Deposit Rates
Checking Rates*
Effective Date: Sunday, November 17, 2024
| type | Minimum Daily Balance to earn APY* | APY | |
|---|---|---|---|
| Rewards Checking** (Requirments are met) | $10.00 | 1.500% | Open An Account |
| $25,000.00 | 0.030% | ||
| Rewards Checking** (Requirments NOT met) | $10.00 | 0.030% | |
| Preferred Checking*** | $10.00 | 0.030% |
*Annual Percentage Yield (APY) and rate subject to change without notice. Rate may change after the account is opened. Fees could reduce earnings on account. Please consult a Personal Banking Manager for information about fees and terms for these accounts.
**1.50% Annual Percentage Yield (APY) as of 4/1/20 is paid on balances up to, and including, $24,999.99 provided all other account requirements are met for the current statement cycle. For balances $25,000.00 and above, the Preferred Checking Interest Rate and APY of 0.03% will be paid on the portion of your daily balance that is $25,000.00 or greater. If requirements are not met, the Preferred Checking Interest Rate of 0.03% APY will be paid on balances above and including $10. The APY will range downward from 1.50% depending on the balance in the account. For example, the APY, for a balance of $50,000.00 would be 0.77%. Normal activity charges will apply. Fees could reduce earnings. Rates may change at any time without prior notice. Rates may change after account opening. Requirements for each statement cycle are: at least 10 debit card purchases posted per statement cycle, sign up and use Online Banking and Bill Pay at least once per statement cycle, receive at least one direct deposit per statement cycle, and receive a monthly eStatement. If requirements are met, South Shore Bank will refund up to $10 per statement cycle for another bank's ATM surcharges & will not charge a foreign ATM fee for using another bank's ATM. Account requirements will be waived for the first statement cycle. Offer may be withdrawn at any time. One account per tax reporting owner. A statement cycle ends the last business day of a calendar month.
***$10 minimum deposit to open. A monthly service fee of $20.00 will be imposed every month unless you maintain an average monthly balance (for the current statement cycle) in your Preferred Checking account or a combined household deposit balance (previous month’s average balances) of $15,000 or $25,000 in consumer loans (current balances) including your mortgage loan for a statement cycle. The monthly service fee will be reduced to $15.00 per month if the account has direct deposit. You must maintain a minimum daily balance of $10.00 in the account each day to obtain the disclosed annual percentage yield. You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement. Fees may reduce the earnings on the account.
Savings Rates*
Effective Date: Sunday, November 17, 2024
| Type | Minimum Daily Balance to earn APY* | APY | |
|---|---|---|---|
| Statement Savings | $10.00 | 0.020% | Open An Account |
| Passbook Savings | $10.00 | 0.020% | |
| Premium Savings | $10.00 | 0.020% | |
| $25,000 | 0.100% | ||
| High Yield Money Market | Equal to or greater than $0 but less than $2,500 | 0.010% | Open An Account |
| Equal to or greater than $2,500 but less than $25,000 | 0.020% | ||
| Equal to or greater than $25,000 but less than $50,000 | 0.150% | ||
| Equal to or greater than $50,000 but less than $100,000 | 0.250% | ||
| Equal to or greater than $100,000 but less than $1,000,000 | 0.400% | ||
| Equal to or greater than $1,000,000 | 0.250% | ||
| Rewards Savings*** (When requirements are met**) | $10.00 | 1.250% | Open An Account |
| Rewards Savings*** (When requirements are not met**) | $10.00 | 0.020% | |
| IRA Savings*** | Equal to or greater than $0 but less than $10 | 0.000% | |
| Equal to or greater than $10 | 0.250% |
*Annual Percentage Yield (APY) and rate subject to change without notice. Rate may change after the account is opened. Fees could reduce earnings on account. Please consult a Personal Banking Manager for information about fees and terms for these accounts.
**Must already have or open a Rewards Checking Account. 1.250% Annual Percentage Yield (APY) as of 4/1/20 is paid on balances provided all account requirements of your corresponding Rewards Checking Account are met for the prior 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 0.020% 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. One per tax reporting owner. Certain products are available to open online. Products that are not available to open online can be opened in any of our branches.
Business Savings rates*
Effective Date: Sunday, November 17, 2024
| Type | Minimum Daily Balance to earn APY* | APY | |
|---|---|---|---|
| Business Savings | $2,000.00 | 0.050% | Contact Us |
| Business Money Market | $1,000.00 | 0.050% | Contact Us |
| $5,000.00 | 0.100% | ||
| $50,000.00 | 0.100% | ||
| $100,000.00 | 0.200% | ||
| $250,000.00 | 0.200% | ||
| Business Platinum Money Market** | $0 - $99,999.99 | 0.250% | Contact Us |
| $100,000.00 - $499,999.99 | 0.750% | ||
| $500,000.00 + | 0.500% |
*Annual Percentage Yield (APY) and rate subject to change without notice. Rate may change after the account is opened. Fees could reduce earnings on account. Please consult a Personl Banking Manager for information about fees and terms for these accounts.
**Only available with Business Platinum Checking or Commercial Checking Account. If you do not meet the requirement ($40,000) in the Commercial or Platinum Checking account, the Business Platinum Money Market will receive the regular Business Money Market rate.
Do you have a CD maturing with us? Call 781-682-3715 for current offers.
Certificates of Deposit Rates*
Effective Date: Sunday, November 17, 2024
| Type | Minimum Daily Balance to earn APY* | APY | |
|---|---|---|---|
| 3 Month CD or IRA | $1,000.00 | 0.250% | Open In Branch |
| 6 Month CD | $1,000.00 | 0.500% | Open An Account |
| 6 Month IRA | $1,000.00 | 0.500% | Open In Branch |
| 9 Month CD or IRA | $1,000.00 | 0.500% | Open In Branch |
| 12 Month CD or IRA | $1,000.00 | 0.500% | Open In Branch |
| 14 Month Rewards CD** | $1,000.00 | 0.700% | Open In Branch |
| 15 Month CD or IRA | $1,000.00 | 0.500% | Open In Branch |
| 16 Month CD*** | $1,000.00 | 0.600% | Open An Account |
| 16 Month IRA*** | $1,000.00 | 0.600% | Open in Branch |
| 18 Month CD or IRA | $1,000.00 | 0.700% | Open In Branch |
| 24 Month CD or IRA | $1,000.00 | 0.750% | Open In Branch |
| 30 Month CD or IRA*** | $1,000.00 | 0.750% | Open In Branch |
| 36 Month CD or IRA | $1,000.00 | 0.800% | Open In Branch |
| 44 Month Rewards CD** | $1,000.00 | 1.000% | Open in Branch |
| 48 Month CD or IRA | $1,000.00 | 0.900% | Open In Branch |
| 60 Month CD or IRA | $1,000.00 | 1.000% | Open In Branch |
*Annual Percentage Yield (APY) and rate subject to change. A penalty will be imposed for early withdrawal from a certificate account.
**Personal customers only. A penalty will be charged for early withdrawal. Must already have or open a Rewards Checking account to open this certificate of deposit. Must meet Rewards Checking Account requirements for the prior month to earn the advertised APY. (The 14-month Rewards CD will revert to a rate of 0.500% APY if Rewards Checking Account requirements are not met. At maturity, the 14-month Rewards CD will roll into a standard 15-month CD. The 44-month Rewards CD will revert to a rate of 0.500% APY if Rewards Checking Account requirements are not met. At maturity, the 44-month CD will roll into a standard 48-month CD. Account requirements will be waived for the first statement cycle.) Offer may be withdrawn at any time.
***Maximum deposit is $500,000. Personal customers only. A penalty will be charged for early withdrawal. At maturity, the 16-month CD will roll into a standard 15-month CD and the 30-month CD will roll into a standard 24-month CD.
