit is required to open your IRA.

Whether you’re just starting to save or refining your retirement plan, our team is here to help you every step of the way.


Award-winning service

America's Best Regional Banks and Credit Unions Newsweek 2025. Plant-A Insights Group.

2025: Newsweek Best Regional Banks and Credit Unions

2024 Winner: Best of Central Mass

2024: Newsweek Best Regional Banks and Credit Unions

2023 Winner: Best of Central Mass

Rated 5 Stars by Bauer