Overview / Commentary
508-890-9000
28 Franklin Street
Worcester, MA 01608

Bay State Savings Bank is headquartered in Worcester and is the 84th largest bank in the state of Massachusetts. It is also the 1,682nd largest bank in the nation. It was established in 1895 and as of December of 2018, it had grown to 71 employees at 7 locations. Bay State Savings Bank's money market rates are 5X the national average, and it has a B+ health rating.

Related Posts

Bay State Savings Has Nationally Available Money Market - 12/14/2018

Bay State Savings Bank has added a nationally available Smile Worcester County Consumer Money Market (2.35% APY). Minimum opening deposit is $5k of new money.

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Reviews (4)

Mortgage Department .....Mark Sanguinetti

In general, I find loan originators and loan officers have "can't do" attitudes and are far too cautious and require hours of chasing paper work. After some attempts to refinance my mortgage on my home and getting no where, I finally spoke with Mark Sanguinetti at Bay State Bank in Worcester, MA. We had conversation before I started the paper work and came up with an understanding of what was expected of me. His words were upheld with no " I need one more thing" routine. He is a man of his word with no nonsense. You can find him at 1-800-244-8161 and is readily available to contact without first going to voice mail.
I give Mark five stars.

Smile Worcester County Commercial Money Market

Posted by: El_Ryno | Jan 29, 2019

Unfortunately I called and tried to open a Smile Worcester County Commercial Money Market, but the bank requires business customers to open the account in-person at a bank branch. As I live out of state it's not a feasible option for me to visit a local bank branch :-\

Consumer accounts can be opened online however.

False Advertising

Posted by: Larndt | Dec 31, 2018

"we take banking personally" is their motto and it is a lie. This bank is as greedy as the rest, but pretends not to be. Mediocre customer service by phone. Mediocre service on location. Their lines don't always work correctly by phone leaving you unable to contact them during business hours. In person, they ignore the personal touch that they claim they have. If you're going to hand over your money to a greedy establishment, I suggest bringing it to a bank that doesn't pretend to care about you. At least you know you're screwed before it's too late. Bay State let's your guard down, then steals money. Do not open an account there. Maybe they do loans alright, but I wouldn't know and I won't find out. Pathetic bank.

48 Month CD Capped At 10K

Posted by: HollyHolly | Sep 7, 2016

Tried to open acct on line at Bay State Saving Bank and something popped up that I could not open that CD for more than $10K. Nowhere on their web site did they reveal this in advance



Health
B+

Health Grade Components

Overall
FDIC Certificate #90311
Year Established1895
Employees71
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.36%
Return on Equity - YTD4%
Annual Interest Income$16.2MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$418.1MM$397.0MM
LoansQ4 2018vs Q4 2017$368.7MM$343.5MM
DepositsQ4 2018vs Q4 2017$328.9MM$305.3MM
Equity CapitalQ4 2018vs Q4 2017$37.7MM$36.7MM
Loan Loss AllowanceQ4 2018vs Q4 2017$4.8MM$4.4MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$3.1MM$2.4MM
Real Estate OwnedQ4 2018vs Q4 2017$395.00K$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Bay State Savings Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Bay State Savings Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%-$50kKasasa Saver
0.30%*$75k*$250kGold Rewards Savings Account
OTHER TIERS: 0.10% Any amount | 0.20% $25k - $75k
0.15%--Basic Savings Account
0.15%--Smart Saver Account
0.15%--Holiday Club
0.15%--Statement Savings Account

Bay State Savings Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.35%--Smile Worcester County Consumer Money Market
2.35%--Smile Worcester County Commercial Money Market
1.25%*$250k*-Commercial Money Market Savings
OTHER TIERS: 0.30% Up to $25k | 0.40% $25k - $125k | 0.75% $125k - $250k
1.15%*$500*-Minuteman Money Manager
OTHER TIERS: 0.10% Up to $500

Bay State Savings Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.01%*-$20kKasasa Cash
OTHER TIERS: 0.25% $20k+
0.10%--IOLTA Checking

Bay State Savings Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.30%$1k-27 Month CD Special
2.15%$1k-48 Month CD Special
2.00%$1k-7 Month CD Special
1.75%$1k-18 Month CD Special
1.50%$1k-12 Month CD
1.40%$1k-60 Month CD
0.90%$1k-36 Month CD
0.70%$1k-24 Month CD
0.25%$1k-6 Month CD
0.20%$5k-3 Month CD

Bay State Savings Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.30%$500-27 Month IRA Special
2.15%$500-48 Month IRA Special
1.75%$500-18 Month IRA Special
1.50%$500-12 Month IRA
1.40%$500-60 Month IRA
0.90%$500-36 Month IRA
0.70%$500-24 Month IRA
0.25%$500-6 Month IRA
0.20%$500-3 Month IRA
Locations


Bay State Savings Bank Locations
Minuteman Plaza Branch123 Auburn StreetAuburn, MA 01501
Mill Street Branch275 Mill StreetWorcester, MA 01602
Bay State Savings Bank28 Franklin StreetWorcester, MA 01608
Burncoat Street Branch374-378 Burncoat StreetWorcester, MA 01606
Holden Branch628 Main StreetHolden, MA 01520
Grafton Street Branch799 Grafton StreeetWorcester, MA 01608
Auburn High School Branch99 Auburn StreetAuburn, MA 01501

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