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Best Savings Accounts in Massachusetts of April 2024

Victoria Daniel

Being the 15th largest state in the U.S, Massachusetts is home to many banks. These banks offer the residents a wide range of high-yield savings accounts to choose from. Selecting an account that is the best fit for your needs can be a process.

When it comes to building your savings to achieve financial goals, a high-yield savings account can increase your funds faster than standard accounts. Most of these accounts have annual percentage yields (APYs) of close to 1%, which is more than the national average of 0.05%.

WalletBrain did reviewed some of the best savings accounts in Massachusetts. We looked at the account APYs, account fees, minimum deposit, and balance requirements. We also looked at other features and digital tools.

Take a look at the options and choose an account that is best suited for your financial needs.

An award-winning account with great rates

barclays bank logo
4.8

4.35%

Est. APY

$0

Min. To Earn APY

Overview

Barclays Online Savings' rate are consistently some of the highest in the nation with great features. No minimum opening balance or deposit required to open. Fees could reduce the earnings on the account.

What we like

  • No monthly fees
  • FDIC Insured
  • No minimum balance fees
  • Online banking

What we don't

  • Minimum opening deposit
  • No ATM access
  • Tiered APY

Access to checking writing

4.81%

Est. APY

$0

Min. To Earn APY

Overview

UFB Direct comes with check-writing capabilities and a free ATM card with a national network of fee-free ATMs.

What we like

  • Competitive interest rates
  • No minimum deposit
  • No recurring maintenance fees
  • Nationwide fee-free ATMs
  • Check writing capabilities
  • FDIC insured

What we don't

  • No physical branches
  • Account options are limited

Bank online with no monthly fees

4.75%

Est. APY

$5,000

Min. To Earn APY

Overview

This savings account is unique where you need to deposit $100 a month to get the highest APY. If you don't deposit $100+ a month, then you need to maintain $25,000 in the account. If you don't do either, you won't receive the higher end APY.

What we like

  • No monthly fees
  • FDIC Insured
  • No minimum balance fees
  • Online banking

What we don't

  • Minimum opening deposit
  • No ATM access
  • Tiered APY

Track savings on the mobile app

4.05%

Est. APY

$0

Min. To Earn APY

Overview

Quontic Bank high yield savings account provides you with the opportunity to accrue interest at a rate 15x higher than the national average. Interest compounds daily and is paid into your account every month.

What we like

  • Mobile and online banking
  • Competitive interest rate
  • No monthly service fees
  • Interest compounded daily

What we don't

  • Limited access to physical branches
  • No sign up bonus
  • $100 minimum deposit requirement

Everyday Savings

upgrade logo
4.7

4.00%

Est. APY

$0

Min. To Earn APY

Overview

This savings account will provide a flat APY regardless of your balance, and you won't worry about monthly fees. A great perk with this account is you can request a free ATM card.

What we like

  • No monthly fees
  • Interest compounded daily
  • Free ATM card

What we don't

  • No physical branch
  • No sign up bonus

No minimum fees

2.00%

Est. APY

$0

Min. To Earn APY

Overview

This savings account will provide a flat APY regardless of your balance, and you won't worry about monthly fees. A great perk with this account is you can request a free ATM card.

What we like

  • No monthly fees
  • Interest compounded daily
  • Free ATM card

What we don't

  • No physical branch
  • No sign up bonus

No monthly and minimum fees

0.61%

Est. APY

$0

Min. To Earn APY

Overview

This savings account will provide a flat APY regardless of your balance, and you won't worry about monthly fees. A great perk with this account is you can request a free ATM card.

What we like

  • No monthly fees
  • Interest compounded daily
  • Free ATM card

What we don't

  • No physical branch
  • No sign up bonus