Personal Savings
It’s pretty simple: How people live in Miami is different from how people live in Middlebury. What people need in Boston is different from what they need in Bristol. So if your life is centered here, but your bank really isn’t, odds are you’re not getting exactly what you need. Create a financial cushion, save for a special purchase, or plan for the future with our various savings accounts – simple, straight-forward accounts built for life around here. Get competitive rates and flexibility to meet your unique needs, from an expert team committed to help you grow in the community that we know.
Relationship Savings Account
Checking and savings: the perfect match. Take your savings to the next level with a Thomaston Savings Bank Relationship Savings account. With robust features and a local team of experts, we have the competitive rates and flexibility to meet your unique needs. Plus, receive a premium rate when you link your Relationship Savings account to our Relationship Checking Account.
$15,000.00 minimum balance to open. A maintenance service charge of $15.00 will be imposed every month the balance in the account falls below $1,000.00 any day in the month. You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
Open an account online or at your nearest branch.
Savings Account
Does having 24/7 access to your money sound appealing? A savings account may be your perfect match. No need for a passbook to make deposits or withdrawals — a savings account comes with a free ATM card that grants you access to 24-hour banking at ATMs everywhere. Simply start with a $25 minimum deposit and start earning interest today.*
*Early closing fees may apply. A $1 Thomaston Savings Bank service charge will be issued per withdrawal when using another bank’s ATM (additional surcharges from other banks may also apply). No fees apply if your card is used at a participating MoneyPass® ATM.
Open an account online or at your nearest branch.
Health Savings Account (HSA)
Money deposited and interest earned on this account are tax-deferred and can be withdrawn tax-free. And with free checks, a Visa HSA Debit Card, and free Online Banking and Bill Pay services, managing the costs of your healthcare becomes that much easier. Plus, our HSA is a tiered rate product, allowing you to earn more when you save more. Check out some frequently asked questions about HSAs.
Contribution Limits:
- Save for healthcare costs if you're currently enrolled in a high-deductible healthcare plan
- Earn more interest when you maintain a higher balance
- Cover qualified current and future medical expenses
- No monthly service or transaction fee
- Deposits and earnings from interest are tax-deferred and can be withdrawn tax-free for qualifying expenses
- Includes easy access through checks, Visa HSA Debit Card and online services
Open an account online or at your nearest branch.
Certificate of Deposit (CD)
Make your money work for you! Thomaston Savings Bank Certificates of Deposit offer some of the most competitive CD rates in Connecticut to grow your money. Open a CD with a low minimum deposit and varying terms, from 91 days to 5 years.
Guaranteed rates, with great returns that you can get right here.
Fixed Rate CDs: $1,000 minimum deposit to open an account and earn the disclosed annual percentage yield.
Variable Rate CDs: $25 minimum deposit to open an account and earn the disclosed annual percentage yield.
Open an account online or at your nearest branch.
Individual Retirement Account (IRA)
Build your savings and gain tax advantages with an IRA from Thomaston Savings Bank. Individual Retirement Accounts (IRAs) offer some unique ways to build better savings by deferring tax payments until you withdraw your money or retire. An IRA is an account that you can add to as you grow so while it can benefit you before tax season, an IRA is beneficial all year long.
Visit your local Thomaston Savings Bank branch to find out which IRA is right for you.
Traditional IRA
- Tax-deductible contributions
- Federal and/or state withholding available upon withdrawal
- Penalties apply to withdrawals before age 59 ½
- As of 2023, required minimum withdrawals begin at age 73
Roth IRA
- Contributions are not tax-deductible
- All earnings and principal are 100% tax-free upon withdrawal
- No mandatory distribution age
- Income limits apply when attempting to open a Roth IRA*
*Consult your tax advisor for current limits for your individual situation.
Open an account at your nearest branch.
Routing #: 211174259