Savings Accounts

No matter where you are in your financial journey, Shoreham Bank's savings solutions will meet you there!
 

Plan Ahead with Savings Accounts!


At Shoreham Bank, our savings accounts are designed to make your money grow with you through life's stages, while providing the protection and stability you need. We offer savings solutions that will help you prepare for what's next, whether you are simply looking ahead, establishing new saving goals, or building an emergency fund for long term security. Accounts can be opened at any branch location. Visit one of our locations or call us today for details, (401) 732-1991.

Our Locations

 
 

Our Rates

Soaring Savings

 

3.60%

APY1

3.54% Interest Rate
Minimum of $25,000 to Earn APY
$25.00 Minimum Opening Deposit

Statement Savings

Tier 1 

0.15%
APY2

0.15% Interest Rate Minimum of $25.00 to Earn APY
$25.00 Minimum Opening Deposit

Statement Savings

Tier 2

0.20%
APY2

0.20% Interest Rate Minimum of $25,000 to Earn APY
$25.00 Minimum Opening Deposit

Statement Savings

Tier 3

0.25%
APY2

0.25% Interest Rate Minimum of $75,000 to Earn APY
$25.00 Minimum Opening Deposit










Why open a Savings Account with Shoreham Bank? 

Managing your savings should feel effortless and supported. With Shoreham Bank savings accounts, you'll recieve:

  • Access to online and mobile banking 

  • Secure account monitoring 

  • Local branches for face-to-face support

  • Concise information 

When questions arise, you'll always have someone to turn to.
 

Take the next steps in your financial journey.

Opening savings accounts with Shoreham Bank means exploring your options and choosing solutions for where you are now and where you are heading! 

  • Visit one of our branch locations

  • Reach out to our trusted team with your questions 

  • Start funding your long-term plans 

We believe financial conversations should feel comfortable and obligation-free, whenever you're ready.

Frequently Asked Questions about Savings Accounts

Is it bad to let money sit in savings?

Savings accounts at Shoreham Bank are designed to keep your funds safe and working for you, especially compared to saving your money at home. With our high yield savings options, your money has the opportunity to earn a higher rate of interest, helping your balance grow.  

What is the right amount of money I should save at different stages of life?

Savings are not a true one-size-fits-all. Many younger savers start small, while others may focus on more long-term goals. You have the flexibility to decide what is right for you.

Should I have more than one savings account at one time?

Your savings strategy with Shoreham Bank can be tailored to your organizational habits, you decide the right number of savings account for you! Some savers prefer to have multiple accounts for different goals while others like to keep everything in one place.

Can I access my savings whenever I need to?

Savings accounts typically allow access to funds; however, some may have guidelines or limitations depending on usage. Is it safer to keep my money at home rather than in a savings account? Most people choose savings accounts for peace of mind and organization rather than keeping cash stored away at home. 

 

 

 

 
 
1 Annual Percentage Yield (APY) Effective 8/31/26 Subject to change without notice. Minimum daily balance is required during each monthly cycle period to earn interest. Fees could reduce earnings. Account type is only available in-branch. 
2 Annual Percentage Yield (APY) Effective 8/31/26 Subject to change without notice. No minimum daily balance required. If the account is closed before the interest is posted, you will not receive the accrued interest. Fees could reduce earnings. Account type is only available in-branch.