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Why settle for “less is more” when you can do better? Pay nothing and get so much in return with Interest Rewards Checking.

Key Features

  • 0.20% APY* up to $10,000
  • Refunds on ATM Surcharge Fees
  • Free Account
  • Get $300 - (Lowell & Dracut residents only) receive qualifying direct deposits of $1000 or more within 30 days
  • Free checking that pays high interest when monthly qualifications are met
    • 0.20% APY* on balances up to $10,000
    • 0.20% to 0.10% APY on balances from $10,000.01 to $20,000*
    • 0.20% to 0.10% APY on balances over $20,000 depending on balance in account*
    • 0.01% APY* if qualifications aren't met
  • Plus, earn nationwide ATM fee refunds up to $15/ month when qualified
  • Link to free Saver Rewards to build savings automatically
  • No minimum balance to earn rewards
  • No monthly service fees
  • Unlimited check writing
  • Automatically receive Loyalty Rewards with higher combined deposit and loan balances
  • Free digital banking services, including:
    • Free online banking & bill pay
    • Free mobile banking with mobile deposit
    • Free eStatements
  • Free Mastercard® EMV debit card with ID Theft Monitoring
  • $10 minimum deposit to open

Monthly Qualifications to Earn Rewards

When you meet these monthly qualifications, you get some great rewards! Enrollments must be in place and all of the following transactions and activities must post and settle to your Interest Rewards Checking account during each Monthly Qualification Cycle:

  • At least 12 debit card purchases
  • At least 1 ACH transaction (deposit or withdrawal)
  • Be enrolled in and agree to receive eStatements

If you don't meet the qualifications one month, don't worry. There is no penalty, and you still have a free checking account that earns our base interest rate. Plus, you can get back to earning big interest and nationwide ATM fee refunds the very next month.

Welcome Kit!


Yeah, it's a "free account," but you may do some other stuff that could cause a fee.



Stop Payment Fee
(For paper checks or electronic withdrawals)


Overdraft/NSF Fee
(We know, this is a sensitive one and we try to be generous in forgiving first-time offenders and honest mistakes if you call and explain the situation to us. Plus, we won't charge a fee if the purchase or resulting overdraft is $10.00 or less.)


Surcharge ATM Fee
(We don’t charge these fees, the owners of other ATMs charge them for using their machine. When monthly qualifications are met, you can get up to $15 per month, max $5 per transaction, refunded.)


Returned Deposit Item
(This is a check that deposited into your account and then was returned to the bank for lack of funds — bounced!)



*Annual Percentage Yield (APY) accurate as of 11/22/2021. Certain restrictions may apply. Rates may change after the account is opened. Fees may reduce earnings. No monthly service charge. Minimum opening deposit $10. Interest Rewards Checking rate tiers, when statement cycle qualifications are met, are as follows: 0.20% APY applies to balances of $0-$10,000, 0.20%-0.10% APY applies to balances $10,000.01 - $20,000, 0.20%-0.10% APY applies to balances greater than $20,000. If qualifications are not met, all balances will earn 0.01% APY and ATM refunds will not apply, but the account will still function as a free checking account. Qualifying ACH transactions must be to/from a 3rd party. Qualifying Debit card purchases must post and clear in the Statement cycle.


*Offer is intended for new qualifying direct deposits on a new or existing Cash Rewards Checking or Interest Rewards Checking account for customers having their primary residence in Lowell MA or Dracut MA. A qualifying direct deposit is a recurring direct deposit of a paycheck, pension, Social Security, or other eligible regular monthly income electronically deposited by an employer or outside agency. Direct deposits via ATM, online, teller deposits, P2P services like Paypal or a transfer from a bank or brokerage account do not qualify. Customer will receive a $300 deposit into their account within 30 days from redeeming a "$300 Claim Form" and verification of eligibility. Offer expires March 31, 2023. Washington Savings Bank may change or discontinue this offer at any time before this date without notice. One $300 offer per customer, per household, per account. Offers cannot be combined. Services must be activated after 01/01/2023. Member FDIC. Member DIF.