Overview / Commentary
67 Prospect Street
Peabody, MA 01960

East Boston Savings Bank is headquartered in Boston and is the 6th largest bank in the state of Massachusetts. It is also the 195th largest bank in the nation. It was established in 1991 and as of September of 2018, it had grown to 506 employees at 35 locations. East Boston Savings Bank's savings rates are 5X the national average, and it boasts an A+ health rating.

Related Posts

East Boston Savings Bank Brings Back High-Yield Savings - 11/9/2018

East Boston Savings Bank (MA) has brought back the High-Yield Statement Savings (2.50% APY, $5k min), but has limited its availability to in-branch opening.

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Reviews (3)

A Pretty Good Bank!

So this bank offers a multitude of different types of accounts. I first started banking with them when one of my old managers started to work for them and they have a variety of locations within my city. Every branch I've been to has had very nice and pleasant customer service! As far as rates go on savings accounts, if you don't have a bunch of liquid cash available to you then they're pretty much the same as everyone else, but if you have a bunch of liquid cash then their offers are competitive.

If you need a basic checking account with no fees and nothing crazy to sign up and maintain it (like minimum deposits, etc etc) then they're wonderful!

Watching Out For Lower Rates On The MM Special

Posted by: RZ | Jun 11, 2017

I opened the Special MM3 account in Feb. 2017 primarily for the favorable rate of 1.25% and that amounts over $250K were also insured, Unfortunately the rate has decreased serially to 1.21% and currently 1.17%. Interest is compounded and credited monthly so there is risk of losing accrued interest if the account is closed mid cycle, I will keep a close eye on this since they are presently only paying a rate of .73% on their regular MM.

Terrible East Boston Savings Bank

Posted by: igoosh | Nov 29, 2018

Terrible little shady "bank" - stole my $25, penalizing me for closing the account. They claim I closed it before 180 days of opening the account and it was in the disclosure - must be in fine print on page 45 or something. Rep. Taylor from Milton office had no decision making abilities and Christina, AVP of Customer Service was not willing to refund $25 back to me, the fee for closing the account. VERY CONFRONTATIONAL BANK doing shady business, in my personal opinion.


Health Grade Components

FDIC Certificate #33510
Year Established1991
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.05%
Return on Equity - YTD10.45%
Annual Interest Income$166.6MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$5.75B$5.01B
LoansQ3 2018vs Q3 2017$5.23B$4.51B
DepositsQ3 2018vs Q3 2017$4.47B$3.99B
Equity CapitalQ3 2018vs Q3 2017$580.5MM$506.5MM
Loan Loss AllowanceQ3 2018vs Q3 2017$49.6MM$45.6MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$7.2MM$8.2MM
Real Estate OwnedQ3 2018vs Q3 2017$0$1.7MM
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Always verify rates and promotions with the bank or credit union. We are not East Boston 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.

East Boston Savings Bank Savings Account Rates

2.50%*$5k*$1mHigh Yield Statement Savings Special - New Money
OTHER TIERS: 0.25% $1m+
0.92%*$100k*-Business Investment Sweep
OTHER TIERS: 0.10% Up to $10k | 0.25% $10k - $50k | 0.43% $50k - $100k
0.10%$25-Statement Savings
0.10%$25-Business Statement Savings

East Boston Savings Bank Money Market Rates

1.57%*$10k*$2mMoney Market Special
OTHER TIERS: 0.50% $10 - $10k | 0.80% $2m+
0.92%*$1m*-Business Money Market Account
OTHER TIERS: 0.10% $10 - $2.5k | 0.15% $2.5k - $25k | 0.20% $25k - $50k | 0.30% $50k - $100k | 0.43% $100k - $250k | 0.73% $250k - $1m
0.25%$25-Retirement Money Market Savings

East Boston Savings Bank Checking Account Rates

1.25%*-$25kPremier Checking
OTHER TIERS: 0.10% $25k+
0.10%--Business Premier Checking
0.10%--Business Premier Checking w/Cash Management
0.05%$10-Business Interest Checking
0.05%$10-Interest Checking
0.05%$25-Business Escrow Sub Checking

East Boston Savings Bank CD Rates

2.50%$1k-15 Month CD
2.50%$1k-Business 15 Month CD
2.21%$1k-30 Month CD
2.21%$1k-Business 30 Month CD
2.20%$1k-14 Month CD Special
2.20%$1k-Business 14 Month CD Special
2.15%$1k-60 Month CD
2.15%$1k-Business 60 Month CD
1.61%$1k-19 Month CD
1.56%$1k-16 Month CD
1.56%$1k-Business 16 Month CD
1.41%$1k-25 Month Bump Up CD
1.26%$1k-13 Month CD Special
1.26%$1k-Business 13 Month CD
1.25%$1k-48 Month CD
1.25%$1k-Business 48 Month CD
1.00%$1k-36 Month CD
1.00%$1k-Business 36 Month CD
0.65%$1k-24 Month CD
0.65%$1k-Business 24 Month CD
0.50%$1k-18 Month CD
0.50%$1k-Business 18 Month CD
0.45%$1k-12 Month CD
0.45%$1k-Business 12 Month CD
0.40%$1k-9 Month CD
0.40%$1k-Business 9 Month CD
0.30%$2.5k-6 Month CD
0.30%$2.5k-Business 6 Month CD

East Boston Savings Bank IRA Rates

2.50%$500-15 Month IRA
2.21%$500-30 Month IRA
2.20%$500-14 Month IRA Special
2.15%$500-60 Month IRA
1.61%$500-19 Month IRA
1.56%$500-16 Month IRA
1.41%$500-25 Month Bump Up IRA
1.26%$500-13 Month IRA Special
1.25%$500-48 Month IRA
1.00%$500-36 Month IRA
0.65%$500-24 Month IRA
0.50%$500-18 Month IRA
0.45%$500-12 Month IRA
0.40%$500-9 Month IRA
0.30%$500-6 Month IRA


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