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Deposit Rates

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

All-In Checking1

Effective Date: Wednesday, July 26, 2017

Minimum Daily
Balance to earn APY
APYInterest Rate
$100.001.00%0.99%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 $100.00 required to open a All-In Checking Account. Daily minimum balance of $100.00 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).


NOW Checking1

Effective Date: Wednesday, July 26, 2017

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

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: Wednesday, July 26, 2017

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

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

Effective Date: Wednesday, July 26, 2017

Minimum Daily
Balance to earn APY
APYInterest Rate
$10.00 to $2,499.990.10%0.09%
$2,500.00 to $24,999.990.10%0.09%
$25,000.00 to $74,999.990.20%0.19%
$75,000.00 or greater 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 $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).


Certificates of Deposit1

Effective Date: Wednesday, July 26, 2017

TermMinimum Daily
Balance to earn APY
APYInterest Rate
6 months$500.000.60%0.60%
1 year$500.001.50%1.48%
18 months$500.001.55%1.53%
2 years$500.001.65%1.64%
3 years$500.001.75%1.74%
4 years$500.002.00%1.98%
5 years$500.002.00%1.98%
90 day$100,000.001.10%1.10%

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 $100,000.00 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. 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: Wednesday, July 26, 2017

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

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).