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Deposit Rates
Savings Rates1
Effective as of 8/1/2025
| 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% | ||
| 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. This 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. Maximum deposit amount of $2,500,000 per household.
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. This 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. Maximum deposit amount of $2,500,000 per household.
Business Savings Rates1
Effective as of 8/1/2025
| 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 8/1/2025
| Account Type | Minimum Daily Balance to earn APY1 | Annual Percentage Yield (APY) 1 | |
|---|---|---|---|
| 3 Month CD or IRA | $1,000.00 | 2.530% | |
| 5 Month CD or IRA2 | $1,000.00 | 4.070% | |
| 6 Month CD or IRA | $1,000.00 | 2.500% | |
| 7 Month CD or IRA3 | $1,000.00 | 4.000% | |
| 9 Month CD or IRA | $1,000.00 | 2.500% | |
| 11 Month CD or IRA4 | $1,000.00 | 3.750% | |
| 12 Month CD or IRA | $1,000.00 | 2.500% | |
| 18 Month CD or IRA | $1,000.00 | 2.000% | |
| 24 Month CD or IRA | $1,000.00 | 2.000% | |
| 30 Month CD or IRA5 | $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.
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.
Business Certificates of Deposit Rates
Effective as of 8/1/2025
| Account Type | Minimum Daily Balance to earn APY1 | Annual Percentage Yield (APY) 1 | |
|---|---|---|---|
| 3 Month CD | $1,000.00 | 2.530% | |
| 5 Month CD2 | $1,000.00 | 4.070% | |
| 6 Month CD | $1,000.00 | 2.500% | |
| 7 Month CD3 | $1,000.00 | 4.000% | |
| 9 Month CD | $1,000.00 | 2.500% | |
| 11 Month CD4 | $1,000.00 | 3.750% | |
| 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 | $1,000.00 | 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.