Union Bank Savings Account Interest Rate
We offer a variety of checking and savings accounts to suit your needs. All accounts come with the personal and convenient services you’d expect from your local community bank. To open a new account please visit or call any of our branch locations.
Rates effective as of 3/03/2021
Bank with Workers Credit Union, a member-focused credit union in MA. Offering convenient and competitive mortgages, high interest checking, savings accounts, new and used auto loans, and more, you can bank online or visit a branch in Chelmsford, Westford, Groton, Townsend, Lunenburg, Lancaster, Leominster, Fitchburg, Athol, Gardner. The savings accounts offered by credit unions work the same way as they would at a bank. There are usually a number of options available, including high-interest savings accounts and CDs. With some credit unions, you might be able to find introductory offers or extra features.
Certificates of Deposit and IRAs***
Rates are subject to change without notice.
| Account Term | Annual Percentage Yield | Interest Rate | Opening Deposit: CDs | Opening Deposit: IRAs |
|---|---|---|---|---|
| 6–11 Month | 0.10% | 0.10% | 1,000 | 500 |
| 12–17 Month | 0.15% | 0.15% | 500 | 500 |
| 18–23 Month | 0.20% | 0.20% | 500 | 500 |
| 24–35 Month | 0.25% | 0.25% | 500 | 500 |
| 36–47 Month | 0.30% | 0.30% | 500 | 500 |
| 48–59 Month | 0.40% | 0.40% | 500 | 500 |
| 60 Month | 0.50% | 0.50% | 500 | 500 |
| Save for Success CD—36 Month | 0.25% | 0.25% | 100 | n/a |
Jumbo Certificates of Deposit and IRAs***
| Account Term | Annual Percentage Yield | Interest Rate | Opening Deposit: CDs | Opening Deposit: IRAs |
|---|---|---|---|---|
| 183–364 Day | 0.10% | 0.10% | 100,000 | 100,000 |
| 12–17 Month | 0.15% | 0.15% | 100,000 | 100,000 |
| 18–23 Month | 0.20% | 0.20% | 100,000 | 100,000 |
| 24–35 Month | 0.25% | 0.25% | 100,000 | 100,000 |
| 36–47 Month | 0.30% | 0.30% | 100,000 | 100,000 |
| 48–59 Month | 0.40% | 0.40% | 100,000 | 100,000 |
| 60 Month | 0.50% | 0.50% | 100,000 | 100,000 |
CDARS Certificates of Deposit & IRAs
| Account Term | Annual Percentage Yield | Interest Rate | Opening Deposit: CDs | Opening Deposit: IRAs |
|---|---|---|---|---|
| 4 week | Not Currently Offering | n/a | 250,000 | n/a |
| 13 week | Not Currently Offering | n/a | 250,000 | n/a |
| 26 week | 0.05% | 0.05% | 250,000 | 250,000 |
| 52 week | 0.10% | 0.10% | 250,000 | 250,000 |
| 104 week (~2 year) | 0.10% | 0.10% | 250,000 | 250,000 |
| 156 week (~3 year) | 0.15% | 0.15% | 250,000 | 250,000 |
Other Accounts
*Save for Success
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.10% | 0.10% | 1.00+ |
*Passbook Savings
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.05% | 0.05% | 25–99,999 |
| 0.10% | 0.10% | 100,000-499,999 |
| 0.15% | 0.15% | 500,000 + |
*Statement Savings
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.05% | 0.05% | 25–99,999 |
| 0.10% | 0.10% | 100,000-499.999 |
| 0.15% | 0.15% | 500,000+ |
Holiday Club
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.10% | 0.10% | 5+ |
Holiday Club with Coupon Book
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.05% | 0.05% | 5+ |
*UB 55, Business Checking with Interest, Checking with Interest
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.00% | 0.00% | 0–999 |
| 0.02% | 0.02% | 1000–249,999 |
| 0.05% | 0.05% | 250,000+ |
Basic Advantage, Advantage Checking & Advantage Checking Plus
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.00% | 0.00% | 0–999 |
| 0.05% | 0.05% | 1,000–249,999 |
| 0.10% | 0.10% | 250,000+ |
HSA Checking
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.00% | 0.00% | 0 to 999 |
| 0.05% | 0.05% | 1,000–249,999 |
| 0.10% | 0.10% | 250,000+ |
Municipal Checking with Interest
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.15% | 0.15% | 750+ |
IOLTA / IORTA Accounts
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.00% | 0.00% | 0–9,999 |
| 0.02% | 0.02% | 10,000–49,999 |
| 0.05% | 0.05% | 50,000-99,999 |
| 0.10% | 0.10% | 100,000+ |
*Money Market
| Annual Percentage Yield | Interest Rate | Opening Deposit |
|---|---|---|
| 0.00% | 0.00% | 0–999 |
| 0.02% | 0.02% | 1,000-9,999 |
| 0.05% | 0.05% | 10,000-49,999 |
| 0.08% | 0.08% | 50,000–99,999 |
| 0.10% | 0.10% | 100,000–249,999 |
| 0.15% | 0.15% | 250,000–499,999 |
| 0.20% | 0.20% | 500,000+ |
Please contact a Union Bank Personal Banker for current information concerning terms and conditions.
*Variable Rate Accounts are subject to change without notice. **Service Charges could reduce the earnings for some Checking and Savings Accounts. ***Advantage Checking & Advantage Checking Plus Customers receive a premium on their CD, IRA and Money Market rates—currently 0.05% (excludes CDARS CDs) Certificates of Deposit and IRA’s may be subject to penalty for early withdrawal.
A Savings Account is very beneficial with multiple advantages as detailed below:
(1) Earns Interest on your Savings
This is the first and foremost benefit of opening a savings account. It starts earning interest on your money as soon as it is deposited. The interest rate is decided solely by the bank and changes from time to time. Regular interest depends upon the balance of the savings account.
Interest rate in savings account ranges from 3.5% to 7%.
(2) Provides Security of Funds
There is no risk involved in your savings account. It is considered as one of the safest investment alternatives. It even offers you the opportunity to put your money into another investment whenever the time comes.
(3) No Lock-in Period
There is no lock-in period under savings account which means that you can withdraw your deposits anytime you need. There is no need to keep your money in this account for any specific period. You have full flexibility in withdrawal of amount from it.
(4) Offers Liquidity
You can withdraw the amount anytime 24X7 with the use of ATM card or debit card from your account during any emergency even when the bank is closed. In fact, being able to access your money when you need it, is one of the biggest benefit of having a savings account.
(5) Availability of Variety of Savings Account
Many banks offer comprehensive range of savings accounts from regular to premium suiting to your personal banking needs. There are different types of savings accounts offered by various banks that differ based on the interest rates and duration of time commitments. You can choose any of them which suits your financial objectives and requirements.
(6) Services of Customer Relation Manager
Now-a-days many of the banks engage a Customer Relation Manager (CRM) who will help not only solve your queries but also assist you in tax saving, investment, mutual fund schemes, insurance, bank procedures, etc. You need to just call your CRM and he/ she will assist you solve your problem.
(7) Online Banking Facilities
If you maintain a savings account, you can make many transactions online also such as payment of bills, fund transfers using RTGS/ NEFT or IMPS, etc. This will save your time and efforts.
(8) Provides ATM/ Debit Card
You will be offered a debit or ATM card with a nominal charge or without any charges, as offered by your bank. With the help of this card, you can withdraw the funds, make transactions in shops, make payments of bills, etc.
(9) Helps you Get Credit or Loan
The relation you maintain with the bank will help you in getting credits from the bank such as home loan, personal loan. You will also be in a position to negotiate with the banker on the interest rates.
Union Bank Savings Rates Today
(10) No Cap on Deposits
There is no limit on the amount deposited and number of times it is deposited.
Union Savings Bank Savings Account Interest Rate
(11) Facility to link Loan EMIs, Mutual Fund SIPs or RD deductions
Credit Union Interest Rates Savings
You get a facility to link your monthly loan EMIs, Mutual Fund SIPs or RD deductions through the savings bank account.
Union Bank Savings Account Interest Rates
(12) Free Mobile App
Most of the banks provide their mobile app for free. Through this app, you can get to know your account balance, check your statement, make transactions, easy transfer of money, etc.