Certificates of Deposit, IRA's and Health Savings Accounts

Certificates of Deposit
We offer competitive rates and terms that range from 3 Months to 48 Months. It's a safe and easy way to save money. See a Bank Representative for more details and rate information.

Individual Retirement Accounts
We offer a Traditional IRA, a ROTH IRA and an Educational IRA. The terms and rates are the same as our Certificates of Deposit. IRA's will help you save for retirement years.

2023 Contribution Limits:

  • $6,500 ($7,500 if you're age 50 or older) or
  • your taxable compensation for the year, if your compensation was less than this dollar limit.

Health Savings Account

Healthcare costs are rising. Wouldn't it be nice to set aside money to cover medical expenses, tax free? You can with a Health Savings Account from Cambridge State Bank. Certain requirements apply. See Personal Banker for more details.

2023 offers individuals and families additional opportunities to save for current and future health care with a Health Savings Account (HSA). 
  • HSA holders can choose to save up to $3,850 for individual and $7,750 for a family (HSA holders 55 and older get to save an extra $1,000 which means $4,850 for an individual and $8,750 for a family) - and these contributions are 100% tax deductible from gross income.
  • Minimum annual deductibles are $1,500 for self-only coverage or $3,000 for family coverage.
  • Annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) cannot exceed $7,500 for self-only coverage and $15,000 for family coverage.

For more detailed information on HSA plans and taxes, visit the U.S. Department of Treasury website at www.ustreas.gov or talk with your tax advisor.