Savings

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
  • 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
  • Receive up to a +.05% APY savings rate bonus* - bonus based on the combined balance in your StonehamBank checking, savings, money market, IRA, and CD accounts

*Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +.05% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

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Effective Date: Monday, May 21, 2018

Base Interest Rate
(Optimum Tier I & II)
Base APY
(Optimum Tier I & II)
Optimum Benefits
Tier III APY1
Optimum Benefits
Tier IV APY2
.05% .05% .06% .10%

APY = Annual Percentage Yield

$10.00 minimum balance to open and earn APYs. Fees may reduce earnings. Variable rate may change after account is opened. Certain restrictions may apply.

1 Maintain a minimum average monthly checking balance of $15,000 or a minimum average monthly combined balance of $25,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.01% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

2 Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.05% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

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)
  • Receive up to a +.05% APY savings rate bonus* - bonus based on the combined balance in your StonehamBank checking, savings, money market, IRA, and CD accounts

*Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +.05% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

View Rates

Effective Date: Monday, May 21, 2018

Base Interest Rate
(Optimum Tier I & II)
Base APY
(Optimum Tier I & II)
Optimum Benefits
Tier III APY1
Optimum Benefits
Tier IV APY2
.05% .05% .06% .10%

APY = Annual Percentage Yield

$10.00 minimum balance to open and earn APYs. Fees may reduce earnings. Variable rate may change after account is opened. Certain restrictions may apply.

1 Maintain a minimum average monthly checking balance of $15,000 or a minimum average monthly combined balance of $25,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.01% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

2 Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.05% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

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
  • Receive up to a +.05% APY savings rate bonus* - bonus based on the combined balance in your StonehamBank checking, savings, money market, IRA, and CD accounts

*Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +.05% APY bonus.

View Rates

Effective Date: Monday, May 21, 2018

Account Base Interest Rate
(Optimum Tier I & II)
Base APY
(Optimum Tier I & II)
Optimum Benefits
Tier III APY1
Optimum Benefits
Tier IV APY2
Holiday Club
Account
.05% .05% .06% .10%

APY = Annual Percentage Yield

$10.00 minimum balance to open and earn APYs. Fees may reduce earnings. Variable rate may change after account is opened. Certain restrictions may apply.

1 Maintain a minimum average monthly checking balance of $15,000 or a minimum average monthly combined balance of $25,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.01% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

2 Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.05% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

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
  • Receive up to a +.05% APY savings rate bonus* - bonus based on the combined balance in your StonehamBank checking, savings, money market, IRA, and CD accounts

*Maintain a minimum average monthly checking balance of $50,000 or a minumum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +.05% APY bonus.

View Rates

Effective Date: Monday, May 21, 2018

Account Base Interest Rate
(Optimum Tier I & II)
Base APY
(Optimum Tier I & II)
Optimum Benefits
Tier III APY1
Optimum Benefits
Tier IV APY2
Vacation Club
Account
.05% .05% .06% .10%

APY = Annual Percentage Yield

$10.00 minimum balance to open and earn APYs. Fees may reduce earnings. Variable rate may change after account is opened. Certain restrictions may apply.

1 Maintain a minimum average monthly checking balance of $15,000 or a minimum average monthly combined balance of $25,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.01% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

2 Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.05% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

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 $2,500 minimum balance per monthly statement cycle
  • $10 minimum balance to open and earn Annual Percentage Yield (APY)
  • Access your money at any time1
  • Receive up to a +.05% APY savings rate bonus* - bonus based on the combined balance in your StonehamBank checking, savings, money market, IRA, and CD accounts

*Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +.05% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

1 Transaction Limitations: In accordance with federal regulations, transfers from a money market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check or similar order to third parties are limited to six per statement cycle.

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

View Rates

Effective Date: Monday, May 21, 2018

Balance Interest Rate APY Optimum Benefits
Tier III APY1
Optimum Benefits
Tier IV APY2
$0.00 - $49,999.99 0.35% 0.35% 0.36% 0.40%
$50,000.00 - $99,999.99 0.45% 0.45% 0.46% 0.50%
$100,000.00 - $299,999.99 0.55% 0.55% 0.56% 0.60%
$300,000.00 - $999,999.99 0.65% 0.65% 0.66% 0.70%
$1,000,000.00 and above 0.75% 0.75% 0.76% 0.80%

APY = Annual Percentage Yield

$10 minimum balance to open and earn APY. Fees may reduce earnings. Interest compounded and credited monthly. Variable rate may change after account is opened. Certain other restrictions may apply.

1Maintain a minimum average monthly checking balance of $15,000 or a minimum average monthly combined balance of $25,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.01% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

2Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.05% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

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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  • Receive up to a +.05% APY CD bonus* - bonus based on the combined balance in your StonehamBank checking, savings, money market, IRA, and CD accounts
  • 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

1Penalties may be imposed on early withdrawals. Fees may reduce earnings. $1,000 Minimum balance required to open and earn Annual Percentage Yield (APY). Select terms available for online account opening.

*Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +.05% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.

View Current Rates

Effective Date: Monday, May 21, 2018

Term Minimum Balance
to open & earn APY *
Base Interest Rate
(Optimum Tier I & II)
Base APY
(Optimum Tier I & II)
Optimum Benefits
Tier III APY1
Optimum Benefits
Tier IV APY2
3 months $1,000.00 0.05% 0.05% 0.06% 0.10%
6 months $1,000.00 0.26% 0.26% 0.27% 0.31%
9 months $1,000.00 0.40% 0.40% 0.41% 0.45%
12 months $1,000.00 0.55% 0.55% 0.56% 0.60%
15 months $1,000.00 0.60% 0.60% 0.61% 0.65%
18 months $1,000.00 0.65% 0.65% 0.66% 0.70%
24 months $1,000.00 0.70% 0.70% 0.71% 0.75%
30 months $1,000.00 0.80% 0.80% 0.81% 0.85%
36 months $1,000.00 0.85% 0.85% 0.86% 0.90%
48 months $1,000.00 1.14% 1.15% 1.16% 1.20%
60 months $1,000.00 1.15% 1.16% 1.17% 1.21%

*APY = Annual Percentage Yield

Penalties may be imposed on early withdrawals. Fees may reduce earnings. Rates are subject to change without notice. $1,000 Minimum balance required to open and earn Annual Percentage Yield (APY). Select terms available for online account opening. 

1 Maintain a minimum average monthly checking balance of $15,000 or a minimum average monthly combined balance of $25,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.01% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.  Not available on the promotional 9 month CD.

2 Maintain a minimum average monthly checking balance of $50,000 or a minimum average monthly combined balance of $100,000 in StonehamBank checking, savings, money market, IRA, and CD accounts to earn +0.05% APY bonus. Please refer to our Optimum Benefits chart for more information and other bonus rates available.  Not available on the promotional 9 month CD.

View CD Specials

TermMinimum Balance to open & earn APY *Base Interest rateBase APY
11 Month$1,000.002.03%2.05%

* Annual Percentage Yield (APY) is effective as of 5/4/2018. Term deposit rate and APY are fixed for the duration of term. Minimum balance to open an account and obtain the APY is $1,000. If the account is renewed at maturity it will rollover to a StonehamBank 12-month term at the rate available at that time. This account will be subject to an early withdrawal penalty if account is closed or any funds are withdrawn before the maturity date. This 11-month promotional CD account does not receive Optimum Banking Benefits and will not receive a bonus rate if customer is Tier III or Tier IV. Offer open to Massachusetts and New Hampshire residents only, and is subject to change without notice. Fees may reduce earnings. Interest compounded and credited monthly. Other rates and terms are available.

 

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