Deposit rates

Annual Percentage Yield (APY) is accurate as of 3/18/2024, and subject to change at any time without notice.


 

EZ Interest Checking and EZ Choice Savings*

Description

Minimum to Open
& Earn APY

Interest Rate

Annual Percentage
Yield (APY)

EZ Interest Checking
$1,500 minimum balance to waive $15 monthly fee.
$0.01-$9,999.99
           $10,000 +
3.93%
.10%
4.00%
.10%
EZ Choice Savings**
$2,500 minimum balance to waive $10 monthly fee.
Must have an active EZ Interest Checking Account.

$0.01-$24,999.99
            $25,000+
1.25%
3.20%
1.25%
3.25%

Passbook & Statement Savings Accounts*

This account offers a competitive variable rate which Milford Federal sets on a weekly basis to reflect market conditions. We offer both passbook and statement savings accounts, and you may deposit or withdraw at any time without notice. You can find out how savings accumulate by using our savings calculator

Description

Minimum to Open
& Earn APY

Interest Rate

Annual Percentage
Yield (APY)

Regular Savings$10.05%.05%
Statement Savings
$10
.05%.05%
 

Money Market Checking Accounts*

With earnings rates at higher money market levels, this account is ideal for individuals with higher balances desiring to maintain a high level of liquidity. Minimum to open $50. Minimum to avoid monthly service charge $2,500.00.

Balance to Earn Stated APY

Interest Rate

Annual Percentage
Yield (APY)

$50 - $9,999.99
with monthly service fee of $10
.05%.05%
$10,000 - $24,999.99.10%.10%
$25,000 - $49,999.99.20%.20%
$50,000 - $74,999.99.20%.20%
$75,000+.20%.20%

Business Money Market Accounts*:

$50 - $9,999.99
with monthly service fee of $10
.05%.05%
$10,000 - $24,999.99.10%.10%
$25,000 - $49,999.99.20%.20%
$50,000 - $74,999.99.20%.20%
$75,000 +.20%.20%

Business Statement Savings Account*

Must have an active Business Checking Account. Rate subject to change at any time. $500 Minimum balance to avoid monthly service charge. Additional terms and conditions may apply. You can find out how savings accumulate by using our savings calculator

Description

Minimum to Open
& Earn APY

Interest Rate

Annual Percentage
Yield (APY)

Business Statement Savings
with a monthly service fee of $10
$10
3.93%4.00%

Certificates of Deposit

Minimum to Open
& Earn APY

Interest Rate

Annual Percentage
Yield (APY)

3 Months $1,000.10%.10%
6 Months$1,0004.41%4.50%
9 Months$1,000.15%.15%
12 Months
$1,0004.17%4.25%Open Account Now
18 Months
$1,000.20%.20%Open Account Now
24 Months$1,0001.50%1.51%Open Account Now
36 Months$1,0002.00%2.02%
36 Month Home Buyer CD
$5002.00%2.02%
36 Month Education CD$5002.00%2.02%
48 Months
$1,0002.50%2.53%
60 Months
$1,0002.75%2.78%Open Account Now
1-1/2 Year IRA*$25.10%.10%
*Rate may change after account is opened. Fees may reduce earnings on account. **Fees may reduce earnings on account. Penalty for early withdrawal. Interest is compounded daily. All CD types are available for IRA accounts.  Deposits are accepted from residents of Massachusetts, Rhode Island and Windham County Connecticut only. All accounts are subject to approval, and MFB reserves the right for any reason to refuse a deposit or to return all or any part thereof. Each depositor insured to at least $250,000 by the Federal Deposit Insurance Corporation.

Funds Availability Policy Disclosure

Important Information About Procedures for Opening a New Account