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 14, 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 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, Lowell Firefighters Credit UnionLowell Firefighters Credit Union642 Chelmsford St, Lowell, MA 01851A+5.0 ★Texas Ratio: 0.41%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: 3.37%Real return: +2.20%APY minus 2.8% CPI (February 2026) SaveUp Companion Savings at 5.00% APY, and 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.
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 14, 2026
Compare the Best Savings Rates in Massachusetts
Tier 1; Balance: $0.00 - $10,000.00; for service members deployed in combat zones; contact us to determine eligibility; direct deposit of net pay required; withdrawals not permitted
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
APY paid on the balance up to the first $500.00; dividend rate of 0.25% paid on the remaining balance over $500.00
Balance: $.01-$9,999.99; Qualifying balance up to $9,999.99; Requires linked checking account with debit card enrolled in SaveUp program; Permits only SaveUp deposits; Minimum daily balance to avoid monthly maintenance fees: $0
Qualifying balances of $250,000 or less only; Balance: $250,000 or less; Monthly Service Charge:
- Sep 24, 20265.00%▲ from 4.75%
- Sep 18, 20264.75%first recorded
Balance: $0 - $1,000; Qualifying balance up to $1,000.00; Minimum Daily Balance to earn APY: >$0
Qualifying balance up to $1000.00; Monthly Fee $0.00
Balance: $0.00 - $500; Dividends paid on daily balances up to $500; variable APY of 5.00%
Qualifying balance up to $2,000.00
Balance: $25.01 - $500.00; Max. balance up to $500.00; Funds over $500.00 revert to the current regular share dividend rate
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
Boosted APY = 3.80% standard variable APY + 0.35% 6-month APY Boost for new customers; boost expires after 6 months and reverts to standard variable APY; open by 11/03/26; limited-time offer, new Openbank customers only
No monthly fees; no minimum balance requirements; no monthly maintenance service charge; receives ZYNG Round Up & Match transfers from More Spending Account
Balance: $100,000.00 and over
Balance: $0-$20,000; Open Online
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
Balance: $2,500.00 - $1,000,000.00; Tiered variable rate account; Market-Leading Rates; No monthly fees; Interest compounded daily
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
Balance: $0.00 - $100,000.00
Balance: $10.00 - $9,999.99; Tier 1; Preauthorized weekly or monthly transfer from SCU Checking required; Unlimited withdrawals only when made in person
- Oct 10, 20264.00%▲ from 3.75%
- Sep 18, 20263.75%first recorded
Footnote ** on product name; see page disclosures
Balance: $250,000+
Balance: $20,000 or greater; Minimum opening deposit must be new money to the Bank; Statement only; Interest paid and compounded monthly
Standard variable APY; variable-rate account, subject to change at Openbank's discretion without notice; Personal accounts only
- Oct 6, 20263.80%▼ from 4.15%
- Sep 27, 20264.15%first recorded
Balance: >= $5,000
- Oct 14, 20263.75%▲ from 0.25%
- Sep 24, 20260.25%first recorded
Featured homepage rate; No monthly maintenance fee; Must deposit at least $5,000 to open and maintain $25 to earn the disclosed APY; APY is variable and accurate as of 10/13/2026
Balance: $500,000.01 and over
Published APY range: 3.75% - 2.75%. Balance: $10,000.00 - $49,999.99; Tier 2; Preauthorized weekly or monthly transfer from SCU Checking required; Unlimited withdrawals only when made in person
Balance: $0.01-$1,000,000; Minimum deposit to open $10; Online Only; Eligibility limited to consumers who apply online and have no existing Salem Five checking or savings account; Rate may change after account opening
- Oct 2, 20263.66%▲ from 3.51%
- Sep 27, 20263.51%first recorded
Rate may change after account is opened. Fees may reduce earnings.
No minimum balance; Refer-a-friend promotion adds 1.00% APY for 3 months; Maximum balance limits apply
- Sep 18, 20263.50%▲ from 3.40%
- Sep 14, 20263.40%first recorded
Balance: Balances $100,000 -$500,000 (plus interest paid); Maximum balance allowed is $500,000 plus interest paid; Opened online only; New money only; Limited to consumers; one account per primary owner
Available to new consumer deposit customers only; APY will not drop below 2.50% (2.47% rate) before July 4, 2027 for accounts maintaining the $5,000 daily minimum balance; Daily balances of $4,999.99 and below earn 1.00% APY (1.00% rate); After July 4, 2027, account reverts to the then current High Yield Savings rate; Daily Balance to Obtain APY: $5,000.00
- Sep 19, 20263.50%▲ from 3.25%
- Sep 7, 20263.25%first recorded
Balance: $100,000 - $249,999.99
Balance up to $4,999,999.99; New money only; personal accounts only
Monthly Fee $0.00
Balance: $0.00 - $25,000.00; Tier 1; Relationship APY requires qualifying direct deposit into checking
Balance: $50,000+; New money only; APY assumes paired Direct Advantage Checking (without it, APY 0.10% lower)
Balance: $9,999.01 to $9,999,999.00; minimum balance to open and earn stated APY is $10,000 of new money not already on deposit with Liberty Bay
- 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; Minimum Daily Balance to earn APY: $20,000; Must be opened with a minimum of $20,000 in new funds not currently on deposit at Dedham Savings; Rate may change after account is opened; Personal accounts only
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: $25,000 or more; Rates for New Savings Customers; Earn 3.25% APY as a new Wells Fargo savings customer; California Bay Area counties branches only
- Oct 14, 20263.25%▲ from 0.05%
- Oct 7, 20260.05%▲ from 0.01%
- Sep 14, 20260.01%first recorded
Balance: Below $100,000.01
Qualifications Required; Balance: Below $100,000.01
Balance: $100,000.01 - $250,000.00
Balance tier: $200,000 and over; Requires enrollment in online and mobile banking and eStatements
Requires Beacon Bank checking account with ownership relationship; Minimum balance to obtain disclosed APY is $10; Variable rate
Variable premium rate subject to change without notice; ATM access; no check writing
***The High-Yield Savings account requires a minimum deposit of $10.00 to open. The qualifying rate of 3.20% APY (3.15% interest rate) is earned on balances of $10.00 or more. Balances below $10.00 will earn the Base Rate of 0.05% APY (0.05% interest rate).
Balance tier: $150,000 and over; Requires enrollment in online and mobile banking and eStatements
Balance tier: $100,000 and over; Requires enrollment in online and mobile banking and eStatements
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: $50,000.00 and over; Free eStatements ($10/month for paper statements); No early withdrawal penalties; Rates effective 9/15/26
Balance: Bal. >= $10.00
Balance: $500,000.01 and above; (2)
- Oct 3, 20263.00%▲ from 2.75%
- Sep 24, 20262.75%first recorded
Balance: $100,000 - $249,999.99
Monthly Fee $0.00
Balance: $0-$100,000.00
- Oct 10, 20263.00%▲ from 2.90%
- Sep 14, 20262.90%first recorded
Share Accounts table; Minimum Opening Balance of $10; Minimum Balance to Earn APY is $10
Share Accounts table; Minimum Opening Balance of $10; Minimum Balance to Earn APY is $10
Share Accounts table; Minimum Opening Balance of $10; Minimum Balance to Earn APY is $10
Balance: $50,000 and above
Balance: $0.01 - $4,999.99; Variable APY, subject to change without notice
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 0.228 points over the past 7 days to 2.318% APY, up from 2.091%.
Massachusetts standard savings rates fell 0.005 points over the past 7 days to 0.468% APY, down from 0.473%.
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 2.318% 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 (2.318% APY) | Monthly Earnings | Standard Savings (0.468% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $115.91 / year | $9.66 | $23.42 / year | $1.95 |
| $10,000 | $231.83 / year | $19.32 | $46.84 / year | $3.90 |
| $25,000 | $579.57 / year | $48.30 | $117.10 / year | $9.76 |
| $50,000 | $1,159.15 / year | $96.60 | $234.20 / year | $19.52 |
| 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 14, 2026. | ||||
About Our Massachusetts Savings Rate Database
MonitorBankRates tracks 515 savings rates from 29 banks and 19 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 19 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 2.318% 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 2.318% 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: 48 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 2.318%, saving 10% of the local median salary ($5,723/year) would earn an additional $133 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 | 2.318% | 0.468% | 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 14, 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 2.318% 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 2.318% 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 2.318% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 2.318% APY grows to roughly $39,537 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 - 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 - Leader Bank
Zeugma Plus Savings: 5.00% APY
Massachusetts Rates & Resources
Cities in Massachusetts
