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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 December 5, 2022. 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

1Minimum 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; up to $25 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. 2Minimum deposit of $100 required to open account. Personal accounts only. Free standard checks or $10 credit toward custom check order. $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 & Money Market Accounts

The following rates are effective December 5, 2022. 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% Open an Account
Start Up Savings1>$0$0 – $1,0004.00%Open an Account
Passbook Savings2$10$10+0.05%
Statement Savings3 $10$10+0.05%Open an Account
Premium Money Market
Account4
$100,000$100,000 – $2,000,00002.00%Open an Account
Premium Money Market
Account4
$10,000$10,000 – $99,9990.05%Open an Account
Preferred Money Market Account4$10,000$10,000 – $2,000,00000.50%Open an Account
Preferred Money Market Account4$10$10 – $9,9990.05%Open an Account
Money Market Account5$10$10+ 0.05%Open an Account

* APY = Annual Percentage Yield

1Minimum deposit of $25 required to open account. Must be opened with funds not currently on deposit at Dedham Savings. Rates guaranteed until 12/31/22, and subject to change thereafter. Online statements required within 30 days of account opening, or account will revert to standard Statement Savings account. 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 of $10 required to open account. 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 of $10 required to open account. 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 of $10 required to open account. 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.

CDs / IRAs

The following rates are effective December 5, 2022. Rates are subject to change without notice.

account nameMINIMUM DAILY BALANCE
TO EARN APY
APY*
91 Day$1,000 CD/$100 IRA0.50%
182 Day$1,000 CD/$100 IRA0.75%
9 Months Special$1,000 CD/$100 IRA2.75%
12 Month$1,000 CD/$100 IRA1.00%
15 Months Special$1,000 CD/$100 IRA3.25%
18 Month$1,000 CD/$100 IRA2.25%
24 Month$1,000 CD/$100 IRA2.25%
30 Month$1,000 CD/$100 IRA2.25%
36 Month$1,000 CD/$100 IRA2.25%
48 Month$1,000 CD/$100 IRA2.50%
60 Month$1,000 CD/$100 IRA2.75%

* APY = Annual Percentage Yield

APY assumes the interest remains on deposit for the term of the time deposit. Minimum balance to open account and earn stated APY is $1,000. A penalty may be imposed for early withdrawal. Fees and/or penalties may reduce earnings. 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.

NOTE: CD Passbooks must be returned to the Bank in order to close the CD or roll the CD into a new account.

Consumer Loans

The following rates are effective December 5, 2022. Please note that rates are subject to change without notice.

Loan TypeMax. AmountMax. TermAPR*
Home Improvement$25,00084 Months7.75%

* APR = Annual Percentage Rate

All loans subject to credit approval. 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