Savings & CDs

Regular 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.

Money Market Accounts  This premium rate account is available in either a monthly statement or passbook format. The minimum balance is only $2,500 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.

Term Deposit Certificates We are pleased to offer several different certificate terms ranging from 3 months to 5 years designed to fit your individual needs. Our interest rates are set at competitive market levels.

EZ CHECKING customers who maintain a combined deposit balance of $10,000 or more will be offered a CD Bonus rate. The Bonus rate will vary weekly. Weekly “SPECIAL RATE” CDs are excluded from the bonus.

Education Certificate With an Education CD at Milford Federal Savings, your savings for tuition, books, room and board, or other related expenses earn a high, guaranteed rate. With just $500 to start, you can save faster than ever and help pay for education costs. This account allows you to make contributions when the time is right for you, as often as you like, with the freedom to make payments to the school of your choice.   

Home Buyer’s Certificate Now, with just $500 to start, you can save for the home of your dreams faster than ever. With a Home Buyer’s CD, available exclusively at Milford Federal, your savings for a down payment will earn a high guaranteed rate. Some of the features of our Home Buyers Certificate:

  • You can make deposits at any time to this CD with a minimum of only $25
  • No penalties for early withdrawal if you’re buying a home
  • Special discounts are available on closing costs for mortgages processed through Milford Federal

Funds Availability Policy Disclosure

Important Information About Procedures for Opening a New Account  

Deposits accepted from residents of Massachusetts, Rhode Island and Windham County Connecticut only.

Check out our attractive savings rates online or call our Savings Rate Line at 508-478-5441

Each depositor insured to at least $250,000 by the Federal Deposit Insurance Corporation.


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