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Savings Products

Helping you make the most of your money is one of the most important ways in which Eastern Bank can help you reach your financial goals. And because we recognize that every individual has different savings needs, we offer a number of savings options, including savings accounts, money market accounts and CDs.

Savings Accounts

Economy Savings
If you're just starting to save, consider this account. Economy Savings is a low cost alternative for those who generally maintain a lower monthly balance. It offers ready access to your funds and a monthly statement.

Regular Savings
You have a choice of either maintaining a passbook or receiving a statement with our Regular Savings Account so you can pick the option that works best for you. Either way, you'll earn a very competitive interest rate on your funds.

Statement account holders receive monthly statements itemizing withdrawals and deposits. Transactions can be processed either in person at any of our branches or at the thousands of Automated Teller Machines (ATMs) that are conveniently located and easily accessible with your Eastern Bank ATM Card.

Passbook accounts allow you to record and keep track of your savings activity in a personalized book that you keep with you. You'll need to present the passbook at an Eastern Bank branch to make a withdrawal from your passbook.

Compare Savings Accounts
Feature
Economy
Savings
Statement
Savings
 Passbook
Savings
Account Type
Statement
Statement
Passbook
Minimum Opening Deposit
 $10 $10 $10
Monthly Service Charge
$1.00
$3.00
$3.00
Excess Item Fee1
$10
$10
$10
Monthly discount with Direct Deposit
NONE
$1.00
$1.00
Minimum Daily Balance to Avoid Monthly Service Charge
N/A
$250
$250
Ability to Access Account using Eastern ATM / debit card? 1
Yes
Yes
No
Ability to Set-up Automatic Transfers with other Eastern Bank Accounts? 1
Yes
Yes
No


Note: Depositors who are under age 19 or who are age 65 or over are eligible for an account where most fees will be reduced or eliminated. Ask for additional information. All products shown above have FDIC coverage up to $100,000.

  1. No more than 6 transfers or withdrawals in a month, no more than 3 of which may be by check or Point of Sale (POS) transaction. Unlimited transfers or withdrawals in person or at an ATM.

Money Market Accounts

Investment Plus
Investment Plus is a tiered rate savings account that offers progressively higher money market rates. The more you invest, the higher your return. The interest rate paid is determined by balance level. Deposits and withdrawals may be made for any dollar amount at any time in person or by Automated Teller Machine (ATM). Interest is compounded and paid monthly, the rates offered are subject to change at any time and a monthly statement is provided.

Eastern Select® Money Market
The Select Money Market Account is available to Eastern Select® Checking and Eastern Select® Checking Plus customers only. It is a tiered rate savings account that offers preferred money market rates. The more you invest, the higher your rate of return. The interest rate paid is determined by balance level. Deposits and withdrawals for any dollar amount may be made at any time in person or by Automated Teller Machine (ATM). Interest is compounded and paid monthly, the rates offered are subject to change at any time and a monthly statement is provided.

Compare Money Market Accounts
Feature Investment Plus Select Money
Market 1
Account Type
Statement
Statement
Minimum Opening Deposit
 $2,500 $2,500
Monthly Service Charge
$7
N/A
Excess Item Fee2
$10
$10
Minimum Daily Balance to
Avoid Monthly Service Charge
$2,500
N/A
Rate Structure
Tiered rates based
on balance
Preferred tiered
rates based
on balance
Method of Compounding
Monthly
Monthly
Ability to Access Account using Eastern ATM / debit card? 2
Yes
Yes
Ability to Set-up Automatic Transfers with other Eastern Bank Accounts? 2
Yes
Yes


Note: All products shown above have FDIC coverage up to $100,000.

  1. Available to Select Checking and Select Checking Plus customers only.
  2. No more than 6 transfers or withdrawals in a month, no more than 3 of which may be by check or Point of Sale (POS) transaction. Unlimited transfers or withdrawals in person or at an ATM.

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