Rates
If you’re looking for rates, you’ve come to the right place. We work hard to offer the best rates in the market, so you can know your money’s working as hard as it can, too.
Checking Accounts
The following rates are effective December 30, 2024. Rates are subject to change without notice.
| Account Name | Minimum Daily Balance to Earn APY | Balance Tier | APY* |
|---|---|---|---|
| Interest Rewards Checking1 | $10,000 | $10,000+ | 0.05% |
| Interest Rewards Checking1 | $10 | $10 – $9,999 | 1.00% |
| Check Rewards Checking2 | $10,000 | $10,000+ | 0.05% |
| Check Rewards Checking2 | $10 | $10 – $9,999 | 0.05% |
* APY = Annual Percentage Yield
1Minimum deposit of $50 required to open account. Personal accounts only. One account per client. To receive interest and rewards, you must complete the following each qualification cycle: receive online statements, make 12+ posted and cleared debit card purchases, and have at least 1 posted and cleared direct deposit or ACH (Automated Clearing House) auto debit. A qualification cycle means a period beginning 2 days prior to the last statement cycle through 3 days prior to the current statement cycle. ATM rebates applied at end of monthly statement cycle; up to $25 for qualified accounts. If you do not meet the requirements per qualification cycle, your account will earn the lowest tier APY. Fees may reduce earnings. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount. 2Minimum deposit of $100 required to open account. Personal accounts only. Free standard checks or $10 credit toward custom check order. $20 monthly service fee waived with $10,000+ monthly combined deposit balances. Fees may reduce earnings on account. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount.
Savings & Money Market Accounts
The following rates are effective December 30, 2024. Rates are subject to change without notice.
| Account name | Minimum Daily Balance to earn apy | balance tier | APY* | |
|---|---|---|---|---|
| Start Up Savings1 | $1,000+ | $1,000+ | 0.05% | Open an Account |
| Start Up Savings1 | >$0 | $0 – $1,000 | 5.00% | Open an Account |
| Passbook Savings2 | $10 | $10+ | 0.05% | |
| Statement Savings3 | $10 | $10+ | 0.05% | Open an Account |
| Premium Money Market Account4 | $100,000 | $100,000 – $2,000,0000 | 3.00% | Open an Account |
| Premium Money Market Account4 | $10 | $10 – $99,999 | 0.05% | Open an Account |
| Preferred Money Market Account4 | $10,000 | $10,000 – $2,000,0000 | 0.50% | Open an Account |
| Preferred Money Market Account4 | $10 | $10 – $9,999 | 0.05% | Open an Account |
| Money Market Account5 | $10 | $10+ | 0.05% | Open an Account |
* APY = Annual Percentage Yield
1Minimum deposit of $25 required to open account. Must be opened with funds not currently on deposit at Dedham Savings. Rates guaranteed until 12/31/24, and subject to change thereafter. Online statements required within 30 days of account opening, or account will revert to standard Statement Savings account. One account per client. Limited time offer. Fees may reduce earnings. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount. 2Minimum deposit of $10 required to open account. Fees may reduce earnings. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount. 3Minimum deposit of $10 required to open account. Fees may reduce earnings. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount. 4Minimum deposit of $10 required to open account. Maximum deposit of $2,000,000. Offer available for funds not currently on deposit at Dedham Savings. Limited time offer. Fees may reduce earnings. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount. 5Minimum deposit of $10 required to open account. $5 monthly fee will be assessed if average daily balance drops below $1,000. Fees may reduce earnings.
CDs / IRAs
The following rates are effective December 30, 2024. Rates are subject to change without notice.
| account name | MINIMUM DAILY BALANCE TO EARN APY | APY* | |
|---|---|---|---|
| 91 Day | $1,000 CD/$100 IRA | 0.50% | Open an Account at Any Location |
| 182 Day | $1,000 CD/$100 IRA | 1.00% | Open an Account at Any Location |
| 7 Month Special | $1,000 CD/$100 IRA | 4.25% | Open an Account Online |
| 12 Month | $1,000 CD/$100 IRA | 3.75% | Open an Account at Any Location |
| 15 Month Special | $1,000 CD/$100 IRA | 3.75% | Open an Account Online |
| 18 Month | $1,000 CD/$100 IRA | 3.51% | Open an Account at Any Location |
| 24 Month | $1,000 CD/$100 IRA | 3.51% | Open an Account at Any Location |
| 30 Month | $1,000 CD/$100 IRA | 3.00% | Open an Account at Any Location |
| 36 Month | $1,000 CD/$100 IRA | 3.00% | Open an Account at Any Location |
| 48 Month | $1,000 CD/$100 IRA | 3.00% | Open an Account at Any Location |
| 60 Month | $1,000 CD/$100 IRA | 3.00% | Open an Account at Any Location |
* APY = Annual Percentage Yield
APY assumes the interest remains on deposit for the term of the time deposit. Minimum balance to open account and earn stated APY is $1,000 CD/$100 IRA. A penalty may be imposed for early withdrawal. Fees and/or penalties may reduce earnings. Limited time offer. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount.
NOTE: CD Passbooks must be returned to the Bank in order to close the CD or roll the CD into a new account.
Consumer Loans
The following rates are effective December 30, 2024. Please note that rates are subject to change without notice.
| Loan Type | Max. Amount | Max. Term | APR* |
|---|---|---|---|
| Home Improvement | $25,000 | 84 Months | 9.75% |
* APR = Annual Percentage Rate
All loans subject to credit approval. Home Improvement Loan: Estimated cost per $1,000 calculated on maximum term available. 9.75% APR for 84 monthly payments of $16.47 per $1,000 borrowed.