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Deposit Rates

View the up-to-date rates for our deposit accounts and lending options.

All-In CheckingSM1

Effective Date: Tuesday, October 16, 2018

Minimum Daily
Balance to earn APY
APYInterest Rate
$100.001.50%1.48%Open Now

1 Minimum deposit of $100.00 required to open an All-In Checking Account. Daily minimum balance of $100.00 required to obtain APY on All-In Checking Account. Fees could reduce the earnings on the account. A monthly service charge of $25.00 will be imposed each month. $10.00 monthly service charge rebate for maintaining $1,000 minimum daily balance. $5.00 monthly service charge rebate for using Melrose Bank eStatements. $10.00 service charge rebate with $1,000 minimum monthly direct deposit. A qualifying direct deposit is a recurring direct deposit of a paycheck, pension or other regular monthly income (including Social Security) electronically deposited into account per statement cycle. Personal transfers or deposits made at the branch, online or ATM do not qualify. Nationwide ATM surcharges assessed to your account will be rebated monthly. This account is available for personal accounts only.  Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).


NOW Checking1

Effective Date: Tuesday, October 16, 2018

Minimum Daily
Balance to earn APY
APYInterest Rate
$10.000.10%0.09%How to Open

1 Annual Percentage Yield (APY) is effective as of the date posted and is subject to change and the rate may also change after the account is opened. Minimum deposit of $10.00 required to open a NOW Checking Account. Daily minimum balance of $10.00 required to obtain APY. Interest compounded daily and credited monthly. Fees may reduce the earnings on the account. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).


Statement Savings1

Effective Date: Tuesday, October 16, 2018

Minimum Daily
Balance to earn APY
APYInterest Rate
$10.000.20%0.19%Open Now

1 Annual Percentage Yield (APY) is effective as of the date posted and is subject to change and the rate may also change after the account is opened. Minimum deposit of $10.00 required to open a Statement Savings Account. Daily minimum balance of $10.00 required to obtain APY. Interest compounded daily and credited monthly. Fees may reduce the earnings on the account. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).


Money Market1
(Minimum deposit of $2,500)

Effective Date: Tuesday, October 16, 2018

Minimum Daily
Balance to earn APY
APYInterest Rate
$10.00 to $2,499.990.10%0.09%How to Open
$2,500.00 to $24,999.990.25%0.24%
$25,000.00 to $74,999.990.50%0.49%
$75,000.00 or greater 1.00%0.99%

1 Annual Percentage Yield (APY) is effective as of the date posted and is subject to change and the rate may also change after the account is opened. Minimum deposit of $2500.00 required to open a Money Market Account. Daily minimum balance of $10.00 required to obtain APY. Interest compounded and credited monthly. Fees may reduce the earnings on the account. Withdrawal restrictions apply to this account. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).


Super Money Market1
(Minimum deposit of $25,000)

Effective Date: Tuesday, October 16, 2018

Minimum Daily
Balance to earn APY
APYInterest Rate
$0.00 - $24,9990.00%0.00%How to Open
$25,000 - $99,9991.75%1.73%
$100,000 - $249,9991.80%1.78%
$250,000 - $1,999,9992.02%1.99%
$2,000,000 +0.40%0.39%

1 Annual Percentage Yield (APY) is effective as of the date posted and is subject to change and the rate may also change after the account is opened. Minimum deposit of $25,000.00 required to open a Super Money Market Account. Daily minimum balance of $25,000.00 required to obtain APY. Interest compounded and credited monthly. Fees may reduce the earnings on the account. Withdrawal restrictions apply to this account. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).


(Rates for accounts opened online.)

eCertificate of Deposit (eCD)1

Effective Date: Tuesday, October 16, 2018

TermMinimum Daily
Balance to earn APY
APYInterest Rate
1 year$500.002.35%2.32%Open Now
18 months$500.002.50%2.47%Open Now
2 years$500.002.65%2.61%Open Now

1Annual 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 for the 1 year, 18 month, and 2 year terms. Interest compounded and credited monthly. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI). eCertificate of Deposit (eCD) accounts must be opened and funded online, and these rates are not available in the branch. eCDs are for personal accounts only. Individual Retirement Accounts (IRAs) are not available at these rates.

(Rates for accounts opened in our branch.)

Certificates of Deposit1

Effective Date: Tuesday, October 16, 2018

TermMinimum Daily
Balance to earn APY
APYInterest Rate
90 day$50,000.001.35%1.35%How to Open
6 months$500.000.85%0.85%How to Open
1 year$500.002.25%2.22%How to Open
18 months$500.002.35%2.32%How to Open
2 years$500.002.65%2.61%How to Open
3 years$500.002.85%2.81%How to Open
4 years$500.002.25%2.22%How to Open
5 years$500.002.25%2.22%How to Open

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 for the 6 month, 1 year, 18 month, 2 year, 3 year, 4 year and 5 year terms. Minimum balance of $50,000.00 required to open the account and obtain APY for the 90 day term. 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).

IOLTA Checking1

Effective Date: Tuesday, October 16, 2018

Minimum Daily
Balance to earn APY
APYInterest Rate
$10.000.10%0.09%How to Open

1 Annual Percentage Yield (APY) is effective as of the date posted and is subject to change and the rate may also change after the account is opened. Minimum deposit of $10.00 required to open an IOLTA Checking Account. Daily minimum balance of $10.00 required to obtain APY. Interest compounded daily and credited monthly. Fees may reduce the earnings on the account. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).