Starting an IRA: Plan Your Retirement

IRA investments are available for anyone under the age of 70-1/2 (no age restriction on Roth IRAs) who earned income during the previous tax year. Deposits may be made up to the lesser of 100% of this compensation or the maximum allowed by law.


  • Individual Taxpayer: $5,500
  • Spousal IRA: $11,000 for married taxpayers filing jointly. Yearly contributions may be divided between accounts, provided the total contribution does not exceed $11,000 and neither account is allocated more than $5,500. 

There is a "catch-up" provision for people ages 50 and over (2016/2017 = $6,500). Please ask for details.

The minimum deposit to start a UniBank IRA Certificate Account is $500. You can select from a variety of terms (please ask a Customer Service Representative for our latest terms and interest rates). At the end of the term you select, the funds invested in your IRA may be rolled over and reinvested for the same or a different length of time.

If you do not have $500 to start your IRA account today, no problem. UniBank makes it easy to save with an IRA Statement Savings Account. This account allows you to build up to the minimum certificate investment of $500. You may do so by depositing smaller amounts on a regular basis. This can be done by payroll direct deposit to make it even easier. Once the deposits reach $500, your IRA Statement Savings Account may be rolled over into the IRA Certificate Account of your choice!

If you’re ready to start your IRA with Massachusetts-based UniBank, please visit your local branch or contact us.