Needham Bank savings, CD and money market rates
Needham Bank advertises 4.00% APY on its GoalGetter Savings account. The 4.00% applies to balances up to $20,000. A larger balance earns 0.05% on the whole amount.
A checking account at the bank is required. That is 3.63 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #67 of 2767 tracked savings rates by advertised APY. For a $10,000 balance it would rank #41.
Needham Bank at a glance
| Savings | |
|---|---|
| Top savings APY | 4.00% · GoalGetter Savings · up to $20,000 only · checking account required |
| Minimum to open | $10 · GoalGetter Savings |
| Against the national average | 3.63 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 4.20% · 15 months · 15 Month Certificate of Deposit |
| Minimum to open | $1,000 · 15 months CD |
| Money market | |
| Top money market APY | Up to 3.50% · Premium Money Market · needs at least $50,000 · checking account required |
| Minimum to open | $250 · Premium Money Market |
| Against the national average | 2.87 percentage points above the 0.63% FDIC money market average (Sep 2026) |
| FDIC certificate | 26483 · Needham, MA |
|---|---|
| Website | www.needhambank.com |
| Branches | 22 branches in MA, NH |
| Availability | Available in MA, NH |
Needham Bank savings, CD and money market rates
Personal
How the rate applies
How the rate applies
How the rate applies
How the rate applies
IRA
How the rate applies
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 5.50%. Across 60 savings accounts from 59 banks in the Banksparency core savings index, the median advertised rate is 3.66%, and one account in ten advertises 4.16% or more. See the highest savings rates.
Needham Bank CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| Personal CDs | |||
| 3 months | 3.80% | $1,000 | 3 Month Certificate of Deposit |
| 6 months | 3.90% | $1,000 | 6 Month Certificate of Deposit |
| 7 months | 4.20% | $25,000 | 7 Month Certificate of Deposit |
| 11 months | 4.20% | $1,000 | 11 Month Certificate of Deposit |
| 12 months | 3.85% | $1,000 | 1 Year Certificate of Deposit |
| 15 months | 4.20% | $1,000 | 15 Month Certificate of Deposit |
| 18 months | 3.70% | $1,000 | 18 Month Certificate of Deposit |
| 24 months | 3.15% | $1,000 | 2 Year Certificate of Deposit |
| 36 months | 3.15% | $1,000 | 3 Year Certificate of Deposit |
| 48 months | 3.15% | $1,000 | 4 Year Certificate of Deposit |
| 60 months | 2.50% | $1,000 | 5 Year Certificate of Deposit |
| IRA CDs | |||
| 3 months | 3.80% | $250 | 3 Month IRA Certificate of Deposit |
| 6 months | 3.90% | $250 | 6 Month IRA Certificate of Deposit |
| 7 months | 4.20% | $25,000 | 7 Month IRA Certificate of Deposit |
| 11 months | 4.20% | $250 | 11 Month IRA Certificate of Deposit |
| 12 months | 3.85% | $250 | 1 Year IRA Certificate of Deposit |
| 15 months | 4.20% | $250 | 15 Month IRA Certificate of Deposit |
| 18 months | 3.70% | $250 | 18 Month IRA Certificate of Deposit |
| 24 months | 3.15% | $250 | 2 Year IRA Certificate of Deposit |
| 36 months | 3.15% | $250 | 3 Year IRA Certificate of Deposit |
| 48 months | 3.15% | $250 | 4 Year IRA Certificate of Deposit |
| 60 months | 2.50% | $250 | 5 Year IRA Certificate of Deposit |
Interactive Tool
Calculate Savings for Needham Bank
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$1,568.10(10.1%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,568.10
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Needham Bank pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined. The 4.00% applies to balances up to $20,000. A larger balance earns 0.05% on the whole amount.
In Q2 2026, Needham Bank paid a higher average rate on savings and money market deposits than 89% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- Needham Bank, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Personal | ||||||||
| GoalGetter Savings | 4.00% | $10 | $0 | $20,000 | not stated | Checking account · direct deposit not stated | Tiered | |
| Fine print: A Needham Bank Flex Checking account is required, and without one the account earns the bank's base savings rate instead of the advertised APY. The advertised APY applies only to the first $20,000 of the balance; the part above that is paid at a much lower rate, so the blended return falls as the balance grows. One account is allowed per tax reporting owner, and personal accounts only. | ||||||||
| Statement Savings | 0.05% | $10 | $0 | None | not stated | not stated | One rate | |
| Premium Money Market | 3.50% | $250 | $0 | None | not stated | Checking account · direct deposit not stated | Tiered | |
| Fine print: A Needham Bank Premium Checking account is required to earn the stated APY. Without one the account is paid at the bank's base money market rate. | ||||||||
| Super Saver Money Market | 3.50% | $250 | $0 | None | not stated | Checking account · direct deposit not stated | Tiered | |
| Fine print: The account is open to new customers only, or to an existing customer who deposits $10,000 or more in funds that were not already at the bank. A Needham Bank personal checking account is required. If the qualifications are not met within 60 days of opening, the bank may convert the account to its standard Money Market account. Personal accounts only. | ||||||||
| Money Market | 0.30% | $250 | $0 | None | not stated | not stated | Tiered | |
| IRA | ||||||||
| Money Market IRA | 0.30% | $250 | $0 | None | not stated | not stated | Tiered | |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| Personal CDs | |||||
| 3 Month Certificate of Deposit | 3 months | 3.80% | $1,000 | not stated | not stated |
| 6 Month Certificate of Deposit | 6 months | 3.90% | $1,000 | not stated | not stated |
| 7 Month Certificate of Deposit | 7 months | 4.20% | $25,000 | not stated | not stated |
| 11 Month Certificate of Deposit | 11 months | 4.20% | $1,000 | not stated | not stated |
| 1 Year Certificate of Deposit | 12 months | 3.85% | $1,000 | not stated | not stated |
| 15 Month Certificate of Deposit | 15 months | 4.20% | $1,000 | not stated | not stated |
| 18 Month Certificate of Deposit | 18 months | 3.70% | $1,000 | not stated | not stated |
| 2 Year Certificate of Deposit | 24 months | 3.15% | $1,000 | not stated | not stated |
| 3 Year Certificate of Deposit | 36 months | 3.15% | $1,000 | not stated | not stated |
| 4 Year Certificate of Deposit | 48 months | 3.15% | $1,000 | not stated | not stated |
| 5 Year Certificate of Deposit | 60 months | 2.50% | $1,000 | not stated | not stated |
| IRA CDs | |||||
| 3 Month IRA Certificate of Deposit | 3 months | 3.80% | $250 | not stated | not stated |
| 6 Month IRA Certificate of Deposit | 6 months | 3.90% | $250 | not stated | not stated |
| 7 Month IRA Certificate of Deposit | 7 months | 4.20% | $25,000 | not stated | not stated |
| 11 Month IRA Certificate of Deposit | 11 months | 4.20% | $250 | not stated | not stated |
| 1 Year IRA Certificate of Deposit | 12 months | 3.85% | $250 | not stated | not stated |
| 15 Month IRA Certificate of Deposit | 15 months | 4.20% | $250 | not stated | not stated |
| 18 Month IRA Certificate of Deposit | 18 months | 3.70% | $250 | not stated | not stated |
| 2 Year IRA Certificate of Deposit | 24 months | 3.15% | $250 | not stated | not stated |
| 3 Year IRA Certificate of Deposit | 36 months | 3.15% | $250 | not stated | not stated |
| 4 Year IRA Certificate of Deposit | 48 months | 3.15% | $250 | not stated | not stated |
| 5 Year IRA Certificate of Deposit | 60 months | 2.50% | $250 | not stated | not stated |
Opening and using the account
| Availability | Available in MA, NH |
|---|---|
| Footprint | 22 branches in MA, NH |
| Eligibility | not stated |
How Needham Bank behaves over time
Every observation of the advertised GoalGetter Savings rate in the last 12 months was 4.00% (observed through Oct 3, 2026). The series includes promotional tiers where one applied.
- GoalGetter Savings
- The same as 7 days ago.
- 15 months CD
- Up 0.10 percentage points from 7 days ago.
- Premium Money Market
- The same as 7 days ago.
- Rate last changed
- Sep 30, 2026(effective date)
$10,000 at the 4.00% APY Needham Bank advertises on GoalGetter Savings grows to $10,400 in a year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). After a year of prices rising at that pace, it buys as much as $10,058 does today. See how the federal funds rate shapes savings rates.
Needham Bank CD rates over time
Who is Needham Bank?
| Headquarters | Needham, MA |
|---|---|
| Founded | 1892 |
| Scale | $7.4B assets · $6.3B deposits, $5.4B of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 26483 |
| Charter state | Massachusetts · one of 91 insured banks chartered there (Q2 2026, FDIC) |
| Size | 197th-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
Financial detail is in What Needham Bank pays on deposits above.
Common questions about Needham Bank
Is Needham Bank FDIC insured?
Yes. Needham Bank is FDIC insured under certificate 26483, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at Needham Bank?
Needham Bank requires a minimum deposit of $10 to open its GoalGetter Savings account, as observed on Oct 3, 2026. Check the bank's current terms before you open an account.
Does the 4.00% apply to my whole balance?
The 4.00% applies to balances up to $20,000. A larger balance earns 0.05% on the whole amount. A checking account at the bank is required. Rates are as observed on Oct 3, 2026.
Does Needham Bank have branches?
Yes. Needham Bank operates 22 branches according to FDIC branch records, in addition to its website and mobile apps.
Needham Bank against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Needham Bank | 4.00% | 2.71% | $10 | 22 branches in MA, NH |
| Bread Savings | 4.00% | 3.70% | $100 | 1 branch in UT |
| Carver Bank | 4.00% | 1.31% | $5,000 | 7 branches in NY |
| Central Bank Illinois | 4.00% | 1.98% | $100 | 12 branches in IL |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to Needham Bank's.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in Massachusetts, nearest to Needham Bank in deposits:
Rate hubs: today's highest savings rates, CD rates by term, and money market rates.
State pages: banks in Massachusetts.