Personal Savings Account

Save smarter and better for your future with a no-fee personal savings account that makes your money work for you.

Benefits & Features

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No account fees

Fees? Forget about ‘em! We’re not here to wring money out of you, so enjoy no fees on deposit accounts regardless of balance.

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Flexible options for any needs

Not everyone’s financial story is the same, so why should your savings accounts be? Enjoy flexible and rewarding savings at any deposit level.

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Online & Mobile banking services

Manage your money whenever and wherever you want with all the financial tools you need securely in your pocket.

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Open an account in 5 minutes

Quickly and easily open an account online. All you need is five minutes! If you have any questions, your team is here to help.

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All deposits insured in full

You’ll never lose a penny with fully insured deposits through combined coverage provided by the FDIC and the DIF.

Achieve your long-term savings goals with a dependable return on your investment.

Start with as little as $10 and watch as your savings grow in this straightforward savings account.

Build up your balance fast with a flexible account that earns a leading rate of return.

Maximize the growth of your savings with the flexibility to access your money when you need it.

Frequently Asked Questions

Personal savings is any money you’ve stashed away for future goals, emergencies, or both.

Savings accounts work by accruing interest on the balance that you store, safe and sound, with your bank. In other words, you get paid just for saving money! Your yearly return on your savings account is also known as your APY, which stands for Annual Percentage Yield.

Interest works as an incentive for you to keep and deposit funds in your bank account. The bank uses that money to fund loans and investments, so it’s like you’re investing in your community. But don’t worry — it’s still your money to use when you need it!

Absolutely! Savings accounts are a great way to keep your cash safe and earn interest as you work towards achieving your financial goals.

The best savings account to grow your money might depend on factors like how much you can deposit, how high of a balance you can maintain, whether you need liquid funds or can leave them to grow over time, and more. Talk to your experts at Needham Bank to figure out which of our flexible savings accounts is right for you!

A good rule of thumb is to aim for around 3-6 months of living expenses in your savings account. However, the amount that makes sense for you can depend on a lot of things. Get in touch with your Needham Bank experts so we can help you personalize your financial plan.

The number of savings accounts you should have depends on your goals. For example, you might want one savings account for your emergency fund and another for a planned vacation.

Yes! With Needham Bank, you just need five minutes to quickly, easily, and securely open a savings account online. Get started on your own or reach out to us with any questions.

Sure thing! In fact, direct deposits into your savings account make it even easier to consistently grow your savings so you can keep making money on your money. It’s like paying yourself first!

All deposits at Needham Bank are insured in full through the combined coverage provided by the Federal Deposit Insurance Fund (FDIC) and the Depositors Insurance Fund (DIF). Deposits are covered by the FDIC up to $250,000 per depositor, while amounts over $250,000 are covered by the Depositors Insurance Fund.

DIF is an added benefit we provide to all customers at no cost on all of their deposit accounts. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.

Saving for your future has never been so easy

Quickly and easily open an account in just 5 minutes.