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The Savings Bank (MA)

Overview / Commentary
357 Main Street
Wakefield, MA 01880

The Savings Bank (MA) is headquartered in Wakefield and is the 62nd largest bank in the state of Massachusetts. It is also the 1,194th largest bank in the nation. It was established in 1869 and as of March of 2019, it had grown to 108 employees at 9 locations. The Savings Bank (MA)'s money market rates are 14% higher than the national average, and it has an A health rating.


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Health Grade Components

FDIC Certificate #90291
Year Established1869
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.48%
Return on Equity - YTD3.96%
Annual Interest Income$5.7MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$621.1MM$587.8MM
LoansQ1 2019vs Q1 2018$501.2MM$479.3MM
DepositsQ1 2019vs Q1 2018$507.1MM$484.3MM
Equity CapitalQ1 2019vs Q1 2018$74.8MM$72.2MM
Loan Loss AllowanceQ1 2019vs Q1 2018$3.7MM$3.6MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$2.6MM$2.2MM
Real Estate OwnedQ1 2019vs Q1 2018$0$0
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Always verify rates and promotions with the bank or credit union. We are not The Savings Bank (MA); 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.

The Savings Bank (MA) Savings Account Rates

1.51%*$10$25kKasasa Saver
OTHER TIERS: 0.50% $25k+
1.36%$10-Companion Savings Account w/ CD
0.10%*$2.5k*-Investment Account
OTHER TIERS: 0.03% $10 - $2.5k
0.08%$10-Statement Savings
0.03%$10-Passbook Savings
0.03%$10-Holiday Club Savings
0.03%$10-The C.L.U.B. Account

The Savings Bank (MA) Money Market Rates

0.75%*$500k*-Business Money Market Account
OTHER TIERS: 0.20% Up to $25k | 0.30% $25k - $5m | 0.40% $50k - $100k | 0.50% $100k - $250k | 0.60% $250k - $500k
0.50%*$100k*-The Money Market Account
OTHER TIERS: 0.05% $10 - $2.5k | 0.10% $2.5k - $10k | 0.20% $10k - $25k | 0.30% $25k - $50k | 0.40% $50k - $100k

The Savings Bank (MA) Checking Account Rates

2.00%*$10$15kKasasa Cash
OTHER TIERS: 0.20% $15k+
1.39%$10- IOLTA Account
0.10%*$100k*-Premium Checking
OTHER TIERS: 0.03% $10 - $2.5k | 0.05% $2.5k - $25k | 0.08% $25k - $100k
0.05%*$10k*-Interest Checking
OTHER TIERS: 0.03% $10 - $10k
OTHER TIERS: 0.03% $10 - $10k

The Savings Bank (MA) CD Rates

2.27%$1k-6 Month CD
1.45%$1k-60 Month CD
1.30%$1k-48 Month CD
1.15%$1k-36 Month CD
1.15%$1k-30 Month CD
1.10%$1k-24 Month CD
0.90%$1k-18 Month CD
0.75%$1k-12 Month CD
0.65%$1k-9 Month CD

The Savings Bank (MA) IRA Rates

2.27%$1k-6 Month IRA
1.45%$1k-60 Month IRA
1.30%$1k-48 Month IRA
1.15%$1k-36 Month IRA
1.15%$1k-30 Month IRA
1.10%$1k-24 Month IRA
0.90%$1k-18 Month IRA
0.75%$1k-12 Month IRA
0.65%$1k-9 Month IRA

The Savings Bank (MA) Locations
South Lynnfield Branch1105 Summer StreetLynnfield, MA 01940
Methuen Branch17 Burnham RoadMethuen, MA 01844
The Savings Bank357 Main StreetWakefield, MA 01880
Colonial Shopping Center Branch584 Main StreetLynnfield, MA 01940
Lakeside Branch599 North AvenueWakefield, MA 01880
North Reading Branch6 Washington StreetNorth Reading, MA 01864
Andover Branch84 Main StreetAndover, MA 01810
Main Street Branch907 Main StreetWakefield, MA 01880

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