FDIC-Insured - Backed by the full faith and credit of the U.S. Government
FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Compare Accounts
| Essential Money Market | Mutual High Yield Savings | High Balance Savings | |
|---|---|---|---|
| The right fit if you want… | A tiered-interest savings account with no monthly fees. | A savings account for long-term financial goals | A savings account with tiered interest |
| Minimum Balance Requirement |  |  | |
| Monthly Service Charges | | | |
| Free ATM Withdrawals1 | | | |
| Free Online Banking | | | |
| Free Mobile Banking | | | |
| Mobile Check Deposit | | | |
| Free eStatements | | | |
| Other Benefits | No Monthly Fee | Tiered interest rates | Tiered interest rates |
Essential Money Market
Essential Money Market is our tiered-interest savings account with no monthly fees.
| Balance | Interest Rate | APY* |
|---|---|---|
| $0 - $24,999.99 | 0.10% | 0.10% |
| $25,000 - $49,999.99 | 0.25% | 0.25% |
| $50,000 - $99,999.99 | 0.45% | 0.45% |
| $100,000 - $249,999.99 | 0.90% | 0.90% |
| $250,000 - $499,999.99 | 1.20% | 1.21% |
| $500,000 - $749,999.99 | 1.83% | 1.85% |
| $750,000 or more | 2.08% | 2.10% |
Fees may reduce earnings on this account. Rates are subject to change after account opening.
*Annual Percentage Yield.
1You may incur a charge if you use your card at a non-SBSI ATM.
2Saco & Biddeford Savings Institution customers are eligible for the Greenlight SELECT plan at no cost when they connect their Saco & Biddeford Savings Institution account as the Greenlight funding source for the entirety of the promotion. Subject to minimum balance requirements and identity verification. Upgrades will result in additional fees. Upon termination of promotion, customers will be responsible for associated monthly fees. See terms for details. Offer ends 11/14/2026. Offer subject to change and partner participation.
Mutual High Yield Savings
With your linked Mutual Checking, you will have access to our Mutual High Yield Savings account. This is a great option to build up your nest egg, setting aside money for future needs, big purchases, or long-term financial goals. No large starting balance required.
| Balance | Interest Rate | APY* |
|---|---|---|
| $0 - $99,999.99 | 2.96% | 3.00% |
| $100,000.00 or more** | 0.10% | 0.10% |
Fees may reduce earnings on this account. Rates are subject to change after account opening. An active Mutual Checking or Mutual Interest Checking accounts is required. The Mutual High Yield Savings will be converted to an Essential Money Market if the corresponding checking account is closed. Only one (1) Mutual High Yield Savings allowed per primary customer.
*Annual Percentage Yield.
**Annual Percentage Yield for this tier will range from 0.10% to 3.00% depending on the balance in the account.
1You may incur a charge if you use your card at a non-SBSI ATM.
2Saco & Biddeford Savings Institution customers are eligible for the Greenlight SELECT plan at no cost when they connect their Saco & Biddeford Savings Institution account as the Greenlight funding source for the entirety of the promotion. Subject to minimum balance requirements and identity verification. Upgrades will result in additional fees. Upon termination of promotion, customers will be responsible for associated monthly fees. See terms for details. Offer ends 11/14/2026. Offer subject to change and partner participation.
3An active Mutual Checking or Mutual Interest Checking account is required. The Mutual High Yield Savings will be converted to an Essential Money Market if the corresponding checking account is closed.
High Balance Savings
This is a great option for those looking to take advantage of the rates offered at a higher balance level.
| Balance | Interest Rate | APY* |
|---|---|---|
| $0 - $999,999.99 | 0.10% | 0.10% |
| $1,000,000 - $1,499,999.99 | 2.42% | 2.45% |
| $1,500,000 - $2,999,999.99 | 2.95% | 2.99% |
| $3,000,000 - $4,999,999.99 | 3.15% | 3.20% |
| $5,000,000 - $9,999,999.99 | 3.25% | 3.30% |
| $10,000,000 or more | 3.25% | 3.30% |
Fees may reduce earnings on this account. Rates are subject to change after account opening.
*Annual Percentage Yield.
1You may incur a charge if you use your card at a non-SBSI ATM.
2Saco & Biddeford Savings Institution customers are eligible for the Greenlight SELECT plan at no cost when they connect their Saco & Biddeford Savings Institution account as the Greenlight funding source for the entirety of the promotion. Subject to minimum balance requirements and identity verification. Upgrades will result in additional fees. Upon termination of promotion, customers will be responsible for associated monthly fees. See terms for details. Offer ends 11/14/2026. Offer subject to change and partner participation.
Kids' Savings
Looking for a hands-on way to teach your child about the value of saving? Our Savings Account for kids is a great place to start.
Required Documentation Checklist
To ensure a smooth registration process, please have the following documents ready. We require these to verify identity, establish legal guardianship, and satisfy tax documentation requirements.
For Parents/Guardians Please provide both of the following:
For Minors Please provide two of the following three documents to verify age and identity:
Important Note Regarding Social Security Numbers: Regardless of which documents you choose to provide for the minor, you must have the minor's Social Security Number available to complete the registration process. Even if you are not using the Social Security card as one of your two required documents, the number itself is still mandatory for our records.
| Balance | Interest Rate | APY * |
|---|---|---|
| $0 to $5,000.99 | 1.19% | 1.20% |
| $5,001.00 or more** | 0.32% | 0.32% |
Fees may reduce earnings on these savings accounts. Rates are subject to change after account opening.
*Annual Percentage Yield.
**Annual percentage yield for this tier will range from 0.32% to 1.20% depending on the balance in the account.
Greenlight
With a debit card of their own, kids and teens learn to earn, save, and spend wisely — while you check in by app, send money instantly, set flexible controls, and get real-time notifications.
Holiday Club
Save for end-of-year holiday expenses, such as gifts and travel, by making small, regular deposits throughout the year with a holiday club savings account.
4Funds may be submitted for placement only after a depositor enters into the CDARS® Deposit Placement Agreement with Saco & Biddeford Savings. The agreement contains important information and conditions regarding the placement of funds by us.
IntraFi is a registered service mark of IntraFi Network, LLC.
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Calculators
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Find more of what you're looking for
CDs
Start growing your money today with a CD! We offer many options with your pick of rates and terms. As a Mutual Bundle customer, you will gain access to periodic special CD rates and terms.
IRA
Maximize the years ahead with the interest and tax benefits of a Traditional or Roth IRA. Choose from IRA CDs or Money Market IRAs – perfect for safeguarding your retirement. Both options are safe, secure and FDIC-insured.
HSA
Looking for a way to stay on top of rising health care costs? Open a Health Savings Account (HSA). An HSA gives you built-in tax benefits and dedicated health care savings.
IntraFi
If you're looking for a way to keep large deposits safe, IntraFi allocates your investment across multiple financial institutions to ensure full FDIC coverage4.