Massachusetts (MA) Savings Rates - April 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 02540A5.0 ★Texas Ratio: 11.03%Real return: +7.20%APY minus 2.8% CPI (February 2026) Deployed Warrior Savings at 10.00% APY, Jeanne D Arc Credit UnionJeanne D Arc Credit Union581 Merrimack St, Lowell, MA 01854 3908A+5.0 ★Texas Ratio: 1.81%Real return: +5.20%APY minus 2.8% CPI (February 2026) Savings Account 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, 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, and 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.
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: April 16, 2026
Compare the Best Savings Rates in Massachusetts
Qualifying balance up to $1,000.00
Qualifying balance up to $9,999.99
Qualifying balance up to $2,000.00
Qualifications Required: receive a minimum of $1,000 in direct deposits; enroll in eStatements; have three (3) electronic withdrawal debit transactions posted and cleared (excluding internal transfers); Qualifying balance up to $250,000
Qualifying balance up to $10,000.00
Qualifying balance up to $10,000
Earn 10x the National Average2
Qualifying balance up to $25,000.00
Qualifications Required; Qualifying balance up to $25,000.00
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
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
An extra-large balance deserves an extra-large rate! Earn a top-of-market APY on balances of $25,000 and up.
Balances $100,000 -$500,000
Qualifying balance up to $500.00
Qualifications Required: at least two monthly ACH credits (such as direct deposits or between-bank transfers) of at least $250 each; Qualifying balance up to $1,000.00
$1,000 is required to open the account.; Online account opening only. Applicable for consumers only. Rate may change at any time without notice. Fees could reduce earnings.
Available to consumers only. New money is welcome but not required.
Qualifying balance up to $100,000.00
$50,000.00 or more
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
For members aged 5 - 18
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 0.314 points over the past 7 days to 1.787% APY, down from 2.101%.
Massachusetts standard savings rates fell 0.003 points over the past 7 days to 0.682% APY, down from 0.685%.
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 1.787% 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 (1.787% APY) | Monthly Earnings | Standard Savings (0.682% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $89.35 / year | $7.45 | $34.11 / year | $2.84 |
| $10,000 | $178.70 / year | $14.89 | $68.21 / year | $5.68 |
| $25,000 | $446.75 / year | $37.23 | $170.53 / year | $14.21 |
| $50,000 | $893.50 / year | $74.46 | $341.05 / year | $28.42 |
| 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 April 16, 2026. | ||||
About Our Massachusetts Savings Rate Database
MonitorBankRates tracks savings rate offers from 23 banks and 13 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 13 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 1.787% — 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 1.787% 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 — 36 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 1.787%, saving 10% of the local median salary ($5,723/year) would earn an additional $102 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 | 1.787% | 0.682% | 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 April 16, 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 1.787% 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 1.787% 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 1.787% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 1.787% APY grows to roughly $35,628 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
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 - Jeanne D Arc Credit Union
Savings Account — 8.00% APY - Lowell Firefighters Credit Union
Savings Club for Kids — 8.00% APY - Dedham Institution for Savings
Start Up Savings — 5.00% APY - Cape Cod Five Cents Savings Bank
SaveUp Companion Savings* — 5.00% APY
Cities in Massachusetts
