Massachusetts Savings Rates - June 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
- Bank & Credit Union Health Safety Ratings
- Bank & Credit Union Star Ratings
- Finance Calculators
The best savings rates for Massachusetts include Service Federal Credit UnionService Federal Credit Union199 Worcester Ct, Falmouth, MA 02540A5.0 ★Texas Ratio: 10.17%Real return: +7.20%APY minus 2.8% CPI (February 2026) Deployed Warrior Savings at 10.00% APY, Cape Cod Five Cents Savings BankCape Cod Five Cents Savings Bank1500 Iyannough Rd, Hyannis, MA 02601A+5.0 ★Texas Ratio: 1.90%Real return: +2.20%APY minus 2.8% CPI (February 2026) SaveUp Companion Savings* at 5.00% APY, Dedham Institution for SavingsDedham Institution for Savings55 Elm St, Dedham, MA 02026A5.0 ★Texas Ratio: 6.25%Real return: +2.20%APY minus 2.8% CPI (February 2026) Start Up Savings at 5.00% APY, Leader BankLeader Bank141 Massachusetts Ave, Arlington, MA 02474A+5.0 ★Texas Ratio: 0.18%Real return: +1.95%APY minus 2.8% CPI (February 2026) Zeugma Plus Savings at 4.75% APY, and Lee BankLee Bank75 Park St, Lee, MA 01238A+5.0 ★Texas Ratio: 4.10%Real return: +1.20%APY minus 2.8% CPI (February 2026) EMPOWER Rewards Savings at 4.00% APY.
Use the tables below to compare savings rates across Massachusetts side-by-side. Massachusetts savings rates currently reach as high as 10.00% APY from Service Federal Credit Union at 199 Worcester Ct, Falmouth, MA 02540. Rates are continually updated — we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Massachusetts and the surrounding area. Last Updated and Verified: June 23, 2026
Compare the Best Savings Rates in Massachusetts
Qualifying balance up to $9,999.99
Qualifying balance up to $1,000.00
Qualifying balances of $250,000 or less only
Qualifications Required: Qualifications Required; Qualifying balance up to $25,000.00; If qualifications are met
Earn 0.500% APY* on balances over $25,000
Available to Flex Checking customers. No monthly maintenance fees. Perfect for focused savings such as building an emergency fund.
Qualifications Required: At least $250 in deposits during the Evaluation Period; Standard Rate of 3.00% APY accurate as of 06/22/2026. Rates are variable and subject to change at any time without notice, at the sole discretion of the bank. LevelUp Rate is applied to the full balance of LevelUp Savings accounts that receive a total of at least $250 in deposits during the Evaluation Period. Otherwise, accounts will earn the Standard Rate. Interest payments, account bonuses, account credits and reversals or refunds from the bank are not considered deposits for rate evaluation purposes. All LevelUp Savings accounts earn the LevelUp Rate at account opening and continue to earn the LevelUp Rate until the First Evaluation Period, to provide an opportunity to set up deposits. While accounts will not move from the LevelUp Rate prior to the First Evaluation Period, the LevelUp Rate is variable and subject to change at any time, including prior to the First Evaluation Period. An Evaluation Period is a statement cycle. The First Evaluation Period will be the third statement cycle after you open your account, with any rate change becoming effective the next statement cycle. For example, if you open in August, the first Evaluation Period would be October with any rate change effective in November. Any rate changes will take place at the end of the first business day of the month and will be based on deposits in the previous statement cycle. Fees may reduce earnings. $0 minimum opening deposit.
*LEARN MORE
Invest in your future with up to 3.50% APY.1 Saving should be effortless. With a Money Market account, it is.
Federally insured. No deposit limit. Liquid savings. No monthly fees.
Balances $100,000 - $500,000 (plus interest paid)
Qualifying balance up to $500.00
A smart, exclusive savings option for new customers.
APY* is calculated on a daily balance of $5,000.00 or more. ****
Qualifications Required; $10,000 minimum balance required to open and earn advertised APY. Available to consumers only. New money is welcome but not required.
Qualifications Required: At least 1 direct deposit or ACH credit; At least 12 debit card purchases; Be enrolled in and agree to receive e-statements; Be enrolled in and log into online banking; Qualifying balance up to $100,000.00
Qualifying balance up to $100,000.00
Standard Rate of 3.00% APY accurate as of 06/22/2026. Rates are variable and subject to change at any time without notice, at the sole discretion of the bank.
Bal. ? $10.00
No interest is accrued on any day that the balance is less than $10.00. Service fees may reduce earnings on the account. Companion Savings Account can be opened in conjunction with a Certificate of Deposit (CD) or a TSB 365 Checking. Deposits and withdrawals can be made at any time. The minimum opening deposit is $10.00.
Free eStatements ($10/month for paper statements); No early withdrawal penalties; Rates and Annual Percentage Yields effective 5/1/26
Minimum daily balance required to earn APY is $500.00.
Minimum Daily Balance to Avoid Monthly Maintenance Fees: $5,000
Balance range: $250,000.01 to $500,000.00
Balance range: $1,000 to $100,000
Qualifying balance up to $50,000.00
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
Massachusetts Savings Rate Trends
Compare local Massachusetts savings rate quotes against the statewide average
Daily savings rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.
Massachusetts high-yield savings rates fell 0.023 points over the past 7 days to 1.690% APY, down from 1.713%.
Massachusetts standard savings rates fell 0.005 points over the past 7 days to 0.828% APY, down from 0.833%.
Massachusetts Savings Rate Forecast — Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current MA high-yield average and a Fed funds spread to project the likely rate trajectory for 2026–2027.
Savings account rates are variable and move in close correlation with the Federal Reserve’s federal funds rate target. Our 12-month forecast is derived from the current MA high-yield savings average of 1.690% APY and a Fed funds spread model calibrated to the historical relationship between policy rate changes and deposit rate adjustments at banks and credit unions.
Key assumptions: 1–2 Federal Reserve rate cuts of 25 basis points each over the next 12 months, based on current CME FedWatch consensus; savings institutions typically pass through 70–90% of rate cuts to deposit rates within 60–90 days. High-yield online savings rates tend to adjust faster than standard branch-based savings rates.
Important notice: This forecast is for informational purposes only and should not be used as the sole basis for financial decisions. Rate forecasts carry significant uncertainty. The actual trajectory will depend on Federal Reserve decisions, economic conditions, and competitive dynamics among financial institutions in Massachusetts.
Savings Account Earnings in Massachusetts
Annual interest earnings at current MA average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (1.690% APY) | Monthly Earnings | Standard Savings (0.828% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $84.52 / year | $7.04 | $41.38 / year | $3.45 |
| $10,000 | $169.03 / year | $14.09 | $82.76 / year | $6.90 |
| $25,000 | $422.58 / year | $35.22 | $206.90 / year | $17.24 |
| $50,000 | $845.15 / year | $70.43 | $413.80 / year | $34.48 |
| Earnings estimates use daily compounding. Actual earnings depend on exact rate, compounding frequency, and daily balance maintained. Rates are variable and subject to change. Source: Massachusetts savings rate averages as of June 23, 2026. | ||||
About Our Massachusetts Savings Rate Database
MonitorBankRates tracks 314 savings rates from 19 banks and 15 credit unions offering savings accounts to Massachusetts residents — including community institutions, regional banks, and national online options. Our proprietary aggregation system pulls verified rate data directly from each institution’s official website — no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1–5), and Texas Ratio — objective financial health metrics calculated from FDIC and NCUA regulatory data — so you can compare yield and institutional safety in one place.
Current top rate: Service Federal Credit Union offers a savings account at 10.00% APY. Use the rate table above to compare all current offers in Massachusetts.
How to Find the Best Savings Rates in Massachusetts
What to compare when shopping for a savings account in Massachusetts
To find the best savings APYs in Massachusetts, start with credit unions and online-only banks — Massachusetts has 15 credit unions in our database, and they consistently offer some of the highest yields because they are member-owned nonprofits with lower overhead than traditional banks.
Always compare the APY (Annual Percentage Yield), not just the interest rate. APY reflects compounding and is the true measure of what you’ll earn. Savings accounts that compound daily earn slightly more than those compounding monthly at the same stated rate. The current MA high-yield savings average is 1.690% — but top local institutions are offering as high as 10.00%, so shopping around pays off.
Unlike a CD, savings account rates are variable — your rate can change at any time with Federal Reserve policy. Many institutions offer elevated introductory rates that reset after a promotional period. Review your account periodically to ensure your APY remains competitive.
When a High-Yield Savings Account Makes Sense
- Emergency fund: Financial experts recommend 3–6 months of expenses in a liquid, FDIC-insured account. Massachusetts high-yield savings rates currently average 1.690% APY — far above a typical checking account.
- Short-term savings goals (6–24 months): If you may need the money soon, a savings account gives you immediate access without early withdrawal penalties.
- Parking cash between investments: A high-yield savings account at Massachusetts institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally — 34 institutions in Massachusetts report savings rates to our database.
- No rate lock-in risk: Unlike a CD, your rate moves up with the market if rates rise further.
Consider an Alternative If…
- You want a locked-in, guaranteed return → Massachusetts CD rates
- You want check-writing flexibility → Massachusetts money market rates
- You need daily transaction access → Massachusetts checking rates
Massachusetts Financial Snapshot
Local demographics and economic context for savers — Source: U.S. Census Bureau
17.9% of residents are 65 or older, in line with the national average of 17.3%. At today’s MA high-yield savings average of 1.690%, saving 10% of the local median salary ($5,723/year) would earn an additional $97 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Massachusetts Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Massachusetts.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current MA Avg APY | 1.690% | 0.828% | View MMA Rates | View CD Rates |
| Rate Type | Variable | Variable | Variable | Fixed for term |
| FDIC / NCUA Insured | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K |
| Withdraw Anytime | ✓ Yes | ✓ Yes | ✓ Yes | ✗ Penalty applies |
| Check Writing | ✗ No | ✗ No | ✓ Often yes | ✗ No |
| Debit / ATM Card | Some institutions | ✗ Rarely | ✓ Often yes | ✗ No |
| Typical Min Deposit | $0 – $100 | $25 – $100 | $0 – $2,500 | $500 – $1,000 |
| Rate Risk | Rate may fall with Fed cuts | Rate may fall with Fed cuts | Rate may fall with Fed cuts | None — locked for term |
| Best For | Emergency fund, short-term goals, parking cash | Everyday saving, low-balance accounts | Active savers wanting flexibility + check writing | Locking in a rate for a defined period |
APY data reflects Massachusetts averages tracked in our database as of June 23, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Massachusetts
At MA’s top rate of 10.00% from Service Federal Credit Union, a $10,000 deposit earns $1,000 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Massachusetts earner is roughly $14,300. At 1.690% APY, saving $1,190/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsMassachusetts’s high-yield savings average is 1.690% APY — variable and always accessible. A local CD may offer a higher fixed yield in exchange for locking in your deposit. Compare both side-by-side to find the better fit for your timeline.
Budget CalculatorBefore you can grow your savings, you need to know how much you can set aside each month. The median Massachusetts earner makes $57,232/year. Track your income vs. expenses to find your monthly surplus — then put it to work at 1.690% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 1.690% APY grows to roughly $34,957 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Massachusetts savings rate tables are free for consumers to use, and we do not receive payment from any financial institution to be included or to be ranked in any particular order. Listings are based solely on the rates each institution publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Savings Rate Data: We aggregate savings account rates for Massachusetts directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every savings rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in Massachusetts. We feature a comprehensive mix of institutions — from neighborhood credit unions and competitive regional banks to large national institutions available to savers in MA.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update savings rates daily. Because savings account yields can fluctuate rapidly, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Savings Accounts in Massachusetts
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Massachusetts safe?
How often do savings rates change in Massachusetts?
Do I need a minimum deposit to open a savings account?
What is the difference between a Savings Account and a Money Market Account?
Are online banks better than local banks in Massachusetts?
How do I open a savings account in Massachusetts?
Best Savings Rates in Massachusetts
- Service Federal Credit Union
Deployed Warrior Savings — 10.00% APY - Cape Cod Five Cents Savings Bank
SaveUp Companion Savings* — 5.00% APY - Dedham Institution for Savings
Start Up Savings — 5.00% APY - Leader Bank
Zeugma Plus Savings — 4.75% APY - Lee Bank
EMPOWER Rewards Savings — 4.00% APY
Cities in Massachusetts
