Go ahead, start saving! Give your investment portfolio a boost and earn a steady rate of return for a fixed period of time.
The Federal Deposit Insurance Corporation (FDIC) insures each depositor to at least $250,000. All deposits above this amount are insured by the Share Insurance Fund of Massachusetts (SIF).
There can be a substantial penalty for early withdrawal. Fees could reduce earnings. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).
Effective Date: Saturday, April 4, 2020
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Balance to earn APY
1 Annual Percentage Yield (APY) and rate are effective as of the date posted and are subject to change without notice. Substantial penalty for early withdrawal. Fees may reduce the earnings on the account. Minimum balance of $500.00 required to open the account and obtain APY. Interest compounded and credited monthly for terms of 1 year or greater. Interest does not compound and will be credited monthly for terms of 11 months or less. IRA Accounts with terms of 6 months or longer are eligble for these rates. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).
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