We offer a variety of savings and investment accounts designed to meet your needs and goals. All offer attractive interest rates, low minimum balance requirements, and full deposit insurance.
Passbook & Statement Savings
ItÕs easy to start planning for the future with our savings accounts. Whichever option you choose, you can open your account with as little as $25. Interest is compounded daily and paid monthly.
Features:
- Maintain a $500 balance in your Passbook Savings account to waive monthly service charges.
- Link your Passbook Savings account to direct deposit of your paycheck, social security or other recurring check and pay no monthly service charges.
- Choose a Statement Savings account and the account is always FREE regardless of account balance.
- Free 24-hour ATM access to your Statement Savings account with no monthly fee.
Money Market & Premium Money Market Accounts
Combine higher earning power with the flexibility of a checking account to make your money work even harder for you!
Features:
- Access your Money Market funds by writing a check or transferring funds electronically.
- Make unlimited deposits and cash withdrawals.
- Make up to six transfers to other accounts or third parties per statement period. (Maximum of three checks, draft or debit card transfers per statement period.)
Certificates of Deposit (CDs)
With low minimum deposits, high interest rates, and many terms to choose from, a CD from Mayflower Bank CD is a great way to make your money work harder for you.
Features:
- Your choice of terms, from 91 days* to five years.
- Just $500 to open a CD with a term of one year or longer. Terms under one year have a minimum of $2,500.
- Interest is compounded and credited monthly.
- Interest can be automatically transferred to another Mayflower account or sent directly to you.
*Interest on 91-day certificates is not compounded and is credited at maturity.
Individual Retirement Accounts (IRAs)
Open a Mayflower IRA with no fees attached! We offer two IRA choices, so be sure to consult your tax professional to determine which one is right for you:
- Traditional IRA Ð A traditional IRA allows you to defer taxes on your earnings until they are withdrawn. Additionally, contributions to a traditional IRA may be tax deductible in the tax year for which they are made.
- Roth IRA Ñ A Roth IRA is a non-tax-deductible, but features tax-free withdrawals for certain distribution purposes after a five-year holding period.
All Deposits Insured in Full
The Federal Deposit Insurance Corporation (FDIC) insures all deposits up to $250,000. All deposits above the FDIC limits are insured in full by the Share Insurance Fund (SIF) of Massachusetts. No one provides better deposit protection!
How can we help?
For more information please complete our information request form, stop by one of our offices, or call (508) 947-4343. |
