Rewards Savings
Looking to earn a higher interest rate on a savings account? As the companion account to the Rewards Checking Account you will earn a higher rate of interest on funds in a Rewards Savings Account when you meet the Rewards Checking Account requirements.
Features:
- Earn 1.25% APY** on balances when you meet the requirements on your Rewards Checking Account
- Earn our Statement Savings Account rate if Rewards Checking Account qualifications are not met***
- One easy-to-read monthly statement
- Open a personal savings account with as little as $10
- No monthly service charge
- Add a South Shore Bank ATM card to give you 24-hour access to your account
- Can easily transfer money between your checking and savings accounts.
**Must already have or open a Rewards Checking Account. 1.25% Annual Percentage Yield (APY) as of 4/1/20 is paid provided all account requirements of your corresponding Rewards Checking Account are met for the prior month. Requirements on the Rewards Checking Account are sign up to receive monthly e-Statements, receive at least one direct deposit per statement cycle, make at least 10 debit card purchases per statement cycle (excluding ATM transactions) and sign up and use Online Banking and Bill Pay at least once per statement cycle. A statement cycle ends the last business day of the calendar month.
***Please refer to your Rewards Checking Account disclosure for monthly requirements. If requirements are not met, you will earn our Statement Savings Rate, which is 0.02% APY as of 4/1/20, on balances above and including $10. $10 minimum deposit to open. There is a maximum of 6 transfers allowed from a savings account per month. Rates may change at any time without prior notice. Offer may be withdrawn at any time. One per tax reporting owner. Fees may apply and could reduce earnings.
