Locations
Deposit Rates
Checking Rates1
Effective as of 12/22/2024
| Account Type | Minimum Daily Balance to earn APY1 | Annual Percentage Yield (APY) 1 | |
|---|---|---|---|
| Rewards Checking2 (Requirements are met) | $0 - $34,999.99 | 3.250% | |
| $35,000.00+ | 0.010% | ||
| Rewards Checking2 (Requirements NOT met) | $0 | 0.010% |
1APY and rate subject to change without notice. Rate may change after the account is opened. Fees could reduce earnings on account.
23.25% APY as of 12/16/24 is paid on balances up to, and including, $34,999.99 provided all other account requirements are met for the current statement cycle. For balances $35,000.00 and above, the interest rate and APY of 0.01% will be paid on the portion of your daily balance that is $35,000.00 or greater. If requirements are not met, the interest rate of 0.01% with an APY of 0.01% will be paid on balances. The APY will range downward from 3.25% depending on the balance in the account. For example, the APY, for a balance of $70,000.00 would be 1.63%. Rates may change at any time without prior notice. Requirements for each statement cycle are: Sign-up and receive a monthly eStatement each month. Receive at least one direct deposit per statement cycle with a minimum monthly total ≥$1000, at least 15 debit card purchases posted per statement cycle (excluding ATM transactions). Eligible clients aged 65+ may qualify for a lower combined direct deposit requirement of $500 per statement cycle. If requirements are met, South Shore Bank will refund up to $10 per statement cycle for another bank's ATM surcharges & will not charge a foreign ATM fee for using another bank's ATM. Account requirements will be waived for the first statement cycle. Offer may be withdrawn at any time. One account per tax reporting owner. A statement cycle ends the last business day of a calendar month.
23.25% APY as of 12/16/24 is paid on balances up to, and including, $34,999.99 provided all other account requirements are met for the current statement cycle. For balances $35,000.00 and above, the interest rate and APY of 0.01% will be paid on the portion of your daily balance that is $35,000.00 or greater. If requirements are not met, the interest rate of 0.01% with an APY of 0.01% will be paid on balances. The APY will range downward from 3.25% depending on the balance in the account. For example, the APY, for a balance of $70,000.00 would be 1.63%. Rates may change at any time without prior notice. Requirements for each statement cycle are: Sign-up and receive a monthly eStatement each month. Receive at least one direct deposit per statement cycle with a minimum monthly total ≥$1000, at least 15 debit card purchases posted per statement cycle (excluding ATM transactions). Eligible clients aged 65+ may qualify for a lower combined direct deposit requirement of $500 per statement cycle. If requirements are met, South Shore Bank will refund up to $10 per statement cycle for another bank's ATM surcharges & will not charge a foreign ATM fee for using another bank's ATM. Account requirements will be waived for the first statement cycle. Offer may be withdrawn at any time. One account per tax reporting owner. A statement cycle ends the last business day of a calendar month.
Savings Rates1
Effective as of 12/22/2024
| 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.
Business Savings Rates1
Effective as of 12/22/2024
| Type | Minimum Daily Balance to earn APY1 | Annual Percentage Yield (APY) 1 | |
|---|---|---|---|
| Business Savings | $2,000.00 | 0.010% | |
| Business Money Market | $1,000.00 | 0.200% | |
| $5,000.00 | 2.000% | ||
| $50,000.00 | 2.000% | ||
| $100,000.00 | 2.000% | ||
| $250,000.00 | 2.000% |
1Annual 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 consult a Personal Banking Manager for information about fees and terms for these accounts.
Certificates of Deposit Rates
Effective as of 12/22/2024
| Account Type | Minimum Daily Balance to earn APY1 | Annual Percentage Yield (APY) 1 | apply now button | |
|---|---|---|---|---|
| 5 Month CD or IRA3 | $1,000.00 | 4.500% | ||
| 6 Month CD or IRA | $1,000.00 | 2.500% | Open Online | |
| 7 Month CD or IRA4 | $1,000.00 | 4.250% | Open Online | |
| 9 Month CD or IRA | $1,000.00 | 2.500% | Open Online | |
| 11 Month CD or IRA5 | $1,000.00 | 4.000% | Open Online | |
| 12 Month CD or IRA | $1,000.00 | 2.500% | Open Online | |
| 14 Month Rewards CD2 | $1,000.00 | 4.000% | ||
| 18 Month CD or IRA | $1,000.00 | 2.000% | ||
| 24 Month CD or IRA | $1,000.00 | 2.000% | ||
| 30 Month CD or IRA6 | $1,000.00 | 3.250% | ||
| 36 Month CD or IRA | $1,000.00 | 2.000% | ||
| 48 Month CD or IRA | $1,000.00 | 2.000% | ||
| 60 Month CD or IRA | $1,000.00 | 2.000% |
1Annual Percentage Yield (APY) and rate subject to change. Please contact 781.682.3715 for current rate information. A penalty will be imposed for early withdrawal from a certificate account.
2Personal clients only. Must already have or open a Rewards Checking account to open this certificate of deposit. Must meet all requirements of the Rewards Checking account for the prior statement cycle to earn the advertised APY. (The 14-month Rewards CD will revert to a rate of 0.500% APY if the Rewards Checking Account requirements are not met. Account requirements will be waived for the first statement cycle). At maturity, the 14-month Rewards CD will roll into a 14-month Rewards CD. Offer may be withdrawn at any time.
3At maturity, the 5-month CD will roll into a standard 6-month CD.
4At maturity, the 7-month CD will roll into a standard 6-month CD
5At maturity, the 11-month CD will roll into a standard 12-month CD.
6At maturity, the 30-month CD will roll into a standard 24-month CD
2Personal clients only. Must already have or open a Rewards Checking account to open this certificate of deposit. Must meet all requirements of the Rewards Checking account for the prior statement cycle to earn the advertised APY. (The 14-month Rewards CD will revert to a rate of 0.500% APY if the Rewards Checking Account requirements are not met. Account requirements will be waived for the first statement cycle). At maturity, the 14-month Rewards CD will roll into a 14-month Rewards CD. Offer may be withdrawn at any time.
3At maturity, the 5-month CD will roll into a standard 6-month CD.
4At maturity, the 7-month CD will roll into a standard 6-month CD
5At maturity, the 11-month CD will roll into a standard 12-month CD.
6At maturity, the 30-month CD will roll into a standard 24-month CD
Business Certificates of Deposit Rates
Effective as of 12/22/2024
| Account Type | Minimum Daily Balance to earn APY1 | Annual Percentage Yield (APY) 1 | |
|---|---|---|---|
| 5 Month CD2 | $1,000.00 | 4.500% | |
| 6 Month CD | $1,000.00 | 2.500% | |
| 7 Month CD3 | $1,000.00 | 4.250% | |
| 9 Month CD | $1,000.00 | 2.500% | |
| 11 Month CD4 | $1,000.00 | 4.000% | |
| 12 Month CD | $1,000.00 | 2.500% | |
| 18 Month CD | $1,000.00 | 2.000% | |
| 24 Month CD | $1,000.00 | 2.000% | |
| 30 Month CD5 | $1,000 | 3.250% | |
| 36 Month CD | $1,000.00 | 2.000% | |
| 48 Month CD | $1,000.00 | 2.000% | |
| 60 Month CD | $1,000.00 | 2.000% |
1Annual Percentage Yield (APY) and rate subject to change. Please contact 781.682.3715 for current rate information. A penalty will be imposed for early withdrawal from a certificate account.
2At maturity, the 5-month CD will roll into a standard 6-month CD.
3At maturity, the 7-month CD will roll into a standard 6-month CD
4At maturity, the 11-month CD will roll into a standard 12-month CD.
5At maturity, the 30-month CD will roll into a standard 24-month CD
2At maturity, the 5-month CD will roll into a standard 6-month CD.
3At maturity, the 7-month CD will roll into a standard 6-month CD
4At maturity, the 11-month CD will roll into a standard 12-month CD.
5At maturity, the 30-month CD will roll into a standard 24-month CD