South Shore Bank savings, CD and money market rates
South Shore Bank advertises 3.40% APY on its High-Yield Savings account. The 3.40% applies to balances of $10,000 or more, up to $2,499,999.99. Below $10,000, the account advertises 0.01%. A balance above $2,499,999.99 earns 0.01% on the whole amount.
That is 3.03 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #188 of 2789 tracked savings rates by advertised APY. For a $10,000 balance it would rank #119. The advertised rate has not changed in the 4 weeks since Banksparency began tracking it, through 1 Federal Reserve rate move.
South Shore Bank at a glance
| Savings | |
|---|---|
| Top savings APY | 3.40% · High-Yield Savings · balances of $10,000 to $2,499,999.99 only |
| Minimum to open | $10,000 · High-Yield Savings |
| Against the national average | 3.03 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 3.80% · 5 months · 5 Month CD or IRA |
| Minimum to open | not stated · 5 months CD |
| Against the national average | 2.39 percentage points above the 1.41% FDIC 6-month CD average (Sep 2026) |
| Money market | |
| Top money market APY | Up to 2.00% · High-Yield Money Market · needs at least $100,000 |
| Minimum to open | $10 · High-Yield Money Market |
| Against the national average | 1.37 percentage points above the 0.63% FDIC money market average (Sep 2026) |
| FDIC certificate | 90303 · South Weymouth, MA |
|---|---|
| Website | www.southshorebank.com |
| Branches | 13 branches in MA |
| Availability | Available in MA, NH, CT, RI, VT, ME |
South Shore Bank savings, CD and money market rates
Personal
How the rate applies
How the rate applies
IRA
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 5.50%. Across 59 savings accounts from 58 banks in the Banksparency core savings index, the median advertised rate is 3.65%, and one account in ten advertises 4.16% or more. See the highest savings rates.
South Shore Bank CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| 3 months | 2.53% | not stated | 3 Month CD or IRA |
| 5 months | 3.80% | not stated | 5 Month CD or IRA |
| 6 months | 2.50% | not stated | 6 Month CD or IRA |
| 7 months | 3.65% | not stated | 7 Month CD or IRA |
| 9 months | 2.50% | not stated | 9 Month CD or IRA |
| 11 months | 3.45% | not stated | 11 Month CD or IRA |
| 12 months | 2.50% | not stated | 12 Month CD or IRA |
| 18 months | 2.00% | not stated | 18 Month CD or IRA |
| 24 months | 2.00% | not stated | 24 Month CD or IRA |
| 30 months | 3.25% | not stated | 30 Month CD or IRA |
| 36 months | 2.00% | not stated | 36 Month CD or IRA |
| 48 months | 2.00% | not stated | 48 Month CD or IRA |
| 60 months | 2.00% | not stated | 60 Month CD or IRA |
Interactive Tool
Calculate Savings for South Shore Bank
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$2,960.30(11.4%)
- Total Contributions$13,000
- Initial Deposit$10,000
Projected Balance
$25,960.30
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What South Shore 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 3.40% applies to balances of $10,000 or more, up to $2,499,999.99. Below $10,000, the account advertises 0.01%. A balance above $2,499,999.99 earns 0.01% on the whole amount.
In Q2 2026, South Shore Bank paid a higher average rate on savings and money market deposits than 84% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- South Shore 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 | ||||||||
| High-Yield Savings | 3.40% | $10,000 | $0 | $2,499,999.99 | not stated | not stated | Tiered | |
| Fine print: The preferred rate applies only to a balance from $10,000 up to $2,500,000. A balance below or above that range earns the bank's base rate on the entire balance. The account must be opened with funds not already on deposit at the bank, and deposits are capped at $2,500,000 per household. Online opening is limited to residents of Massachusetts, New Hampshire, Connecticut, Rhode Island, Vermont and Maine. | ||||||||
| Rewards Savings | 2.75% | $10 | $0 | None | not stated | Direct deposit · Checking account | One rate | |
| Fine print: A Rewards Checking account is required to open or hold this account. The preferred rate is paid only for a statement cycle in which every requirement of the linked Rewards Checking account is met for the prior month. A much lower rate applies for a cycle in which they are not met. The bank is not accepting new accounts of this type. | ||||||||
| Free Savings | 0.01% | $10 | $0 | None | not stated | not stated | One rate | |
| High-Yield Money Market | 2.00% | $10 | $0 | None | not stated | not stated | Tiered | |
| IRA | ||||||||
| IRA Savings | 0.05% | $10 | $0 | None | not stated | not stated | One rate | |
Fine print for 2 products above: Online opening is limited to residents of Massachusetts, New Hampshire, Connecticut, Rhode Island, Vermont and Maine.
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 |
|---|---|---|---|---|---|
| 3 Month CD or IRA | 3 months | 2.53% | not stated | not stated | not stated |
| 5 Month CD or IRA | 5 months | 3.80% | not stated | not stated | not stated |
| 6 Month CD or IRA | 6 months | 2.50% | not stated | not stated | not stated |
| 7 Month CD or IRA | 7 months | 3.65% | not stated | not stated | not stated |
| 9 Month CD or IRA | 9 months | 2.50% | not stated | not stated | not stated |
| 11 Month CD or IRA | 11 months | 3.45% | not stated | not stated | not stated |
| Fine print: At maturity this certificate rolls into the bank's standard 12 month certificate. Online opening is limited to residents of Massachusetts, New Hampshire, Connecticut, Rhode Island, Vermont and Maine. | |||||
| 12 Month CD or IRA | 12 months | 2.50% | not stated | not stated | not stated |
| 18 Month CD or IRA | 18 months | 2.00% | not stated | not stated | not stated |
| 24 Month CD or IRA | 24 months | 2.00% | not stated | not stated | not stated |
| 30 Month CD or IRA | 30 months | 3.25% | not stated | not stated | not stated |
| Fine print: At maturity this certificate rolls into the bank's standard 24 month certificate. | |||||
| 36 Month CD or IRA | 36 months | 2.00% | not stated | not stated | not stated |
| 48 Month CD or IRA | 48 months | 2.00% | not stated | not stated | not stated |
| 60 Month CD or IRA | 60 months | 2.00% | not stated | not stated | not stated |
Fine print for 2 CDs above: At maturity this certificate rolls into the bank's standard 6 month certificate. Online opening is limited to residents of Massachusetts, New Hampshire, Connecticut, Rhode Island, Vermont and Maine.
Fine print for 3 CDs above: Online opening is limited to residents of Massachusetts, New Hampshire, Connecticut, Rhode Island, Vermont and Maine.
Opening and using the account
| Availability | Available in MA, NH, CT, RI, VT, ME |
|---|---|
| Footprint | 13 branches in MA |
| Eligibility | not stated |
How South Shore Bank behaves over time
Every observation of the advertised High-Yield Savings rate in the last 12 months was 3.40% (observed through Oct 3, 2026). The series includes promotional tiers where one applied.
South Shore Bank has not changed its advertised savings rate in the 4 weeks since Banksparency began tracking it, through 1 Federal Reserve rate move.
- High-Yield Savings
- The same as 30 days ago.
- 5 months CD
- The same as 30 days ago.
- High-Yield Money Market
- The same as 30 days ago.
- Rate last changed
- Sep 3, 2026(effective date)
$10,000 at the 3.40% APY South Shore Bank advertises on High-Yield Savings grows to $10,340 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 $10,000 does today. See how the federal funds rate shapes savings rates.
South Shore Bank CD rates over time
Who is South Shore Bank?
| Headquarters | South Weymouth, MA |
|---|---|
| Founded | 1833 |
| Scale | $2.5B assets · $2.2B deposits, $1.8B of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 90303 |
| Charter state | Massachusetts · one of 91 insured banks chartered there (Q2 2026, FDIC) |
| Size | 469th-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 57% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What South Shore Bank pays on deposits above.
Common questions about South Shore Bank
Is South Shore Bank FDIC insured?
Yes. South Shore Bank is FDIC insured under certificate 90303, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at South Shore Bank?
South Shore Bank requires a minimum deposit of $10,000 to open its High-Yield Savings account, as observed on Oct 3, 2026. Check the bank's current terms before you open an account.
Does the 3.40% apply to my whole balance?
The 3.40% applies to balances of $10,000 or more, up to $2,499,999.99. Below $10,000, the account advertises 0.01%. A balance above $2,499,999.99 earns 0.01% on the whole amount.
Does South Shore Bank have branches?
Yes. South Shore Bank operates 13 branches according to FDIC branch records, in addition to its website and mobile apps.
South Shore Bank against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| South Shore Bank | 3.40% | 2.47% | $10,000 | 13 branches in MA |
| RBMAX | 3.40% | 2.14% | $10 | not stated |
| SmartyPig | 3.40% | 3.75% | $0 | not stated |
| Liberty Bank | 3.35% | 2.13% | $25 | 51 branches in CT, MA |
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 South Shore 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 South Shore Bank in deposits:
Rate hubs: today's highest savings rates, CD rates by term, and money market rates.
State pages: banks in Massachusetts.