EBSB Direct has a new
$50 minimum to open. If you are an existing EBSB Direct customer, to open this account you must deposit new money from another financial institution. Interest is compounded monthly and credited monthly. There is a $25 fee if you close the account within 180 days of opening.
EBSBDirect.com appears to be the nationally-available, online division of East Boston Savings Bank. However, be careful not to apply at the main bank website EBSB.com unless you are a resident of MA, RI, or NH as they will reject your application. I guess the checking accounts and branches are only for locals.
This account is notable as it is the first nationally-available savings account to reach 2.50% APY. Unfortunately, there is no rate guarantee period. I’m hesitant to open yet another bank account without a rate guarantee or a locked-in CD, but hopefully the other banks will catch up soon. 2.25% APY was the previous
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