Florence Bank: Savings Accounts, CDs, Money Market & Rates

By Aviel Fahl

Updated: 8/19/2026

Mission: Banksparency aims to make Florence Bank's deposit accounts transparent and comparable to the market.

Interest rates reported as APY

Analysis of Florence Bank

Our verdict

Florence Bank offers a high-yield savings account paying 3.20% APY with a $10 minimum deposit.

At 3.20% APY, Florence Bank pays 8x the national savings average of 0.38%.

Additional Accounts

Statement Savings, a savings account at 0.05% APY.
Passbook Savings, a savings account at 0.05% APY.
Security Deposit Account, a savings account at 0.05% APY.

Ideal User Profile

Best for: simple saving without extra requirements.

CD Analysis

Florence Bank also offers CDs paying up to 3.55% APY on its 14 months term, across 15 term lengths.

Tracking 27 active CD products, useful for locking in today's rate before further moves at the Fed.

Best CD use: locking in 3.55% APY for a 14 months term and laddering across multiple maturities.

IRA Analysis

Florence Bank also offers an IRA savings account paying up to 0.05% APY.

Tracking 1 active IRA savings product, useful for tax-advantaged retirement savings.

Best IRA use: tax-advantaged retirement saving.

Important Considerations

No app ratings available for this bank.

iOS app rating is not available.

Android app rating is not available.

Deposit Accounts Overview

High-Yield Savings

Savings

3.20% APY

Tiered Range: 0.05% - 3.20%

StableNo rate changes in last 7 days

Min: $10 Branch Access

Rank #97 of 337 tracked.

NextGen Savings

Savings

1.00% APY

Tiered Range: 0.50% - 1.00%

StableNo rate changes in last 7 days

No Minimums Branch Access

Rank #157 of 337 tracked.

School Savings

Savings

0.10% APY

StableNo rate changes in last 7 days

Min: $1 Branch Access

Rank #256 of 337 tracked.

Club Account

Savings

0.05% APY

StableNo rate changes in last 7 days

Min: $10 Branch Access

Rank #295 of 337 tracked.

EZ $ave

Savings

0.05% APY

StableNo rate changes in last 7 days

Min: $10 Checking Bundle Branch Access

Rank #296 of 337 tracked.

Passbook Savings

Savings

0.05% APY

StableNo rate changes in last 7 days

Min: $10 Branch Access

Rank #297 of 337 tracked.

Security Deposit Account

Savings

0.05% APY

StableNo rate changes in last 7 days

Min: $10 Branch Access

Rank #298 of 337 tracked.

Statement Savings

Savings

0.05% APY

StableNo rate changes in last 7 days

Min: $10 Branch Access

Rank #299 of 337 tracked.

Money Market Account

Money Market

0.05% APY

Min: $1,000 Branch Access

Performance Money Market Account

Money Market

0.05% APY

Min: $1,000 Checking Bundle Branch Access

Variable IRA Savings Account

IRA Savings

0.05% APY

StableNo rate changes in last 7 days

Min: $10 Branch Access

Market Reality Check

This institution offers rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.

See Top Rates

National Avg: 0.38% (FDIC, 8/1/2026).
Banksparency tracks live rates daily.

Bank Overview

HQ LocationFlorence, MA
Deposit InsuranceFDIC Insured(Cert: 23293)

Visit Official Website

Featured Offers

Axos ONE - High Yield Savings & Checking

Over 95,000 fee-free ATMs
Get paid up to 2 days early with Direct Deposit
One convenient app for spending & saving

FDIC Insured

Savings4.21%APY

Checking0.51%APY

Go to Axos Bank

FDIC or NCUA insured

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	0
Min. Balance in Savings Account	0
How to qualify for APY	OPTION ADirect Deposit $1,500+ AND Maintain $1,500+ avg daily checking balance. OR OPTION BDeposit $5,000+ total/mo AND Maintain $5,000+ avg daily checking balance.
Mobile Ratings	iOS:4.7 Android:4.5

The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000.

EASY TRANSFERS, LOW MINIMUMS

SponsoredVerified Aug 19, 2026

FDIC Insured

Quontic High Yield Savings

Apply in 3 minutes or less
No monthly service fees
Transfer with Zelle, Apple Pay, G-Pay, and more

FDIC Insured

Savings3.20%APY

Go to Quontic Bank

FDIC or NCUA insured

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	10000
Min. Balance in Savings Account	0
Mobile Ratings	iOS:4.8 Android:4.9

Deposit Accounts: In-Depth View

Savings Accounts Offered by Florence Bank

Feature	High-Yield Savings	NextGen Savings	School Savings	Club Account	Statement Savings	Passbook Savings	Security Deposit Account	EZ $ave
APY	3.20%Range: 0.05% - 3.20%Verified: 8/19/2026	1.00%Range: 0.50% - 1.00%Verified: 8/19/2026	0.10%Verified: 8/19/2026	0.05%Verified: 8/19/2026	0.05%Verified: 8/19/2026	0.05%Verified: 8/19/2026	0.05%Verified: 8/19/2026	0.05%Verified: 8/19/2026
APY Trend	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days
Min. Deposit	$10	$0	$1	$10	$10	$10	$10	$10
Min. Balance	$10	$0.01	$1	$10	$10	$10	$10	$10
Monthly Fee	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Direct Deposit	None	None	None	None	None	None	None	None
Checking Bundle	No	No	No	No	No	No	No	Yes
In-Branch Access	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Compounding	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FDIC Insured	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Eligibility	United States	United States	United States	United States	United States	United States	United States	United States
Next Steps	-	-	-	-	-	-	-	-

Interactive Tool

Calculate Savings for Florence Bank

All calculations are based on APY.

Choose savings account

Initial deposit

Recurring deposit

Frequency

Duration

Savings Breakdown

Interest Earned
+$1,241.70(8.1%)
Total Contributions
$13,000
Initial Deposit
$1,000

Projected Balance

$15,241.70

Effective APY

3.20%

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Florence Bank Deposit Rates Over Time

No historical data available.

Compare with Florence Bank

Feature	Current View Florence Bank	Empty Slot
Product		-
APY	0.05% - 3.20%Verified: 8/19/2026	-
APY Trend	StableNo rate changes in last 7 days	-
Min. Deposit	$10	N/A
Monthly Fee	N/A	-
Direct Deposit	No	-
Checking Bundle	No	-
In-Branch Access	Yes	-
Eligibility	United States	-
Compounding	N/A	-
FDIC or NCUA Insured	Yes	-
Next Steps	-	-

CD Overview

3.55% Highest APY

Across 27 CD products with terms: 30 months, 9 months, 18 months, 17 months, 16 months, 14 months, 60 months, 48 months, 36 months, 24 months, 12 months, 7 months, 6 months, 5 months, 3 months

CD Products Offered by Florence Bank

Feature	3 Month CD 3 months	5 Month CD 5 months	5 Month IRA CD 5 months	6 Month CD 6 months	6 Month IRA CD 6 months	7 Month Easy-Out CD 7 months	9 Month IRA CD 9 months	9 Month CD 9 months	12 Month CD 12 months	12 Month IRA CD 12 months	14 Month CD 14 months	14 Month IRA CD 14 months	16 Month CD 16 months	16 Month IRA CD 16 months	17 Month Easy-Out CD 17 months	18 Month CD 18 months	18 Month IRA CD 18 months	24 Month IRA CD 24 months	24 Month CD 24 months	30 Month IRA CD 30 months	30 Month CD 30 months	36 Month IRA CD 36 months	36 Month CD 36 months	48 Month IRA CD 48 months	48 Month CD 48 months	60 Month IRA CD 60 months	60 Month CD 60 months
APY	1.00%Verified: 8/19/2026	3.30%Verified: 8/19/2026	3.30%Verified: 8/19/2026	1.50%Verified: 8/19/2026	1.50%Verified: 8/19/2026	3.00%Verified: 8/19/2026	3.40%Verified: 8/19/2026	3.40%Verified: 8/19/2026	1.50%Verified: 8/19/2026	1.50%Verified: 8/19/2026	3.55%Verified: 8/19/2026	3.55%Verified: 8/19/2026	3.10%Verified: 8/19/2026	3.10%Verified: 8/19/2026	0.15%Verified: 8/19/2026	0.20%Verified: 8/19/2026	0.20%Verified: 8/19/2026	2.15%Verified: 8/19/2026	2.15%Verified: 8/19/2026	0.35%Verified: 8/19/2026	0.35%Verified: 8/19/2026	3.00%Verified: 8/19/2026	3.00%Verified: 8/19/2026	3.00%Verified: 8/19/2026	3.00%Verified: 8/19/2026	3.00%Verified: 8/19/2026	3.00%Verified: 8/19/2026
Term	3 months	5 months	5 months	6 months	6 months	7 months	9 months	9 months	12 months	12 months	14 months	14 months	16 months	16 months	17 months	18 months	18 months	24 months	24 months	30 months	30 months	36 months	36 months	48 months	48 months	60 months	60 months
Min. Deposit	$500	$500	$500	$500	$500	$5,000	$500	$500	$500	$500	$500	$500	$500	$500	$5,000	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500
Early Withdrawal	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FDIC Insured	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes

Florence Bank CD Rates Over Time

Money Market Accounts Offered by Florence Bank

Feature	Money Market Account	Performance Money Market Account
APY	0.05%Verified: 8/19/2026	0.05%Verified: 8/19/2026
Min. Deposit	$1,000	$1,000
Min. Balance	$10	$10
Monthly Fee	N/A	N/A
Direct Deposit	None	None
In-Branch Access	Yes	Yes
Compounding	N/A	N/A
FDIC Insured	Yes	Yes
Eligibility	United States	United States

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