Rockland Trust's basic Free Savings account pays 0.01% APY as of July 3, 2026. The best online savings accounts pay around 4%. That is a difference of about $399 a year on a $10,000 balance, which is worth knowing before you open an account.
That said, rate is not the only thing a savings account does. Rockland Trust is a 152-branch Massachusetts community bank with strong financial health ratings, and some of its CDs pay competitive rates. Here is a full breakdown of its savings products, current rates, and where it makes sense.
Rockland Trust at a Glance
Rockland Trust is the bank subsidiary of Independent Bank Corp, headquartered in Rockland, Massachusetts. It was founded in 1907 and now operates about 152 branches across Massachusetts and surrounding New England areas, with roughly $24.9 billion in assets as of year-end 2025.
Deposits are FDIC insured up to $250,000 per depositor, per ownership category. Independent bank-health trackers give it top marks for financial stability, so safety is not a concern here. The question is purely about what your money earns.
Free Savings Account: Rates and Fees
The Free Savings account is Rockland Trust's entry-level savings product. As of July 3, 2026:
| Feature | Details |
|---|---|
| APY | 0.01% |
| Minimum deposit to open | $10 |
| Minimum balance for APY | $1 |
| Monthly maintenance fee | None |
| Compounding | Monthly |
The good news: it is genuinely free, with no monthly fee and a $10 opening deposit. The bad news: 0.01% APY is close to earning nothing. A $5,000 balance earns about 50 cents in a full year. This account works as a place to park money next to a Rockland Trust checking account, not as a growth tool.
Money Market Savings Options
Rockland Trust offers two money market accounts with tiered rates, and the tier APY applies to your entire balance. As of July 3, 2026:
Money Market Savings ($25 to open) pays 0.05% APY on balances under $10,000, 0.20% from $10,000 to $24,999, 0.50% from $25,000 to $49,999, and 0.55% at $50,000 or more. A monthly maintenance fee applies if your daily balance falls below $2,500 on any day of the statement period.
Rockland Complete Money Market ($250 to open) pays 0.10% APY under $5,000, 0.30% from $5,000 to $24,999, 0.55% from $25,000 to $49,999, and 1.00% at $50,000 or more.
Even the top tier, 1.00% APY on $50,000 or more, trails the roughly 4% APY available at online banks on any balance. Rates are variable and can change at any time.
CD Rates: Where Rockland Trust Gets Competitive
CDs are the strongest part of Rockland Trust's savings lineup. As of July 3, 2026, with a $1,000 minimum deposit:
| Term | APY |
|---|---|
| 4-month CD | 3.60% |
| 13-month CD | 3.25% |
| 5- and 6-month CD | 2.75% |
| 8- to 12-month CDs | 2.50% |
| 2-year and 5-year CD | 2.00% |
The 4-month CD at 3.60% APY is genuinely competitive with online banks for short-term cash you will not need right away. Longer terms fall off quickly, though, and early withdrawal penalties apply, so match the term to when you actually need the money.
How Rockland Trust Compares to Online Banks
Here is the honest math on a $10,000 balance for one year, as of July 2026:
- Rockland Trust Free Savings at 0.01% APY: about $1 in interest
- Rockland Trust Complete Money Market at 0.30% (this tier): about $30
- Typical online high-yield savings at 4.00% APY: about $400
Branch banks pay less partly because branches cost money. If you value walking into a location on Route 3 and talking to a person, that service has a price. If you mostly bank on your phone anyway, you are paying for branches you do not use.
Who Should Use a Rockland Trust Savings Account
Rockland Trust savings products make sense if you already have a Rockland Trust checking account and want same-day transfers, you handle cash or checks often and need branch access, or you want a short-term CD like the 4-month at 3.60% APY. It is also a reasonable home for a small buffer account where the rate barely matters.
It is a poor fit for a large emergency fund or long-term savings, where the gap between 0.01% and 4% compounds into thousands of dollars over a few years.
Higher-Yield Alternatives to Consider
If your goal is growth, a few no-fee options pay dramatically more than Rockland Trust's core savings accounts.
Current offers Savings Pods paying up to 4.00% APY on the first $2,000 in each of up to three pods when you maintain a $200 or more monthly direct deposit. That is up to $6,000 earning roughly 400 times the Free Savings rate, with no monthly fees.
Current Banking
Current Banking
Current is a mobile-first banking app with no monthly fee and no minimum balance. Members can earn up to 4.00% APY with a qualifying direct deposit of $200, receive direct-deposit paychecks up to 2 days early, and overdraft up to $200 fee-free.
Standout feature
4.00% APY on Savings Pods (with a $200+ qualifying direct deposit) plus paycheck up to 2 days early — both included on the standard account for free
Fees
Free
Pros
$0 monthly fee; up to 4.00% APY on Savings Pods with qualifying direct deposit; paycheck up to 2 days early;
Cons
No physical branches
Chime pairs fee-free checking with a high-yield savings account paying up to 3.75% APY for members on its top tier as of mid-2026. There is no minimum balance and no monthly fee, and automatic round-ups help the balance grow on its own.
Chime
Chime
- Fee-free banking plus early pay access - Overdraft up to $200 without fees - 5% cash back and build credit everyday. - 3.75% APY on your savings.
Standout feature
No credit check, no interest, no annual fee, and no minimum deposit required.
Fees
$0
Pros
Fee-Free Banking and Get paid up to 2 days early
Cons
App/online-only support, no branches
You do not have to leave Rockland Trust to use these. Many savers keep a local checking account for cash and branch needs, then hold their emergency fund in a high-yield account elsewhere. Terms and conditions apply to all accounts, and APYs are variable.
Next Steps
If you want a Rockland Trust account, you can open one online at rocklandtrust.com or at any branch, with as little as $10 for Free Savings. Before you do, decide what the money is for. Short-term parking next to checking: Rockland Trust is fine. Four to thirteen months of idle cash: consider its CDs. Long-term savings or an emergency fund: compare a high-yield option first, because the rate gap is the largest cost most savers never see.
Frequently Asked Questions
What is the interest rate on a Rockland Trust savings account?
The Free Savings account pays 0.01% APY as of July 3, 2026, with a $10 minimum opening deposit and no monthly fee. Money market accounts pay 0.05% to 1.00% APY depending on the account and balance tier. Rates are variable and can change at any time.
Does Rockland Trust charge a monthly fee on savings accounts?
The Free Savings account has no monthly maintenance fee. The Money Market Savings account charges a monthly maintenance fee if your daily balance drops below $2,500 on any day of the statement period, so check the fee schedule before choosing a money market option.
Are Rockland Trust CDs a good deal?
The short terms are. The 4-month CD pays 3.60% APY and the 13-month pays 3.25% APY as of July 3, 2026, which is competitive with many online banks. Longer terms pay 2.00% to 2.50%, which lags the market. All CDs require a $1,000 minimum and carry early withdrawal penalties.
Is Rockland Trust FDIC insured and safe?
Yes. Rockland Trust is FDIC insured (certificate 9712), so deposits are protected up to $250,000 per depositor, per ownership category. The bank holds roughly $24.9 billion in assets and earns top financial-health grades from independent bank-rating trackers as of early 2026.
