Retirement Accounts

BCSB can help you write a happy ending with retirement accounts designed to maximize your financial security.

With a traditional Individual Retirement Account (IRA), your earnings grow tax-deferred until withdrawal and up to 100% of your contribution may be tax-deductible (please see a tax advisor to find out your deduction level).

BCSB offers Roth IRAs, which while not tax-deductible, offer tax- and penalty-free qualified distributions for conditions such as disability or the purchase of a first home. Additionally, you are not required to take distributions from a Roth IRA during your lifetime and Roth IRAs pass tax-free to your heirs.

For Retirement Accounts, open a Statement Savings Account with a minimum opening deposit of $250, a Regular Certificate of Deposit with a term of 6, 12, 24 or 60 months with a minimum balance of $500 or any Special Certificate of Deposit with a minimum balance of $1,000 at a term currently available for Special Certificates of Deposit.
Click here to view current certificate of deposit rates.

Click here to access our convenient Retirement Savings Calculators.

Call 410.583.8700 or click here to have an account representative contact you.

APY means Annual Percentage Yield. Minimum deposit to open a Retirement Regular Certificate of Deposit Account is $500. Minimum deposit to open a Retirement Special Certificate of Deposit Account is $1,000. Interest is computed from day of deposit to day of withdrawal, compounded daily and paid monthly. Withdrawals for Required Minimum Distributions (by customers over 70½ years) will not be assessed early withdrawal penalties. Early withdrawal penalties apply to all other Retirement Certificate of Deposit customers. Early withdrawal penalties are assessed in an amount equal to the lesser of all interest paid or three months earnings (for terms of 12 months or less) or six months earnings (for terms greater than 12 months). Bump-up and term changes are not permitted. Deposits to Retirement Certificates can be made at maturity. Additional deposits are not permitted during the term of the certificate. Retirement Statement Savings Accounts are available with a minimum balance of $250, and allow for deposits to be made at any time. There is no monthly fee associated with the Retirement Statement Savings Account.