Highest Savings Account Rates (In Boston)

Savings account rates in Boston range from 0.01% to 5.00%. Dedham Savings Bank is in first place, followed by Metro Credit Union, and then PNC.

Despite having super high rates, there are some rules depositors must abide by. For example, Metro Credit Union only offers 5.00% on new money over $10,000. This means that even if a depositor has an existing account at Metro, they must transfer in new funds for the higher savings rate. Dedham Savings Bank takes the opposite approach by limiting how much depositors can earn. More specifically the 5.00% earnings are limited to an account with less than $1,000.

PNC has the lowest rate amongst the top three (4.65%), but it also has the least amount of rules. We break down the specific details below. Please know that rates regularly change, so please check each institution to confirm their current offerings.

Institution	APY
Dedham Savings Bank	5.00% APY only up to $1,000 0.05% APY on balances over $1,000 online statements required $25 minimum deposit (must be new money, funds not already in account)
Metro Credit Union	4.75% APY only on $10,000+ of new money rates can change at any time (without notice) account can not be accessed by ATM or debit cards dividends are compounded and paid monthly
PNC Bank	4.65% APY location-based rate

Last updated September 18, 2024

We hope this demonstrates that the highest rates do not necessarily mean the best choice. While this list only includes physical locations in the city, Bostonians also have access to online and neo banks that have better perks.