Massachusetts Savings Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Massachusetts savings account rates range from 2.50% to 10.00% APY, verified by MonitorBankRates as of October 13, 2026. The best savings rates for Massachusetts include Service Federal Credit UnionService Federal Credit Union199 Worcester Ct, Falmouth, MA 02540A-4.9 ★Texas Ratio: 16.25%Real return: +7.20%APY minus 2.8% CPI (February 2026) Deployed Warrior Savings Account at 10.00% APY, Jeanne D Arc Credit UnionJeanne D Arc Credit Union581 Merrimack St, Lowell, MA 01854 3908A+5.0 ★Texas Ratio: 2.58%Real return: +5.20%APY minus 2.8% CPI (February 2026) Senior Statement Savings at 8.00% APY, Cape Cod Five Cents Savings BankCape Cod Five Cents Savings Bank1500 Iyannough Rd, Hyannis, MA 02601A+5.0 ★Texas Ratio: 3.37%Real return: +2.20%APY minus 2.8% CPI (February 2026) SaveUp Companion Savings at 5.00% APY, Leader BankLeader Bank141 Massachusetts Ave, Arlington, MA 02474A+5.0 ★Texas Ratio: 0.22%Real return: +2.20%APY minus 2.8% CPI (February 2026) Zeugma Plus Savings at 5.00% APY, and Dedham Institution for SavingsDedham Institution for Savings55 Elm St, Dedham, MA 02026A5.0 ★Texas Ratio: 10.91%Real return: +2.20%APY minus 2.8% CPI (February 2026) Start Up Savings at 5.00% 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, so 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: October 13, 2026
Compare the Best Savings Rates in Massachusetts
Qualifications Required: Direct deposit of net pay into Service CU account; serving in a combat zone as defined by Service CU; orders of deployment to a combat zone must be provided; eCommunications is required; Tier: Tier 1. Balance: $0.00. *Warriors deployed in combat zones may deposit up to $10,000 into a Service CU Deployed Warrior Savings Account which earns 10% APY (Annual Percentage Yield) up to $10,000.00. If actual daily balance exceeds $10,000, the remaining balance will receive variable APY of 10%-0.10%. Rates are variable and subject to change; accurate as of 09/08/2026. Service member must be serving in a combat zone as defined by Service CU; orders of deployment to a combat zone must be provided. Direct deposit of net pay is required into members Service CU account. No minimum balance is required to open the Deployed Warrior Savings Account; $5 deposit is required to open a Primary Savings Account. Monthly deposits into a Deployed Warriors Savings Account cannot exceed the amount of your monthly net military pay; however, deposits into the Deployed Warrior Savings Account may be direct deposit, an allotment, or a transfer of funds from a Service CU account. Withdrawals are not permitted from a Deployed Warrior Savings Account. If a withdrawal is made from the Deployed Warrior Savings Account before the redeployment date plus 120 days, the funds in the Deployed Warrior Savings Account will be transferred to the Primary Savings Account, and the Deployed Warrior Savings Account will be closed. The Deployed Warrior Savings Account will stop accruing 10% APY at the end of the month of return date per deployment orders plus 120 days. eCommunications is required.
Primary savings account; Qualifying balance up to $500.00; 0.05% dividend rate on balance above $500.00; Dividend rates effective as of November 1, 2024
Primary savings account; Qualifying balance up to $500.00; 0.05% dividend rate on balance above $500.00; Dividend rates effective as of November 1, 2024
Balance: $.01-$9,999.99
Qualifying balances of $250,000 or less only
- Sep 24, 20265.00%▲ from 4.75%
- Sep 18, 20264.75%first recorded
Balance: $0 - $1,000
On Balances Up To $1000.00
Balance: $0.00 - $500
Balance: Up to and including the first $2,000.00
Max. Balance: up to $500.00*
Qualifications Required; LevelUp Rate applies when depositing $250+ per month (statement cycle); rate applied to full balance; Standard Rate of 3.00% APY otherwise
Earn LevelUp Rate on entire balance when you deposit $250+ per month; Standard Rate of 3.00% APY otherwise
- Sep 25, 20264.20%▲ from 4.00%
- Sep 14, 20264.00%first recorded
6-Month Boost for New Customers. After 6 months, this boost will expire and your rate will revert to our standard variable APY (currently 3.80%).
Balance: $100,000.00 +
$0-$20,000; Open Online
The APY for the GoalGetter Savings Account is 4.00% for balances up to $20,000. For total balances above $20,000, the rate is blended; the first $20,000 will earn 4.00% APY and the remaining balance will earn 0.05% APY. For example, if your GoalGetter Savings account had a daily balance of $25,000, you would earn 4.00% APY for that day on $20,000 and 0.05% APY on the remaining $5,000. Limit one account per tax reporting owner. Needham Bank Flex Checking Account required. Personal accounts only.
Qualifications Required: 30 debit card purchases; 1 direct deposit or automatic payment (ACH); e-statement enrollment; Qualifying balance up to $25,000.00; Earn 0.50% APY on balances over $25,000.00 when qualifications are met; Linked to EMPOWER Rewards Checking
Earn 10x the national average savings account rate. No monthly fees. Interest compounded daily. Human support from a trusted bank. Maximum account balance to receive the 4.00% APY is $1,000,000. This is a tiered variable rate account, and rates may change after the account is opened. Fees may reduce earnings. Balance: $2,500 - $1,000,000
Qualifications Required; Balance: $0.00 - $25,000.00; Qualifying balance up to $25,000.00; Non-qualifying rate 0.00% APY; New accounts receive qualifying rate for first statement cycle
Qualifications Required: 1 direct deposit or ACH credit; 12 debit card purchases; e-statements enrollment; online banking enrollment/login; Balance: $0.00 - $100,000.00
Tier 1; SCU Direct account offers a higher dividend rate to members who save systematically with a preauthorized weekly or monthly transfer from a SCU Checking Account. Unlimited withdrawals only when made in person. Online transfer available. Premium tiered variable dividend rate and APY. $10.00 minimum preauthorized transfer amount to open from your SCU Checking Account. $10,000 maximum opening deposit. Subsequent deposits to this account may be made only by means of a preauthorized weekly or monthly transfer from your qualifying checking account. Changing your transfer amount or frequency to this account can be done at any of our branch locations or by calling the contact center at 781-784-7725 or toll free at 877-661-3300; APY = Annual Percentage Yield. Rates are variable and may change after the account is opened at any time at SCU's discretion. Fees may reduce earnings on the account. Other conditions may apply. Please refer to SCU's Important Account Information for Our Members and Schedule of Fees and Service Charges for important information and disclosures.; Minimum balance required to open and earn the stated Annual Percentage Yield. Other terms and conditions may apply.
- Oct 10, 20264.00%▲ from 3.75%
- Sep 18, 20263.75%first recorded
Qualifications Required: Qualifications Required; APY between 0.05 and 4.00%
- Sep 27, 20264.00%▲ from 0.05%
- Sep 14, 20260.05%first recorded
No Monthly Fees | No minimum account balance requirements -and unlimited transactions.
Balance: $10; **See important information regarding eXPERIENCE Online Savings Account rates.
Balance: $250,000+
High-yield savings account designed to help your money grow faster. No monthly fees or minimum balance requirements. Competitive rates are reviewed periodically.
Balance: $20,000 or greater
Standard variable APY. This is the rate after the 6-month boost expires.
- Oct 6, 20263.80%▼ from 4.15%
- Sep 27, 20264.15%first recorded
Annual Percentage Yield (APY) is variable and is accurate as of 10/9/2026. Rate is subject to certain terms and conditions. Rate and APY may change at any time. Fees may reduce earnings.
Balance: $500,000.01 and over
Published APY range: 3.75% - 2.75%. Tier 2; SCU Direct account offers a higher dividend rate to members who save systematically with a preauthorized weekly or monthly transfer from a SCU Checking Account. Unlimited withdrawals only when made in person. Online transfer available. Premium tiered variable dividend rate and APY. $10.00 minimum preauthorized transfer amount to open from your SCU Checking Account. $10,000 maximum opening deposit. Subsequent deposits to this account may be made only by means of a preauthorized weekly or monthly transfer from your qualifying checking account. Changing your transfer amount or frequency to this account can be done at any of our branch locations or by calling the contact center at 781-784-7725 or toll free at 877-661-3300; APY = Annual Percentage Yield. Rates are variable and may change after the account is opened at any time at SCU's discretion. Fees may reduce earnings on the account. Other conditions may apply. Please refer to SCU's
eOne Savings earns 3.66% APY (Annual Percentage Yield) on daily balances of $0.01-$1,000,000 and must be opened with funds not previously on deposit with Salem Five or Salem Five Direct. The rate may change after the account is opened. Salem Five reserves the right to transfer balances over $1,000,000 to a Statement Savings Account earning a variable rate of interest and APY as disclosed to you at the time the account is opened. eOne Savings may be used to provide overdraft protection for eOne Checking. This offer is not available at Salem Five branch locations. Consumer accounts only.
- Oct 2, 20263.66%▲ from 3.51%
- Sep 27, 20263.51%first recorded
For balances of $25,000 and up, earn even more with a Jumbo Savings account.
Earn 1.00% APY bonus for 3 months when you refer a friend. Standard APY may change at any time before or after account is opened. Maximum balance limits apply.
- Sep 18, 20263.50%▲ from 3.40%
- Sep 14, 20263.40%first recorded
APY denotes Annual Percentage Yield. A minimum balance of $25,000 is required to open and avoid a $10 monthly service charge.
- Oct 7, 20263.50%▲ from 0.50%
- Sep 27, 20260.50%first recorded
Balance: $100,000 -$500,000 (plus interest paid)
Maximum balance allowed is $500,000 plus interest paid. Rates are variable and subject to change at any time without notice. This is a tiered rate account. Balances of $100,000 to $500,000 earn 3.50% APY; balances less than $100,000 earn 0.50% APY. Account is limited to consumers and must be opened online; individual or joint ownership only. This account may only be funded with NEW MONEY not on deposit at the Institution for Savings. Account is limited to one account per primary account owner. Fees may reduce earnings.
- Sep 19, 20263.50%▲ from 3.25%
- Sep 7, 20263.25%first recorded
Balance: $100,000 - $249,999.99
The Annual Percentage Yield for the Village Bank High Yield Savings Account is 3.50% for balances up to $4,999,999.99. For total balances above $4,999,999.99, the rate is blended; the first $4,999,999.99 will earn 3.50% APY and the remaining balance will earn 0.05% APY. For example, if your Village Bank High Yield Savings account had a daily balance of $6,000,000, you would earn 3.50% APY for that day on $4,999,999.99 and 0.05% APY on the remaining $1,000,000.01. Personal accounts only. Rates may change after account is opened. The Village Bank High Yield Savings account offer is available to new or existing customers depositing new money not currently or previously on deposit with The Village Bank.
Balance: $0 to $4,999,999.99; New Money Only
Balance: $50,000+; New money only; APY assumes paired Direct Advantage Checking (without it, APY 0.10% lower)
$9,999.01 to $9,999,999.00
- Sep 22, 20263.50%▲ from 0.10%
- Sep 18, 20260.10%▼ from 3.50%
- Sep 14, 20263.50%first recorded
Balance: $20,000 - $2,500,000
Balance: $250,000+
Balance: $5,000 - $49,999.99; New money only; APY assumes paired Direct Advantage Checking (without it, APY 0.10% lower)
Qualifications Required; Personal accounts only; Compounding: Monthly
- Oct 5, 20263.30%▲ from 3.25%
- Sep 14, 20263.25%first recorded
Balance: Below $100,000.01
Balance: Below $100,000.01
Balance: $100,000.01 - $250,000.00
Balance: $200,000 and over
Requires a Beacon Bank checking account with an OWNERSHIP relationship.
Balance: $150,000 - $199,999.99
Balance: $100,000 - $149,999.99
Balance: $10,000.00 - $1,000,000; Available to consumers only; New money is welcome but not required
Balance: $50,000.00 - $99,999.99
Balance: $0-$100,000.00
- Oct 10, 20263.00%▲ from 2.90%
- Sep 14, 20262.90%first recorded
Balance: $50,000 and above
High Yield Savings; Balance: $50,000 and above
Balance: $500,000.00 and over
Balance: $0.01 - $25,000.00
Balance: $50,000.01 - $100,000.00
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 rose 0.177 points over the past 7 days to 2.231% APY, up from 2.054%.
Massachusetts standard savings rates rose 0.007 points over the past 7 days to 0.483% APY, up from 0.475%.
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 to 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 2.231% 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: the Federal Reserve holds the federal funds rate at its current level over the next 12 months, with the possibility of one 25 basis point increase; deposit rates at banks and credit unions track policy-rate changes within 60 to 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 (2.231% APY) | Monthly Earnings | Standard Savings (0.483% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $111.57 / year | $9.30 | $24.12 / year | $2.01 |
| $10,000 | $223.14 / year | $18.60 | $48.25 / year | $4.02 |
| $25,000 | $557.85 / year | $46.49 | $120.62 / year | $10.05 |
| $50,000 | $1,115.70 / year | $92.98 | $241.25 / year | $20.10 |
| 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 October 13, 2026. | ||||
About Our Massachusetts Savings Rate Database
MonitorBankRates tracks 560 savings rates from 23 banks and 21 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 to 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 21 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 2.231% 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 to 6 months of expenses in a liquid, FDIC-insured account. Massachusetts high-yield savings rates currently average 2.231% APY, far above a typical checking account.
- Short-term savings goals (6 to 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: 44 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 2.231%, saving 10% of the local median salary ($5,723/year) would earn an additional $128 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 | 2.231% | 0.483% | 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 to $100 | $25 to $100 | $0 to $2,500 | $500 to $1,000 |
| Rate Risk | Variable, moves with Fed policy | Variable, moves with Fed policy | Variable, moves with Fed policy | 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 October 13, 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 2.231% 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 2.231% 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 2.231% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 2.231% APY grows to roughly $38,871 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 Account: 10.00% APY - Jeanne D Arc Credit Union
Senior Statement Savings: 8.00% APY - Cape Cod Five Cents Savings Bank
SaveUp Companion Savings: 5.00% APY - Leader Bank
Zeugma Plus Savings: 5.00% APY - Dedham Institution for Savings
Start Up Savings: 5.00% APY
Massachusetts Rates & Resources
Cities in Massachusetts
