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Rates

If you’re looking for rates, you’ve come to the right place. We work hard to offer the best rates in the market, so you can know your money’s working as hard as it can, too.

Checking Accounts

The following rates are effective September 30, 2020. Rates are subject to change without notice.

Account NameMinimum Daily Balance
to Earn APY
Balance TierAPY*
Interest Rewards Checking1$10,000$10,000+ 0.05%
Interest Rewards Checking1$10$10 – $9,9991.00%
Check Rewards Checking2$10,000$10,000+0.05%
Check Rewards Checking2$10$10 – $9,9990.05%

* APY = Annual Percentage Yield

1Interest Rewards Checking: Minimum deposit of $50 required to open account. Personal accounts only. One account per customer. To receive interest and rewards, you must complete the following each qualification cycle: receive online statements, make 12+ posted and cleared debit card purchases, and have at least 1 posted and cleared direct deposit or ACH (Automated Clearing House) auto debit. A qualification cycle means a period beginning 2 days prior to the last statement cycle through 3 days prior to the current statement cycle. ATM rebates applied at end of monthly statement cycle for qualified accounts. If you do not meet the requirements per qualification cycle, your account will earn the lowest tier APY. Fees may reduce earnings. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount. 2 Check Rewards Checking: $100 minimum deposit required to open account. Personal accounts only. Free standard checks or $10 credit toward custom check reorder. $20 monthly service fee waived with $10,000+ monthly combined deposit balances. Fees may reduce earnings on account. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount.

Savings

The following rates are effective September 30, 2020. Rates are subject to change without notice.

Account nameMinimum Daily Balance
to earn apy
balance tierAPY*
Start Up Savings1$1,000+$1,000+0.05%
Start Up Savings1$10$10 – $1,0005.00%
Passbook Savings2$10$10+0.05%
Statement Savings3 $10$10+0.05%
Preferred Money Market Account4 $10,000$10,000 – $2,000,00000.45%
Preferred Money Market Account4$10$10 – $9,9990.05%
Money Market Account5$10$10+ 0.05%
Business Money Market Account6$25,000$25,000+0.15%
Business Money Market Account6$1,000$1,000 – $24,9990.10%
Business Money Market Account6$10$10 – $9990.05%

* APY = Annual Percentage Yield

1APY (Annual Percentage Yield) accurate as of 1/1/20. $25 minimum opening deposit. Account must be opened with funds not currently on deposit at Dedham Savings. 5.00% APY for balances of $0 to $1,000. 0.05% APY for balances over $1,000. Rates guaranteed until 12/31/20, and subject to change thereafter. Online statements required within 30 days of account opening, or account will revert to standard Statement Savings account at 0.05% APY for all balances. One account per customer. Limited time offer. Fees may reduce earnings. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount. 2Minimum deposit to open account is $10. Fees may reduce earnings. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount. 3Minimum deposit to open account is $10. Fees may reduce earnings. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount. 4Minimum deposit to open account is $10,000. Maximum deposit of $2,000,000. Offer available for funds not currently on deposit at Dedham Savings. One account per household. Limited time offer.  Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount. 5Minimum deposit of $10 required to open account. $5 monthly fee will be assessed if average daily balance drops below $1,000. Fees may reduce earnings. 6Minimum deposit of $10 required to open account. $5 monthly fee will be assessed if average daily balance drops below $1,000. Fees may reduce earnings.

CDs / IRAs

The following rates are effective September 30, 2020. Rates are subject to change without notice.

account nameMINIMUM DAILY BALANCE
TO EARN APY
APY*
91 Day$1,000 CD/$100 IRA0.25%
182 Day$1,000 CD/$100 IRA0.30%
9 Months Special$1,000 CD/$100 IRA0.50%
12 Month$1,000 CD/$100 IRA0.40%
15 Months Special$1,000 CD/$100 IRA0.60%
18 Month$1,000 CD/$100 IRA0.60%
24 Month$1,000 CD/$100 IRA0.60%
30 Month$1,000 CD/$100 IRA0.60%
36 Month$1,000 CD/$100 IRA0.65%
48 Month$1,000 CD/$100 IRA0.65%
60 Month$1,000 CD/$100 IRA0.65%

* APY = Annual Percentage Yield

Minimum deposit of $1,000 required to open Certificate of Deposit (CD) and earn stated APY. Minimum deposit of $100 required to open Individual Retirement Account (IRA) and earn stated APY. Penalty for early withdrawal. Stated APY assumes the interest remains on deposit for the term of the time deposit. Fees and/or Penalties may reduce earnings. Deposits are insured up to current FDIC (Federal Deposit Insurance Corporation) limits and by the DIF (Depositors Insurance Fund) for all additional balances, up to any amount.

Consumer Loans

The following rates are effective September 30, 2020. Please note that rates are subject to change without notice.

Loan TypeMax. AmountMax. TermAPR*
New Auto (2020 or 2019)$75,00060 Months5.50%
New Auto (2020 or 2019)$75,000 72 Months5.75%
New Auto (2020 or 2019)$75,000 84 Months6.00%
Used Auto (2020, 2019, 2018)$50,000 60 Months6.25%
Used Auto (2017, 2016, 2015)$50,00048 Months6.50%
Home Improvement$25,00084 Months7.75%

* APR = Annual Percentage Rate

Loans subject to satisfactory credit history and ability to repay. Refinancing not available. New Auto (2020 or 2019): Estimated cost per $1,000 calculated on maximum term available. 6.00% APR for 84 monthly payments of $14.61 per $1,000 borrowed. 5.75% APR for 72 monthly payments of $16.46 per $1,000 borrowed. 5.50% APR for 60 monthly payments of $19.10 per $1,000 borrowed. Used Auto (2020, 2019, 2018): Estimated cost per $1,000 calculated on maximum term available. 6.25% APR for 60 monthly payments of $19.45 per $1,000 borrowed. Used Auto (2017, 2016, 2015): Estimated cost per $1,000 calculated on maximum term available. 6.50% APR for 48 monthly payments of $23.71 per $1,000 borrowed. Home Improvement Loan: Estimated cost per $1,000 calculated on maximum term available. 7.75% APR for 84 monthly payments of $15.46 per $1,000 borrowed.

Mortgages