North Middlesex Savings Bank

The average savings rate is 1.22%, but North Middlesex Savings Bank has a savings account with a 2.75% annual percentage yield (APY). The Simply Savings account is available as a passbook or statement account. Details of the offer include:

• No minimum opening deposit
• Make at least one deposit of $50 during each interest cycle
• Deposits must be made in person at a branch in Massachusetts
• Savings rate applies to deposits of $10 to $10,000 when account requirement is met each interest cycle
• Savings rate defaults to 0.25% of requirement is not met
• No ATM, Visa CheckCard, Internet banking, or ACH debits are allowed

You can only open one Simply Savings account per person. Three savings accounts are allowed per household.

North Middlesex Savings Bank also has an Easy Does It savings account. It pays a market rate of interest plus an extra 20% on the amount of interest credited to the account during the first nine months of the year. You receive the bonus payment in November.

The Easy Does It account can be set up as a statement or passbook savings account. You can access your account electronically and set up direct deposits. The savings account has a minimum balance requirement of $1,000.

North Middlesex Savings Bank is based in Ayers, Mass.

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