Massachusetts Savings Rates - September 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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The best savings rates for Massachusetts include Service Federal Credit UnionService Federal Credit Union199 Worcester Ct, Falmouth, MA 02540A-4.9 ★Texas Ratio: 16.71%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: 1.67%Real return: +5.20%APY minus 2.8% CPI (February 2026) Senior Statement Savings at 8.00% APY, Lowell Firefighters Credit UnionLowell Firefighters Credit Union642 Chelmsford St, Lowell, MA 01851A+5.0 ★Texas Ratio: 0.00%Real return: +5.20%APY minus 2.8% CPI (February 2026) Savings Club for Kids at 8.00% APY, Cape Cod Five Cents Savings BankCape Cod Five Cents Savings Bank1500 Iyannough Rd, Hyannis, MA 02601A+5.0 ★Texas Ratio: 3.42%Real return: +2.20%APY minus 2.8% CPI (February 2026) SaveUp Companion 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: September 21, 2026
Compare the Best Savings Rates in Massachusetts
Qualifications Required: Direct deposit of net pay is required into members Service CU account.; 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.
APY=Annual Percentage Yield. 8.00% APY will be paid on the balance in your account up to the first $500.00. A dividend rate of 0.05% will be paid on the remaining balance in your account that exceeds $500.00 with a $500.01 balance earning a 8.00% APY and a $1,000.00 balance earning a 4.193% APY, as examples. Fees could reduce earnings. All new Jeanne D'Arc Credit Union members will have one of their consumer savings accounts (except retirement statement savings) automatically designated as their primary savings account to receive these special terms. Additional savings accounts established under the same member name, and related tax identification number, are not eligible for these special terms. The M3TM Money Club Savings is available to children Newborn to age 12. Dividend rates are effective as of November 1, 2024. All rates are subject to change, after account opening, without notice.
APY=Annual Percentage Yield. 8.00% APY will be paid on the balance in your account up to the first $500.00. A dividend rate of 0.05% will be paid on the remaining balance in your account that exceeds $500.00 with a $500.01 balance earning a 8.00% APY and a $1,000.00 balance earning a 4.193% APY, as examples. Fees could reduce earnings. All new Jeanne D'Arc Credit Union members will have one of their consumer savings accounts (except retirement statement savings) automatically designated as their primary savings account to receive these special terms. Additional savings accounts established under the same member name, and related tax identification number, are not eligible for these special terms. The M3TM Money Club Savings is available to children Newborn to age 12. Dividend rates are effective as of November 1, 2024. All rates are subject to change, after account opening, without notice.
Balance: $.01-$9,999.99; Minimum Daily Balance to Avoid Monthly Maintenance Fees: $0
Balance: $0 - $1,000
Balance: Up to and including the first $2,000.00
On Balances Up To $1000.00
Balance: $0.00 - $500
Qualifying balances of $250,000 or less only
Balance: $100,000.00 +
$0-$20,000
Balance: $0.00 - $20,000.00; 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. Limit one account per tax reporting owner. Needham Bank Flex Checking Account required. Personal accounts only.
Qualifications Required; On balances $0.01 up to $25,000.
Qualifications Required: At least $250 in cumulative deposits during the previous statement cycle ("Evaluation Period").; 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. Rates are variable and subject to change.
Earn 4.00% APY* on balances up to $25,000; Earn 0.500% APY* on balances over $25,000; No minimum balance required; No monthly maintenance fees; Sync to digital wallet like Apple Pay for contactless, cashless purchases; Mobile App for Apple and Android devices - deposit checks, apply for a loan, open a new account, send money to family and friends with Zelle; Visa Debit Card with EMV chip technology; CO-OP Nationwide ATM & Shared Branch Network with nearly 30,000 surcharge free ATMs, 5,000 branches; Overdraft line-of-credit up to $20,000 available; Enroll in VISA Debit Card purchase alerts Click here
Qualifications Required; Balance: $0.00 - $100,000.00
See footnote **
Balance: $20,000 or greater
2,500 Co-op Points
2,500 Co-op Points
Balance: $500,000.01 and above
Balance: $10.00 - $9,999.99; 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
2,500 Co-op Points
2,500 Co-op Points
Earn substantially more than the national average yield for savings accounts.
2,500 Co-op Points
2,500 Co-op Points
Earn an extra 1.00% APY for 3 months when you refer a friend. Maximum balance limits apply.
Balance: $100,000 - $500,000 (plus interest paid)
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. Balances of $100,000 to $500,000 earn 3.50% APY; balances less than $100,000 earn 0.50% APY.
New money only. APY shown assumes the account is paired with an active Direct Advantage Checking. Without a Direct Advantage Checking, the APY will be 0.10% lower.
2,500 Co-op Points
2,500 Co-op Points
Balance: $0.00 - $500.00
Balance: $20,000 - $2,500,000
2,500 Co-op Points ^
New money only. APY shown assumes the account is paired with an active Direct Advantage Checking. Without a Direct Advantage Checking, the APY will be 0.10% lower.
Balance: Below $100,000.01
Balance: Below $100,000.01
Qualifications Required: ACH Credit; ACH Credit Qualifications Met: Yes
Balance: $200,000 and over
Balance: $1.00; Compounding: Monthly
Balance: $100,000.01 - $250,000.00
Balance: $150,000 - $199,999.99
Accounts with higher balances will need to be opened at a branch office.
Balance: $100,000 - $149,999.99
^
Balance: $50,000.00 or more; Fees could reduce earnings. Account rate is variable and is subject to change at any time. Rates and Annual Percentage Yields effective 9/1/26
Balance: Bal. >= $10.00
Standard Rate earned if $250 deposit requirement is not met. Rates are variable and subject to change.
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 0.110 points over the past 7 days to 1.968% APY, up from 1.858%.
Massachusetts standard savings rates rose 0.013 points over the past 7 days to 0.814% APY, up from 0.801%.
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 1.968% 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 60–90 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 (1.968% APY) | Monthly Earnings | Standard Savings (0.814% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $98.41 / year | $8.20 | $40.68 / year | $3.39 |
| $10,000 | $196.82 / year | $16.40 | $81.36 / year | $6.78 |
| $25,000 | $492.05 / year | $41.00 | $203.40 / year | $16.95 |
| $50,000 | $984.10 / year | $82.01 | $406.80 / year | $33.90 |
| 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 September 22, 2026. | ||||
About Our Massachusetts Savings Rate Database
MonitorBankRates tracks 507 savings rates from 21 banks and 11 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 11 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 1.968% 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 1.968% 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: 32 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 1.968%, saving 10% of the local median salary ($5,723/year) would earn an additional $113 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 | 1.968% | 0.814% | 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 | 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 September 22, 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 1.968% 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 1.968% 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 1.968% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 1.968% APY grows to roughly $36,918 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 - Lowell Firefighters Credit Union
Savings Club for Kids: 8.00% APY - Cape Cod Five Cents Savings Bank
SaveUp Companion Savings: 5.00% APY - Dedham Institution for Savings
Start Up Savings: 5.00% APY
Massachusetts Rates & Resources
Cities in Massachusetts
