Institution for Savings


Overview / Commentary
978-462-3106
93 State Street
Newburyport, MA 01950

With just $465.10 in deposits collected on its first day of existence, the Institution for Savings was established in 1820 in Newburyport, MA. At that time, it was just the third savings bank in the Commonwealth of Massachusetts.

Today, the Institution for Savings provides its personal and commercial banking customers a wide range of depository banking products. These include, for the bank’s personal customers, checking accounts, savings accounts, money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs). The Institution for Savings offers both interest and non-interest bearing checking accounts, including accounts specifically for minors, college students, and senior citizens. The bank’s savings and money market account options offer higher interest rates for larger account balances, and, as a relationship banking perk, its relationship money market accounts yield even better dividends when combined with a CD or savings account with a large account balance.

Speaking of CDs, terms range from 3 to 60 months and certificate funds can be used as collateral for passbook loans. As for IRAs, the Institution for Savings offers Traditional, Roth, Coverdell Education, and Simplified Employee Pension (SEP) IRA products.

For its business banking customers, the Institution for Savings provides deposit accounts including business checking accounts, business savings accounts, and business money market accounts. Business checking accounts can be combined with a “sweep” account, in which excess account funds are transferred daily to a repurchase account with higher interest rates. Just like the personal accounts, business savings and money market accounts offer higher rates for larger account balances, and business money market accounts offer the relationship banking benefit of better dividends when combined with a CD or savings account with a large balance.

In addition to these deposit products, the Institution for Savings also provides both residential and commercial loans. Customers also have access to online banking, mobile banking, bill pay, and electronic statements.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #90250
Year Established1820
Employees187
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-0.65%
Return on Equity - YTD-5.67%
Annual Interest Income$50.3MM
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$5.33B$5.09B
LoansQ1 2025vs Q1 2024$4.08B$4B
DepositsQ1 2025vs Q1 2024$3.32B$3.13B
Equity CapitalQ1 2025vs Q1 2024$609.3MM$588.2MM
Loan Loss AllowanceQ1 2025vs Q1 2024$14.1MM$14.2MM
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$733K$537K
Real Estate OwnedQ1 2025vs Q1 2024$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Institution for Savings Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.50%*$100k*$500kGold Savings - New Money
OTHER TIERS: 0.50% $1 - $100k
1.80%*$25k*-Diamond Savings
OTHER TIERS: 0.25% $1 - $25k
1.80%*$25k*-Business Diamond Savings
OTHER TIERS: 0.25% $1 - $25k
0.50%*$10k*-Titanium Savings
OTHER TIERS: 0.25% $1 - $10k
0.50%*$10k*-Business Titanium Savings
OTHER TIERS: 0.25% $1 - $10k
0.40%*$50k*-Preferred Savings Account
OTHER TIERS: 0.25% $1 - $50k
0.40%*$50k*-Business Preferred Savings Account
OTHER TIERS: 0.25% $1 - $50k
0.25%$1-Statement Savings
0.25%$1-Business Statement Savings

Institution for Savings Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.25%*$2m*$4mSapphire Money Market
OTHER TIERS: 1.50% $1 - $2m
3.25%*$2m*$4mBusiness Sapphire Money Market
OTHER TIERS: 1.50% $1 - $2m
3.00%*$250k*$1mBusiness Gold Money Market Account.
OTHER TIERS: 1.50% $1 - $250k
3.00%*$250k*$1mGold Money Market Account
OTHER TIERS: 1.50% $1 - $250k
2.00%*$1m*-Diamond Money Market
OTHER TIERS: 1.50% $1 - $500k | 1.85% $500k - $1m
2.00%*$1m*-Business Diamond Money Market
OTHER TIERS: 1.50% $1 - $500k | 1.85% $500k - $1m
0.50%*$1m*$10mTitanium Money Market
OTHER TIERS: 0.15% $1 - $250k | 0.30% $250k - $500k | 0.40% $500k - $1m
0.50%*$1m*$10mBusiness Titanium Money Market
OTHER TIERS: 0.15% $1 - $250k | 0.30% $250k - $500k | 0.40% $500k - $1m
0.15%*$100k*-Traditional Money Market
OTHER TIERS: 0.10% $1 - $100k
0.15%*$100k*-Business Traditional Money Market
OTHER TIERS: 0.10% $1 - $100k

Institution for Savings Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$1-Personal Checking
0.25%*$500*$50kBonus Checking
OTHER TIERS: 0.10% $50k+
0.25%$1-Simple Business NOW Checking
0.25%$1-18/65 Checking
0.25%$1-Collegiate Checking

Institution for Savings CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.40%$1-6 Month CD Special
4.40%$1-Business 6 Month CD Special
4.25%$1-13 Month CD
4.25%$1-Business 13 Month CD
4.00%$1-24 Month CD
4.00%$1-Business 24 Month CD
2.50%$1-36 Month CD
2.50%$1-Business 36 Month CD
2.25%$1-7 Month CD
2.25%$1-9 Month CD
2.25%$1-12 Month CD
2.25%$1-15 Month CD
2.25%$1-23 Month CD
2.25%$1-Business 7 Month CD
2.25%$1-Business 9 Month CD
2.25%$1-Business 12 Month CD
2.25%$1-Business 15 Month CD
2.25%$1-Business 23 Month CD
1.00%$1-60 Month CD
1.00%$1-Business 60 Month CD
0.75%$1-20 Month CD
0.75%$1-30 Month CD
0.75%$1-48 Month CD
0.75%$1-40 Month CD
0.75%$1-Business 20 Month CD
0.75%$1-Business 30 Month CD
0.75%$1-Business 40 Month CD
0.75%$1-Business 48 Month CD
0.50%$1-18 Month CD
0.50%$1-Business 18 Month CD
0.25%$1-3 Month CD
0.25%$1-Business 3 Month CD

Institution for Savings IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.40%$1-6 Month IRA Special
4.25%$1-13 Month IRA
4.00%$1-24 Month IRA
2.50%$1-36 Month IRA
2.25%$1-7 Month IRA
2.25%$1-9 Month IRA
2.25%$1-12 Month IRA
2.25%$1-15 Month IRA
2.25%$1-23 Month IRA
1.00%$1-60 Month IRA
0.75%$1-20 Month IRA
0.75%$1-30 Month IRA
0.75%$1-48 Month IRA
0.75%$1-40 Month IRA
0.50%$1-18 Month IRA
0.25%$1-3 Month IRA
Locations

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