Best Money Market Rates in Massachusetts - August 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Current Massachusetts money market deposit account rates include 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) Savings & Money Market Accounts at 5.00% APY, Washington Savings Bank Lowell, MAWashington Savings Bank Lowell, MA30 Middlesex St, Lowell, MA 01852A+5.0 ★Texas Ratio: 4.14%Real return: +1.70%APY minus 2.8% CPI (February 2026) High Yield Online Money Market at 4.50% APY, Bank5 ConnectBank5 Connect160 County St, New Bedford, MA 02740A+5.0 ★Texas Ratio: 1.34%Real return: +1.20%APY minus 2.8% CPI (February 2026) Connect Money Market at 4.00% APY, Liberty Bay Credit UnionLiberty Bay Credit Union300 Granite St Fl 3, Braintree, MA 02184 3909A+5.0 ★Texas Ratio: 2.09%Real return: +0.95%APY minus 2.8% CPI (February 2026) Business Money Market at 3.75% APY, and Wrentham Co-operative BankWrentham Co-operative Bank102 South St, Wrentham, MA 02093A+5.0 ★Texas Ratio: 0.00%Real return: +0.90%APY minus 2.8% CPI (February 2026) Premier Money Market at 3.70% APY. Money market rates as of August 28, 2026 according to verified data from MonitorBankRates.
Use the tables below to compare money market rates across Massachusetts side-by-side. Massachusetts money market rates currently reach as high as 5.00% APY from Dedham Institution for Savings at 55 Elm St, Dedham, MA 02026. Rates are continually updated — we recommend checking back frequently.
Rates reflect recent market quotes and representative offers available to depositors in Massachusetts and surrounding area. Last Updated and Verified: August 28, 2026
Compare the Best Money Market Rates Today in Massachusetts
Must be opened with funds not currently on deposit at Dedham Savings. Rates guaranteed until 12/31/26, and subject to change thereafter. Online statements required within 30 days of account opening, or account will revert to standard Statement Savings account at 0.05% APY for all balances. One account per client. Limited time offer. Fees may reduce earnings.
APY is accurate as of 1/1/2024. Rate is subject to change at any time without notice. Maximum deposit amount of $500,000. Personal accounts only. One account per customer. Fees may reduce earnings. Member FDIC/DIF. Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).
Earn 3.75% Annual Percentage Yield for new money only.
Preferred rates
Preferred rates
Preferred Rates require $25,000 not currently on deposit with Citizens.
$50,000.00+; Open Online (Opens in new tab)
$50,000+; Open Online (Opens in new tab)
Compounding: Daily
Intro rate APY 3.50%
$15,000+; Intro rate
The minimum balance to avoid a service fee is $2,500.00. Fees may reduce earnings. Rates subject to change daily and may change after the account is opened.
Rate Index: 30 Day Avg SOFR* minus 10% of the 30 Day Avg SOFR rate index
$25,000.00+; Open Online (Opens in new tab)
Balances of $2,000,000 - $4,000,000 earn 3.25% APY; balances less than $2,000,000 earn 1.50% APY. All accounts must be opened in person and are limited to one account per primary account owner. Fees may reduce earnings. Rates are variable and subject to change at any time without notice.
Balances $2,000,000-$4,000,000 (plus interest paid)
To receive the 3.25% APY a balance of $500,000 or greater needs to be maintained. As of October 30, 2024 the default rate is 1.00% APY. Fees and other conditions could reduce earnings. You must maintain a minimum balance of $10 in the account to obtain the disclosed APY. The Ultra Money Market requires a Savers Bank checking account to receive the advertised promotional money market rate.
Compounding: Daily
New Money Only: Yes
Daily balances from $10.00 to $24,999.99 will earn 0.05% APY. Daily balances below $10.00 will not earn interest. Earn this high rate when you open a Business Platinum Money Market with money that is not already held in a Bluestone Bank account.
Balance of $1,000,000.01 or More
Open Online (Opens in new tab)
With Performance Plus Checking. Fees may reduce earnings. This is a variable rate tiered account, and rates may change after the account is opened.
Balances of $250,000 to $1,000,000 earn 3.00% APY; balances less than $250,000 earn 1.50% APY. Funds over $1,000,000, excluding interest paid, will be returned to account owners. All accounts must be opened in person and are limited to one account per primary account owner. Fees may reduce earnings.
Balances of $250,000 and above earn 3.00% APY; balances less than $250,000 earn 1.50% APY. All accounts must be opened in person. Fees may reduce earnings. Rates are variable and subject to change at any time without notice.
Annual Percentage Yield (APY) is subject to change. Interest is compounded daily and credited monthly.
APY varies dependent upon the Money Market tier and the daily balance maintained.
Compounding: Daily
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.
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.
Rates shown are Annual Percentage Yield (APY), accurate as of 11/16/25 and subject to change without notice. Fees may reduce earnings on the account.
All funds deposited must be New Money. "New Money" is defined as funds not on deposit with Coastal1 Credit Union.
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 Money Market Rate Trends
Compare local Massachusetts money market quotes against the statewide average
Daily money market rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.
Massachusetts high-yield MMA rates fell 0.030 points over the past 7 days to 3.323% APY.
Massachusetts standard MMA rates rose 0.049 points over the past 7 days to 0.492% APY.
Massachusetts Money Market Rate Forecast — Next 12 Months
Money market rates move with Federal Reserve policy. Our model uses the current MA high-yield MMA average and a Fed funds spread to project the likely rate trajectory for 2026–2027.
Money market 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 money market average of 3.323% 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; money market institutions typically pass through 70–90% of rate cuts to deposit rates within 60–90 days. High-yield online money market rates tend to adjust faster than standard branch-based MMA rates, and jumbo-tier rates often adjust first.
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.
Money Market Account Earnings in Massachusetts
Annual interest earnings at current MA average APYs, based on the high-yield and standard money market averages tracked in our database. Balances reflect the higher minimums typical of money market accounts. Compounding assumed monthly.
| Balance | HY Money Market (3.323% APY) | Monthly Earnings | Standard MMA (0.492% APY) | Monthly Earnings |
|---|---|---|---|---|
| $10,000 | $332.28 / year | $27.69 | $49.21 / year | $4.10 |
| $25,000 | $830.70 / year | $69.23 | $123.03 / year | $10.25 |
| $50,000 | $1,661.40 / year | $138.45 | $246.05 / year | $20.50 |
| $100,000 | $3,322.80 / year | $276.90 | $492.10 / year | $41.01 |
| Earnings estimates use daily compounding. Actual earnings depend on exact rate, compounding frequency, rate tier, and daily balance maintained. Rates are variable and subject to change. Source: Massachusetts money market rate averages as of August 29, 2026. | ||||
About Our Massachusetts Money Market Rate Database
MonitorBankRates tracks 53 money market rates from 33 banks and 20 credit unions offering money market deposit 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: Dedham Institution for Savings offers a money market account at 5.00% APY with a minimum deposit of $25. Use the rate table above to compare all current offers in Massachusetts.
How to Find the Best Money Market Rates in Massachusetts
What to compare when shopping for a money market account in Massachusetts
To find the best money market APYs in Massachusetts, start with credit unions and online-only banks — Massachusetts has 20 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, and pay close attention to balance tiers — many money market accounts only pay their advertised top rate above a minimum balance of $1,000–$25,000, with lower rates (or monthly fees) below that threshold. The current MA high-yield money market average is 3.323% — but top local institutions are offering as high as 5.00%, so shopping around pays off.
Unlike a CD, money market rates are variable — your rate can change at any time with Federal Reserve policy. Also check check-writing and debit card limits: most MMAs allow a set number of withdrawals per month, and exceeding the limit can trigger fees. Review your account periodically to ensure your APY remains competitive.
When a Money Market Account Makes Sense
- Emergency fund with flexibility: You get savings-level yields plus limited check-writing and debit access. Massachusetts high-yield money market rates currently average 3.323% APY — far above a typical checking account.
- Larger balances ($10,000+): Many MMAs pay tiered rates that rise with your balance, so bigger deposits often earn more than they would in a standard savings account.
- Parking cash between investments: A high-yield money market account at Massachusetts institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally — 53 institutions in Massachusetts report money market 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 don’t need check writing and want a lower minimum → Massachusetts savings 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 money market average of 3.323%, saving 10% of the local median salary ($5,723/year) would earn an additional $190 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Money Market Accounts vs. Other Massachusetts Options
How money market deposit accounts compare to other deposit products available at banks and credit unions in Massachusetts.
| Feature | Money Market | High-Yield Savings | Standard Savings | CD (12-Month) |
|---|---|---|---|---|
| Current MA Avg APY | 3.323% | View Savings Rates | 0.492%(Standard MMA) | 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 | ✓ Often yes | ✗ No | ✗ No | ✗ No |
| Debit / ATM Card | ✓ Often yes | Some institutions | ✗ Rarely | ✗ No |
| Typical Min Deposit | $0 – $2,500 | $0 – $100 | $25 – $100 | $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 | Active savers wanting flexibility + check writing | Emergency fund, short-term goals, parking cash | Everyday saving, low-balance accounts | Locking in a rate for a defined period |
APY data reflects Massachusetts averages tracked in our database as of August 29, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Massachusetts Money Market Account Calculator
See how much a money market account can earn you. Enter your deposit, monthly contribution, and time frame — or click any current Massachusetts rate on the right to apply it instantly. Interest compounds monthly.
Assumes monthly compounding and a constant APY for the full period. Money market rates are variable and can change at any time, so actual earnings will differ. Estimates are for informational purposes only.
Money Market & Savings Calculators for Massachusetts
At MA’s top money market rate of 5.00% from Dedham Institution for Savings, a $10,000 deposit earns $500 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 3.323% APY in a money market account, saving $1,190/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. Liquid Deposit AccountMassachusetts’s high-yield money market average is 3.323% APY — variable, always accessible, and often with check-writing. 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 3.323% APY.
Retirement PlannerA $25,000 money market balance earning 3.323% APY grows to roughly $48,069 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 money market 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 Money Market Rate Data: We aggregate money market deposit 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 money market 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 mid-sized regional banks to large national institutions available to savers in MA.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update money market rates daily. Because MMA yields can fluctuate rapidly based on market conditions, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Money Market Accounts in Massachusetts
What is a Money Market Account (MMA)?
Are Money Market accounts in Massachusetts safe?
How often do MMA rates change in Massachusetts?
Can I write checks from a Money Market Account?
How much do I need to deposit to open a money market account in Massachusetts?
Can I lose money in a Money Market Account?
What is the difference between a Money Market Account and a Money Market Fund?
Do I have to pay taxes on money market account interest?
Are online banks better than local banks in Massachusetts for money market accounts?
Best Money Market Rates in Massachusetts
- Dedham Institution for Savings
Savings & Money Market Accounts — 5.00% APY - Washington Savings Bank Lowell, MA
High Yield Online Money Market — 4.50% APY - Bank5 Connect
Connect Money Market — 4.00% APY - Liberty Bay Credit Union
Business Money Market — 3.75% APY - Wrentham Co-operative Bank
Premier Money Market — 3.70% APY
Massachusetts Rates & Resources
Cities in Massachusetts
