CD and IRA Disclosures

Account Type

Minimum Balance
to Open

Minimum Balance
to Earn Interest
To Avoid Monthly Maintenance  Fee & Transaction Fee
Monthly
Maintenance
Fee
Certificates of Deposit (1)
$1,000
$0.01 and over
CHECK RATE
None
None
IRA Certificates of Deposit (1)
$250.00
None
CHECK RATE
None
None
IRA Money Market Acct (1), (2)
$10.00
None
CHECK RATE
None
None
  1. If the withdrawal is made within the first six days after deposit, the penalty we impose will equal seven days interest. If your account has a maturity of one year or less, the penalty we may impose will equal three months of interest on the amount withdrawn regardless of the length of time the funds have been on deposit. If your account has a maturity of more than one year and less than two years, the penalty we may impose will equal six months interest on the amount withdrawn regardless of the length of time funds have been on deposit. If your account has a maturity of two years or greater, but less than four years, the penalty we impose will equal nine months interest on the amount withdrawn regardless of the length of time funds have been on deposit. If your account has a maturity of four years or greater, but less than five years, the penalty we may impose will equal twelve months interest on the amount withdrawn regardless of the length of time funds have been on deposit. If your account has a maturity of five years or greater, the penalty we may impose will equal eighteen months of interest on the amount withdrawn regardless of the length of time funds have been on deposit. If the amount of the penalty exceeds the amount of the accrued interest, we may deduct some of the entire penalty from the principal balance. (Penalty does not apply to NSB No Catch CDs-first withdrawal only). In certain circumstances such as the death or incompetence of an owner of the Account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan. Fees may reduce earnings. For more information concerning your NSB Consumer Account, please refer to our "All About Your Consumer Deposit Account" (Account Agreement) booklet.
  2. Funds may be deposited at any time. Transfers from this account to another account or to third parties by preauthorized, automatic, telephone, computer, check, draft, debit card, or similar order are limited to six per statement cycle. Greater than six transfers will result in a $5.00 excess transaction fee per item. The account will be closed or converted to a transaction account if repeated transaction limitation violations occur. If we convert your account, we will tell you that we have done so.
For more information, refer to our Truth in Savings Disclosure.

For more information about Certificates of Deposit or IRAs, CLICK HERE >

To speak with an account representative, just stop in at one of our convenient locations
or call us at (978) 538-7000.
 

All Deposits are Insured in Full

At North Shore Bank, every deposit is insured in full. FDIC insures each depositor up to $250,000. All deposits above the FDIC limit are insured in full by the Share Insurance Fund (SIF).