Grow your personal savings.
Whether you want to save for a rainy day or book that dream vacation, choose the MIT FCU Savings account that will help you achieve your financial goals.
5.00% APY1
Up to and including the first $2,000.00
- $5 minimum to open
- Higher interest with greater balance
- Easy access via withdrawals and transfers
Choose your Savings account
Basic Savings
A Basic Savings account gets your membership started, and is perfect for kids, too!
- No monthly maintenance fees30
- $5 minimum balance to open
- Federally insured up to $250,000 by the NCUA
Select Savings
Select Savings is an elevated account for members interested in a simple solution for short-term savings.
- Earn higher dividends on a minimum daily balance of $25,000
- Dividends compound daily and pay out monthly
- Federally insured up to $250,000 by the NCUA
Vacation & Holiday Club Savings
Vacation Club - Get started saving for your summer project, graduation gift, or annual vacation.
- Dividends compound daily and pay out monthly
- Vacation club funds automatically transfer - June 15th
- Strategic planning with anytime access to funds
- Initial deposit limit of $2,500
Holiday Club - Make the holidays merrier by preparing for winter heating expenses and holiday spending.
- Dividends compound daily and pay out monthly
- Holiday club funds automatically transfer - October 15th
- Strategic planning with anytime access to funds
- Initial deposit limit of $2,500
| Product | Minimum Daily Balance to Earn | Dividend Rate | APY 10 | Apply Now |
|---|---|---|---|---|
| Savings | $100.00 | 0.05% | 0.05% | Open account |
| High Yield Savings | $500.00 | 2.96% | 3.00% | Open account |
| IRA Share (Traditional & Roth) | $100.00 | 0.05% | 0.05% | Open account |
| Select Savings | $25,000.00 | 0.10% | 0.10% | Open account |
| Club Accounts | None | 0.05% | 0.05% | Open account |
| Starter Savings | Up to and including the first $2,000.00 | 4.88% | 5.00% | Open account |
| On remaining balance above $2,000.00 | 0.05% | 0.05% | Open account |
Bank when and where you want.
With mobile and online banking, two convenient branches on campus, access to over 30,000 ATMs, and 5,000 branches nationwide.
Download our highly rated mobile app!4
Always have a way to pay with Mobile Wallet.
Mobile wallets offer a safe, convenient way to pay with your MIT FCU cards. Our debit card can be used with Apple Pay®, Google Pay™, and Samsung Pay®3. Set up is easy and can be done in seconds.
Continue readingWhat could my recurring (monthly) savings grow to?
Different factors can impact the growth of your savings over time such as the frequency of deposits and the rate of compounding. Use this calculator to determine the future value of your recurring savings and any existing balance you might have accumulated.
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