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Rates

Scroll down to view rates on our deposit and loan products. We offer a competitive return on our savings and CDs, and we’re committed to maintaining affordable loan rates for both our personal and business clients.

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Personal Deposit Rates (Updated 4/3/24)

ProductMinimum Balance to OpenMinimum Balance to Earn APYAnnual Percentage Yield (APY)
Statement Savings$10$100.10%
Personal Money Market$2,500$10 - $2,4990.05%
$2,500 - $9,9990.05%
$10,000 - $24,9990.10%
$25,000 - $49,9990.10%
$50,000 - $99,9990.25%
$100,000 or more0.35%
Passbook Savings$10$100.10%
Holiday Club$5$100.10%
Interest is compounded monthly. Fees may reduce earnings. Rates are variable and subject to change after account opening.
ProductMinimum Balance to Open and Earn APYAnnual Percentage Yield (APY)
91 Day CD$2,5000.20%
6 Month CD$2,5000.25%
1 Year CD$1,0001.00%
2 Year CD$1,0002.00%
3 Year CD$1,0002.25%
Interest is compounded monthly for 91 Day CD and 6 Month CD, and compounded daily for 1 Year, 15 Month, 2 Year, and 3 Year CDs. A penalty may be imposed for early withdrawal.
ProductMinimum Balance to Open and Earn APYAnnual Percentage Yield (APY)
1 Year IRA CD$5001.00%
2 Year IRA CD$5002.00%
3 Year IRA CD$5002.25%
Interest is compounded daily. A penalty may be imposed for early withdrawal. IRA annual contribution limits restrict the 15 Month IRA CD to rollovers and transfers only.
ProductMinimum Balance to OpenMinimum Balance to Earn APYAnnual Percentage Yield (APY)
Free Checking with Interest$10$1,000 - $1,9990.05%
$2,000 or more0.05%
Interest is compounded monthly. Fees may reduce earnings. Rates are variable and subject to change after account opening.

Personal Loan & Mortgage Rates (Updated 4/4/24)

ProductTotal TermAnnual Percentage Rate (APR)
with Autopay Discount
APR
without Autopay Discount
Monthly Payment Per $1,000Application Link
Home Equity Line of Credit (HELOC)20 Years8.00%1,28.50%N/AApply Online
Home Equity Loan1,35 YearsN/A6.875%$19.74Apply Online
10 YearsN/A7.625%$11.94Apply Online
15 YearsN/A8.125%$9.63Apply Online
20 YearsN/A8.375%$8.60Apply Online
1 - All loans subject to credit approval. Rates and terms subject to change without notice. Property insurance required. Flood insurance may be required. Consult tax advisor regarding deductibility of interest. Other rates, terms and programs available. For lines of credit, Annual Percentage Rate (APR) is variable monthly based on the Prime Rate published in the Wall Street Journal on the 4th day of each calendar month (or, if the 4th day is not a business day, as published on the prior business day), effective the 5th day of the month. Prime Rate as of 4/4/24 is 8.50%. If more than one Prime Rate is published, the higher rate shall be used. For lines of credit, establishing automatic monthly payment deduction from a Bank of Canton consumer checking or savings account ("autopay") at time of loan origination is required to receive 0.50% APR discount. If the account is closed or if autopay ceases, the APR could increase.
2 - For home equity lines of credit, APR will be as low as Prime minus 0.50% (but never lower than 4.50%) with autopay, and Prime without autopay. Maximum APR is 18%. 1-4 family owner-occupied or second homes in MA are eligible. Properties held in trust will require additional recording fees and legal review, at borrower’s expense. Maximum loan-to-value is 75%. Maximum line amount is $300,000.
3 - For home equity loans, APR is fixed. 1-4 family owner-occupied or second homes in MA are eligible. Properties held in trust will require additional recording fees and legal review, at borrower’s expense. Maximum loan-to-value is 75%. Maximum loan amount is $300,000. Payments reflected above do not include amounts for tax and insurance premiums, if applicable, and the actual payment may be greater.
ProductRateApplication Link
Home mortgage loans (including conforming, jumbo, MassHousing, FHA, and HomeReady/Home Possible loans)Mortgage rates are updated continuously throughout the day. To ensure you receive an accurate quote that's tailored to your specific needs and circumstances, we invite you to contact one of our mortgage lenders directly or request a custom quote. Or, if you're ready, you can apply online. All loans subject to credit and underwriting approval. Apply Online
ProductTermAnnual Percentage Rate (APR)Monthly Payment Per $1,000
Personal Loans48 Months12.50%$26.58
Auto - New24 Months12.50%$47.31
36 Months12.50%$33.45
48 Months12.50%$26.58
60 Months12.50%$22.50
Auto - Used48 Months12.50%$26.58
Overdraft Protection (Advance Account)Revolving16.00%N/A
Saver LoansRevolving2.50% plus collateral rateN/A
Rates and terms subject to change without notice. Installment loans are restricted to MA residents. Loans are subject to credit approval. Saver Loan rates are variable and may increase after consummation.

Business Deposit Rates (Updated 4/3/24)

ProductMinimum Balance to OpenMinimum Balance to Earn APYAnnual Percentage Yield (APY)
Business Savings$10$100.10%
Business Money Market $2,500$2,500 - $9,9990.05%
$10,000 - $24,9990.10%
$25,000 - $49,9990.10%
$50,000 - $99,9990.15%
$100,000 or more0.20%
Interest is compounded monthly. Fees may reduce earnings. Rates are variable and subject to change after account opening.

Business Loan Rates (Updated 4/3/24)

ProductRate
Business & Commercial LoansWe customize rates and terms to suit our clients' needs. Have a conversation with our Senior Lender Michael Lindberg about your business goals, and learn about the range of credit options available at Bank of Canton.