FAQs

Minimum down payment is the greater of the level required by regulatory statute or the amount sufficient to offset the credit risk in the transaction.

Needham Bank will loan up to 80% of the acquisition cost plus 100% of the construction "hard costs". Needham Bank does not usually fund for plans, engineering and soft costs such as permits.

At Needham Bank, you can make deposits to your Needham Bank account via NB Mobile with Mobile Deposit, Remote Deposit Capture for businesses, Direct Deposit, Mobile or Online transfers between accounts, and directly through a Needham Bank ATM.

Yes. Funds can be transferred to and from accounts by wire transfer or via ACH (Automated Clearing House) debits or credits. Contact one of our Personal Bankers for details and applicable fees.

With NB Online Banking and NB Business Online Banking, your account transactions are displayed in real-time as they post to your account. The same goes for account information on NB Mobile and NB Business Mobile.

Yes. With NB Online, NB Mobile, and NB Business Online, and NB Business Mobile you have access to your account information 24 hours a day, 7 days a week.

Yes. NB Checking pays a competitive rate of interest. Please check out our Deposit Rates page for details.

Personal Checking, Savings, Money Market, CD Accounts, Consumer and Residential Loans are available to open online. At this time, no business accounts or Individual Retirement Accounts (IRAs) can be opened online.

Needham Bank offers Money Market and Statement Savings accounts. Please check out our Deposit Rates page for current rate information.

After your checking application has been approved, you will receive our routing and transit number and your account number. If your employer participates in a direct deposit program, simply provide this information to the human resources or payroll department at your company and your direct deposit will usually begin within thirty days.

A Construction-to-Permanent loan is a residential mortgage loan that combines the construction phase with a fully amortized mortgage so that you only have to attend one closing.

Yes. Account information is available with our Customer Service Representatives during business hours at any of our offices or by calling our Telephone Banking Line 888-833-5590 for automated account information 24 hours a day.

After your checking application has been approved, you will receive our routing and transit number and your account number. 

We will assist by telephoning SSA with you or by providing contact information, so you may call from the privacy of your own home to set up.

A construction to permanent loan typically has a 12 month interest only period during the construction phase followed by a fully amortized mortgage loan.

NB Business Online Banking is a great solution to managing your business accounts. It allows you to view account history, include multiple entities within one online profile, transfer funds, initiate wire requests, pay your bills and invoices online, pay your federal taxes online, and download your information into QuickBooks. NB Business Online is customizable to your business needs. We can help you save time and be more efficient.

You can open a personal checking, savings or CD account any time online. Or, you can stop by your nearest Needham Bank branch and one of our customer service representatives will be able to assist you in opening a new account. Make sure to have two forms of identification, your social security or Tax ID number, and your initial deposit.