We've got you covered.

Needham Bank is a mutual community bank that’s been in business for over 125 years. We are well capitalized, profitable and strong. Our customers can rest assured that their money is safe and secure with us.

All deposits 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; amounts over that are covered by the Depositors Insurance Fund.

If you are ready to build your nest egg, we’re ready too. Let’s build something together.

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Learn About Our Savings Accounts

Personal Savings 

Saving money for the future is a national concern that too few of us actively engage in. That’s why Needham Bank offers easy ways to save, with great rates and no fees on deposit accounts regardless of balance. We’ve designed our accounts to be flexible and rewarding for clients of any deposit level.


Save for the future with this straightforward option. Learn more about NB Statement Savings.


Make your savings grow with our higher interest rates while keeping your funds liquid for your convenience. Learn more about NB Money Market.


Our CDs and IRAs are reliable options to help you achieve your long-term savings goals. Make your money grow with a dependable return on your investment. Learn more about CDs and IRAs.

Personal Savings Highlights

  • Tiered interest rates
  • No Account Fees
  • Up to 6 transactions per month

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Are all types of deposit accounts fully insured in a bank providing both FDIC and DIF insurance?

Yes. All types and classes of deposit accounts, both personal and business, are covered including savings accounts, checking and NOW accounts, certificates of deposit (CDs), money market deposit accounts, and retirement deposit accounts.

Does the DIF insure investments in bank mutual funds or annuities?

No. Both the FDIC and the DIF insure only bank deposits, and do not insure bank mutual funds or annuity products.

Is the DIF a federal or state agency?

No. The DIF is a private, industry-sponsored insurance company and is not backed by the federal government or the Commonwealth of Massachusetts.

How financially strong is the DIF?

No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF. The DIF has approximately $500 million in assets. During the recession of the early 1990s, the worst financial period in the history of the Massachusetts savings bank industry, the DIF paid out more than $50 million to protect over 6,500 depositors in 19 failed member banks. Yet the DIF emerged from this period financially stronger than before the recession began.

Knowledge Center

Starting Your Emergency Savings Fund

An emergency savings fund is a safety net to help cover unexpected expenses. Start your savings fund today with these budgeting tips from Needham Bank.

Learn more about Starting Your Emergency Savings Fund