Savings

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Optimum Savings

Saving regularly, even in small amounts, will help you achieve financial stability. Utilize an Optimum Savings account to move toward your goals.

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  • No monthly maintenance fee
  • No minimum balance requirement
  • Receive a monthly statement
  • Interest paid at the end of each month
  • $10 minimum balance to open and earn Annual Percentage Yield (APY)
  • Link to your personal checking account to prevent overdrafts (additional fees will apply)
  • Can be linked to your Visa® Debit Card (requires a checking account) with access to 55,000+ surcharge-free Allpoint network ATMs and SUM network ATMs

Savings

View Rates

Effective Date: Sunday, August 25, 2019

Savings

Interest RateAnnual Percentage Yield (APY)Minimum Balance to Open & Earn APY
.05%.05%$10.00

APY = Annual Percentage Yield

Fees may reduce earnings. Variable rate may change after account is opened. Certain restrictions may apply.

 

For a full explanation of our fees, please refer to our Fee Schedule.

Passbook Savings

If you are not looking to make frequent transactions and do not need a monthly statement, a Passbook Savings account may be the savings solution for you. This account is also an ideal way to start a savings account for kids.

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  • No monthly maintenance fee
  • Interest paid at the end of each month
  • $10 minimum balance to open and earn Annual Percentage Yield (APY)

Savings

View Rates

Effective Date: Sunday, August 25, 2019

Savings

Interest RateAnnual Percentage Yield (APY)Minimum Balance to Open & Earn APY
.05%.05%$10.00

APY = Annual Percentage Yield

Fees may reduce earnings. Variable rate may change after account is opened. Certain restrictions may apply.

 

For a full explanation of our fees, please refer to our Fee Schedule.

Holiday Club

Save money throughout the year for the holidays or another specific event. Your funds will earn interest until October and then all savings and earnings will be disbursed for you to spend as you need.

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  • No monthly maintenance fee
  • Receive a monthly statement
  • Funds are mailed or automatically transferred to an existing StonehamBank account the 1st week of October
  • $10 minimum balance to open and earn Annual Percentage Yield (APY)
  • Interest is posted on October 1st

Savings

View Rates

Effective Date: Sunday, August 25, 2019

Savings

Account Interest RateAnnual Percentage Yield (APY)Minimum Balance to Open & Earn APY
Holiday Club
Account
.05%.05%$10.00

APY = Annual Percentage Yield

Fees may reduce earnings. Variable rate may change after account is opened. Certain restrictions may apply.

 

For a full explanation of our fees, please refer to our Fee Schedule.

Vacation Club

Ready to save up for a getaway or other special event? Set money aside over time, earn interest on your deposits and then receive the funds at the end of the designated time-period.

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  • No monthly maintenance fee
  • Receive a monthly statement
  • Funds are mailed or automatically transferred to an existing StonehamBank account the 1st week of May
  • $10 minimum balance to open and earn Annual Percentage Yield (APY)
  • Interest is posted on May 1st

Savings

View Rates

Effective Date: Sunday, August 25, 2019

Savings

Account Interest RateAnnual Percentage Yield (APY)Minimum Balance to Open & Earn APY
Vacation Club
Account
.05%.05%$10.00

APY = Annual Percentage Yield

Fees may reduce earnings. Variable rate may change after account is opened. Certain restrictions may apply.

 

For a full explanation of our fees, please refer to our Fee Schedule.

Optimum Money Market

Build your balance with a reliable savings strategy. With our Optimum Money Market account, you will receive a higher rate of return as your money grows.

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  • Interest paid at the end of each month
  • Receive a monthly statement
  • Monthly maintenance fee2 of $5 is waived with a $2,500 average daily balance
  • $10 minimum balance to open and earn Annual Percentage Yield (APY)
  • Access your money at any time1

Money Market

1 Transaction Limitations: In accordance with federal regulations, you will be permitted to make no more than 6 combined pre-authorized, automatic, check or telephone transfers per statement cycle from your Money Market account to another account or third party. If you exceed these restrictions, we may assess an excess fee.

2 For a full explanation of our fees, please refer to our Fee Schedule.

View Rates

Effective Date: Sunday, August 25, 2019

Money Market

Account BalanceInterest RateAnnual Percentage Yield (APY) Minimum Balance to Open & Earn APY
Optimum
Money Market
$0 - $9.990.00%0.00%$0.00
Optimum
Money Market
$10.00 - $24,999.990.40%0.40%$10.00
Optimum
Money Market
$25,000.00 - $99,999.990.65%0.65%$10.00
Optimum
Money Market
$100,000.00 - $249,999.991.01%1.01%$10.00
Optimum
Money Market
$250,000.00 and above1.49%1.50%$10.00

APY = Annual Percentage Yield

Fees may reduce earnings. Interest compounded and credited monthly. Variable rate may change after account is opened. Certain other restrictions may apply. Monthly maintenance fee of $5 is waived with a $2,500 average daily balance.

 

Plus One Money Market

Enjoy a competitive interest rate with our Plus One Money Market.

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  • Interest paid at the end of each month
  • Access your money at any time1
  • Available only with an Optimum Plus or Optimum One Checking Account
  • $10 minimum balance to open and earn Annual Percentage Yield (APY)
  • No monthly maintenance fee2
  • Receive a monthly statement

Plus One Money Market

1 Transaction Limitations: In accordance with federal regulations, you will be permitted to make no more than 6 combined pre-authorized, automatic, check or telephone transfers per statement cycle from your Money Market account to another account or third party. If you exceed these restrictions, we may assess an excess fee.

2 For a full explanation of our fees, please refer to our Fee Schedule.

View Rates

Effective Date: Sunday, August 25, 2019

Plus One Money Market

BalanceInterest RateAnnual Percentage Yield (APY)
$0 - $9.990%0%
$10.00 and above1.74%1.75%

APY = Annual Percentage Yield

An Optimum Plus or Optimum One Checking Account is required to be eligible to open this account.

Fees may reduce earnings. Interest compounded and credited monthly. Variable rate may change after account is opened. Certain other restrictions may apply.

CD

Choose your term and lock in a competitive interest rate. With our Certificates of Deposit1 (CDs), have peace of mind knowing deposits are insured in full through a combination of Federal Deposit Insurance Corporation (FDIC) and Share Insurance Fund (SIF) protection.

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  • Your money builds predictably and safely - no need to worry about the ups and downs of the stock market
  • Choose term - from 3 months to 5 years

Certificates of Deposit

11-Month CD Specials

16-Month CD Specials

1Penalties may be imposed on early withdrawals. Fees may reduce earnings. Select terms available for online account opening.

 

View Current Rates

Effective Date: Sunday, August 25, 2019

Certificates of Deposit

Term Interest RateAnnual Percentage Yield (APY)Minimum to Open & Earn APY
3 months0.05%0.05%$1,000.00
6 months0.26%0.26%$1,000.00
12 months1.00%1.00%$1,000.00
13 months1.98%2.00%$1,000.00
15 months2.23%2.25%$1,000.00
18 months1.24%1.25%$1,000.00
24 months0.70%0.70%$1,000.00
36 months2.37%2.40%$1,000.00
48 months1.14%1.15%$1,000.00
60 months1.98%2.00%$1,000.00

APY = Annual Percentage Yield

Penalties may be imposed on early withdrawals. Fees may reduce earnings. Rates are subject to change without notice. Select terms available for online account opening. 

 

11-Month CD Specials

16-Month CD Specials

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