[Boston,MA] Blue Hills Bank 1.5% APY Account

Offer at a glance

• Availability: Boston branch only at 87 Seaport Boulevard in Boston, Massachusetts
• Hard/soft pull: Soft
• Monthly fees: None
• Insured: FDIC

The Offer

Blue Hills Bank has a special offer to celebrate a new branch opening at 87 Seaport Boulevard in Boston, Massachusetts.

• Get 1.5% APY on their Premier Money Market account

Note, you need to open a Blue Hills checking account in order to be eligible to get this special rate on the Premier Money Market account.

The Fine Print

• Only accounts opened at the new Boston branch qualify for this special rate
• Minimum balance of $10,000 to qualify for this special rate; maximum balance of $2.999M
• 0.45% APY available when minimum daily balance is $3,000,000+; 0.05% APY is available when balance is $10 — $9,999.99
• $25 minimum opening deposit
• Promotional 1.50% APY is available to new customers only or to existing customers who add between $10,000 and $2,999,999.99 in new-to-bank deposits into the Premier Money Market account at our Seaport branch; qualified existing customers must notify us at time of deposit if adding deposits to qualify for advertised APY
• A Blue Hills Bank personal checking account is required to open a Premier Money Market account and to obtain APY advertised, otherwise standard Premier Money Market rates apply

Our Verdict

This deal is obviously highly limited to those in the area or who are visiting the area. 1.5% is an excellent rate for an account without any additional requirements involved. If you’re in the area and have a lot of cash in savings, it’s worth a look.

To me the biggest question is how long the rate will last. We have no idea if it’s a temporary rate for a few months or if it’ll last for year. Maybe they’ll tell you more if you call in. (A reader says that with previous promos in the past, the rate has lasted for years.)

It’s important to note that multiple people have been denied for this account for Chex reasons. It is possible, however, that in-branch account openings won’t have the same level of Chex-stringency. (A reader confirms this as well.)

We’ll add this to the list of Best High-Interest Savings Accounts, check out that post to compare this against other options.

Hat tip to r/churning