The Savings Bank
The Savings Bank is a small bank headquartered in Wakefield, MA. The bank operates 9 branches in 1 state (Massachusetts). The Savings Bank has deposits of $351.5 million, and was established in May 1869.
This bank is FDIC insured - all deposits are protected for up to $250,000. Products offered by the bank include: Fixed Rate CD, IRA CD, Savings Bank MMA, Passbook Savings, Statement Savings, e-Checking, Interest Checking and Premium Checking.
Current The Savings Bank Rates
| Name | Term | APY | Min Deposit | |
| Fixed Rate CD | 6 months | 0.90 % | $1,000 | |
| 9 months | 1.05 % | $1,000 | ||
| 1 year | 1.20 % | $1,000 | ||
| 18 months | 1.40 % | $1,000 | ||
| 2 years | 1.75 % | $1,000 | ||
| 3 years | 2.00 % | $1,000 | ||
| 4 years | 2.20 % | $1,000 | ||
| 5 years | 2.40 % | $1,000 | ||
| IRA CD | 6 months | 0.90 % | $1,000 | |
| 9 months | 1.05 % | $1,000 | ||
| 1 year | 1.20 % | $1,000 | ||
| 18 months | 1.40 % | $1,000 | ||
| 2 years | 1.75 % | $1,000 | ||
| 3 years | 2.00 % | $1,000 | ||
| 4 years | 2.20 % | $1,000 | ||
| 5 years | 2.40 % | $1,000 |
About The Savings Bank
In our ever changing financial market, it seems like every week brings another bank merger, another bank name, and another expensive fee structure.
The Savings Bank was originally chartered as the Wakefield Savings Bank in May of 1869. The name was changed to The Savings Bank in 1989 to reflect a broader geographic footprint.
The Savings Bank is a state-chartered mutual bank, which means that we have no shareholders. We consider ourselves a "community bank" in every sense. The Bank is headquartered in Wakefield (3 offices), with two offices in Lynnfield, and one each in North Reading, Andover, and Methuen. In 1981 we opened the 1st Educational Savings Branch at Wakefield High School - the first student run branch in the Nation. We also offer THE C.L.U.B. (Children Learning to Understand Banking) in grades 1-8 in several local schools. We've been serving local communities and families for over 140 years.
TSB employs approximately 140 people in functions ranging from accounting to marketing to lending to investing to insurance and many other areas.
In addition to traditional bank products and services (i.e. consumer and commercial deposits and loans), TSB offers retail brokerage through TSB Securities Group, personal and commercial insurance products through TSB Insurance Services, Inc, and wealth management and estate planning through First Financial Trust, N.A.
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