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Savings
Saving can be tricky, but with a little help from us at South Shore Bank, you can reach your financial goals faster and easier than ever before! Choose from any one of our great savings and money market options, and tell us about your budget goals! We'll help you get closer to your future financial goals right away.
Compare Our Savings Accounts
Effective as of 12/21/2024
| Account Type1 | Minimum Daily Balance to earn APY2 | Annual Percentage Yield (APY) 2 | |
|---|---|---|---|
| Free Savings | $0 | 0.010% | |
| High Yield Savings | $0 - < $10,000 | 0.010% | |
| $10,000 - < $2,500,000 | 3.500%* | ||
| $2,500,000+ | 0.010% | ||
| Rewards Savings (When requirements are met3) | $0 | 3.500% | |
| Rewards Savings (When requirements are not met3) | $0 | 0.010% | |
| High Yield Money Market | $0 - < $2,500 | 0.010% | |
| $2,500 - < $25,000 | 1.000% | ||
| $25,000 - < $50,000 | 2.000% | ||
| $50,000 - < $100,000 | 2.000% | ||
| $100,000 - < $1,000,000 | 2.000% | ||
| $1,000,000+ | 2.000% | ||
| IRA Savings | $0 | 0.050% |
1$10 minimum deposit to open. Rates may change at any time without prior notice. Certain products are available to open online. Products that are not available to open online can be opened in any of our branches.
2Annual Percentage Yield (APY) and rate subject to change without notice. Rate may change after the account is opened. Fees could reduce earnings on account. Please contact our Client Information Center for information about fees and terms for these accounts.
3Must already have or open a Rewards Checking Account. 3.500% Annual Percentage Yield (APY) as of 6/1/23 is paid on balances provided all account requirements of your corresponding Rewards Checking Account are met for the prior month. For example, in order to receive the higher APY on your Rewards Savings Account in February (current month) you must have met the requirements of your Rewards Checking Account in January (prior month). Please refer to your Rewards Checking Account disclosure for monthly requirements. If requirements are not met, the interest rate on your account is 0.01% with an Annual Percentage Yield (APY) of 0.01%.
*Must be opened with a minimum of $10,000 in new funds not already on deposit with South Shore Bank. 3.50% APY as of 11/21/24 is the preferred interest rate on your account is based on a minimum balance of $10,000.00 up to $2,500,000. For balances under $10,000.00 or over $2,500,000 the interest rate of 0.01% with an APY of 0.01% will be paid on the entire balance.
2Annual Percentage Yield (APY) and rate subject to change without notice. Rate may change after the account is opened. Fees could reduce earnings on account. Please contact our Client Information Center for information about fees and terms for these accounts.
3Must already have or open a Rewards Checking Account. 3.500% Annual Percentage Yield (APY) as of 6/1/23 is paid on balances provided all account requirements of your corresponding Rewards Checking Account are met for the prior month. For example, in order to receive the higher APY on your Rewards Savings Account in February (current month) you must have met the requirements of your Rewards Checking Account in January (prior month). Please refer to your Rewards Checking Account disclosure for monthly requirements. If requirements are not met, the interest rate on your account is 0.01% with an Annual Percentage Yield (APY) of 0.01%.
*Must be opened with a minimum of $10,000 in new funds not already on deposit with South Shore Bank. 3.50% APY as of 11/21/24 is the preferred interest rate on your account is based on a minimum balance of $10,000.00 up to $2,500,000. For balances under $10,000.00 or over $2,500,000 the interest rate of 0.01% with an APY of 0.01% will be paid on the entire balance.