Best Banks In Massachusetts: From Big Names to Hidden Gems, We Pick 11

This list of the best banks in Massachusetts includes top-ranked financial institutions across the state. For the best online banking experience, look no further than these banks.

Updated February 2024
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Fact checked by Cody Beecham

Image of bank overlayed with state of Massachusetts

You may be wondering, does the bank you choose really matter? Well, the answer to this question is yes, it does, immensely!

In Massachusetts, there is a range of banks to choose from and the bank you choose to open can determine whether or not you’re paying high fees, the benefits and perks you receive as a customer, and how much interest you make on your money.

However, many customers in Massachusetts don’t realize the importance of opening the right bank account for them. This not only does a disservice to themselves but to their money, too.

There is a common misconception that all banks are the same, while there is some truth to that, the reality is that if you look closely you can find big differences in products, services, technology, customer service, and rates offered.

In reality, every bank approaches things like customer service differently. This is the same for the products they offer, too.

You want to keep this in mind when looking at the different banks in Massachusetts we have compiled in this list.

Each bank featured in this guide contains its own advantages and benefits, as well as value-creating services and products that make them stand out in the crowd.

Here, we have outlined banks spread across the state, including Southeastern, Central, Eastern, and Western.

With this in mind, in this guide, we will explore the 11 best banks in Massachusetts.

Let’s get started.

Massachusetts bank facts

1. Bay State Savings Bank

If you’re looking for one of the top-rated banks in Massachusetts, then look no further than Bay State Savings Bank.

Here, you can enjoy extremely efficient services, ranging from small business loan programs for SMEs, sending and receiving money fast, and health and safety financial plans.

The best part? Customers are provided access to mortgage plans with professionals at their every demand to help and assist.

Founded in 1896, Bay State Savings Bank has created impactful and beneficial relationships with its customers that go beyond financial services.

The Bay State Savings Bank knows the importance of establishing networks between clients, neighbors, and organizations that benefits everyone involved.

2. Dean Bank

Dean Bank is considered one of the best banks in Massachusetts and provides customers with personal, lending, insurance, and business investment services, among many more.

Among its business products, you’ll find certificates of deposits, check rates, small business checking, savings & money markets, and Dean Bank rewards.

Moreover, the bank also provides you with personalized products, too, such as Dean Bank rewards, account choosers, check rates, and preferred savings. Other personal services include card managers and Dean mobile apps.

This only makes up a small percentage of what the bank offers. Like the other banks featured on this list, Dean Bank provides all its clients with a customer-friendly approach which results in client loyalty.

3. Middlesex Savings Bank

Another reputable banking institution located in Massachusetts is the Middlesex Savings Bank.

It provides its customers with a range of services, including business banking, personal banking, financial planning, and mortgages. Likewise, its personal banking options include student checking, military checking accounts, and freedom platinum checking.

Under the personal banking services, you can also get freedom blue checking and freedom gold checking as additional financial services.

Moreover, customers can benefit from certificates of deposit (CDs), personal savings accounts, account openings, and individual retirement accounts.

4. Millbury National Bank

Established in 1825, Mulberry National Bank has grown into a customer-focused and reputable bank, developing innovative services to benefit its clients.

The bank offers personal banking services such as personal savings, personal checking, EMV debit card, account services, and personal loans.

Likewise, it offers a wide range of business products, too, including business debit cards, business loans, and business accounts.

There is a range of loans provided to Millbury National, too, including business loans, personal loans, and loan rates.

5. Commerce Bank

When it comes to services, commerce banks categorize their products into business, personal, and wealth.

There are other categories ranging from borrowing, bank, cards, insurance, and investment. If you’re looking at banking services, these range from relationship cards, mySpending cards, interest checking, and free checking.

You can also get a commerce bank borrowing plan which involves home equity lending, mortgage, personal loans, vehicle loans, student loans, ReadyLine of Credits, and personal loans. Another product available to customers is patient financing.

Robert Frost quote on banks

6. Savers Bank

When you sign up for Savers Bank, you’re entitled to mortgages, checking & savings, business banking, debit card rewards, investment services, and commercial lending.

When it comes to personal banking, you’re provided with checking, mortgages & home equities, personal lending, savings, investment, and online & mobile banking services.

Other options include overdraft protection and credit card services.

When it comes to business banking, clients are offered cash management, business lending, business credit cards, investment services, mobile banking & business online, and business checking and savings, too.

7. Berkshire Bank

You can receive a range of business and personal banking services from Berkshire Bank. When looking at its personal banking services, some of which include banking, lending, and wealth management services.

The wealth management plan specifically includes a wealth management team, socially responsible investing, estate planning, and financial planning.

Other products include investment process, trust administration, foundation & endowments, non-profits, an online portfolio, and wealth management communications.

In terms of personal banking options, these products range from savings & CFFs, checking, private banking, debit & ATM cards, and retirement accounts.

Moreover, they offer a wide range of lending options, too, including Pay My Loan, home mortgage loans, personal loans, vehicle loans, powerline loan plans, and Mass Save Heat Loans.

8. Fidelity Bank

This is another bank that has earned the trust of its clients thanks to Fidelity Bank’s dedication to their customer’s financial requirements.

It provides customers with a range of services. That said, the three major ones include business banking, investment & insurance, and personal banking.

When it comes to personal banking, their products range from saving accounts to digital banking, checking accounts, and loans.

In terms of business banking, the products offered by the bank include business online banking, business checking, business banking team, commercial banking, cash management, and small business banking.

Moreover, your life insurance requirements can also be met by the bank, too. They pride themselves on taking into consideration the needs of their customers and meeting them to the best of their ability.

This is one of the main reasons it has been included in our list of best banks – it puts its attentiveness to customers beyond any other bank.

9. Adams Community Bank

Founded in 1869, Adams Community Bank is a mutual savings bank that continues to meet the requirements of its business owners and consumers even today.

Their mission as a bank is to provide their customers with the best experience possible – exceeding customer expectations by providing customer-friendly support and quality banking services that are convenient.

After all of this, they remain a mutually owned, community-oriented bank. Their aim is to provide a ‘family-style customer service’, and no, this is not a temporary campaign but the way in which they do business.

They make banking easier for their customers by providing professionalism, a can-do attitude, and smiles to all their clients.

10. Rockland Trust

At the core of Rockland Trust is its relationship and commitment to its customers and clients.

The types of services offered by the bank can be broadly categorized into small business, personal, wealth & investments, and commercial.

Moreover, you can receive products through its personal services which range from loans and banking.

Likewise, commercial customers receive specialized services when it comes to baking and loans. What’s more, there are also credit cards, business banking, and mortgage products available, too.

11. Webster Five

Established in 1868, Webster Five grew alongside its community. Throughout the 20th century, not only did the town see great success but the bank did also.

Despite enduring the Great Depression, the bank managed to come out on the other side. Strengthening their reputation as financial leaders in the community.

In fact, it was one of the first banks located in Massachusetts to offer NOW checking with a completely free checking account.

Thanks to its solid position in history and secure financial stability, Webster Five has established itself as an outstanding service provider, with fiscal strength, and community support.

On top of this, the branch has expanded across Massachusetts, making it easier than ever for businesses and residents in the area to choose to bank with them.

Sources

Editor's Note:

At Personal Finance Guru, we want to help you maximize your lifestyle through personal finance. You can trust the integrity of our independent financial advice. Our opinions are our own and have not been provided, reviewed, approved, or endorsed by any advertiser or financial product provider. To support and grow the site, however, we may receive compensation from the issuers of some products.

Cathy Gresham

Cathy Gresham

Editor & Author

Cathy Gresham is a finance whiz. 

After earning her MBA from The Wharton School, she has worked in strategy at some of the world’s largest and most influential financial companies for 20+ years. Notably, she has worked for the biggest credit card issuers and networks and brings an insider’s perspective to how credit card products work behind the scenes.  

Cathy is passionate about personal finance and investing, and loves helping people learn about these complex topics. Her wit and humor make learning about money fun, and she’s always happy to share her knowledge with others.

Cathy enjoys spending time with her family and friends when she’s not crunching numbers or developing investment strategies. She’s also an avid runner, and can often be found pounding the pavement on her morning jog.