Savings

Money for your tomorrow.

Whether you're new to saving or an experienced saver, enjoy a wide range of benefits with a Strata Savings account from Butterfield.

Available in both BMD and USD, Strata Savings account holders can expect the same great features we offer with our chequing accounts including:

• Easy access to your funds with a Butterfield Platinum Debit MasterCard
• Use of our ATM network
• Convenient money management through Butterfield Online

Strata Savers also benefit from:

• Lower monthly maintenance fees
• Earn interest on your balance (BMD accounts only)

We Appreciate Our Seniors

If you are over 60, you will enjoy no monthly maintenance or compliance fees.

Open an account and become a client today. Applications can be submitted online through the link below or you can download the form and drop it off at any banking centre. 

Apply Now

Deposit Rates

Save With Certainty

A fixed-rate savings account allows you to save money for a set amount of time with a fixed interest rate that does not change. Once you deposit your money, you won’t be able to access it until your term ends, but you will know exactly how much interest you will earn.

Why Open a Fixed-Term Deposit Account:

• Earn more interest than a standard savings account
• Competitive rates, with flexible options for term length
• Interest is paid quarterly, so you can watch your money grow
• No fees for deposits held to maturity
• Easier to plan for the future
• Great for lump sums

Standard Bermuda dollar fixed-term deposits require a minimum deposit of $5,000 and are available with terms from 1 year to 5 years.

Fixed-Term Deposit Rates
For shorter-term options or options in other currencies, please visit our treasury interest rates page. 

As rates fluctuate, we recommend you confirm the prevailing rate at the time you make your deposit. Certain restrictions apply. Fees and rates are subject to change without notice.

Open an account and start saving for your future today. Applications can be submitted online through the link below or you can download the form and drop it at any banking centre. 

Apply Now

An Investment in Your Child's Future. 

Give your child the gift of financial literacy with Butterfield's Young Savers account - a specialised savings solution designed to nurture smart money habits from an early age.

Our Young Savers account is now open to all children from 0 to 17 and has been relaunched with a competitive interest rate and new features. It also ensures account security and parental oversight. 

Each 'Young Saver' will benefit from:

• A dedicated savings account  
• Interest payments on the money you keep in your account (now 1.5%!) 
• A Platinum Debit MasterCard® (for Young Savers aged 9-17) 
• Access to view your account through Butterfield Online (for Young Savers aged 9-17)
• No coin-counting fees
• A Butterfield piggy bank and/or Vern Plushie. 

Security Features, so parents/guardians can rest easy:

• Debit card daily limits: $50 ATM withdrawals and $300 purchases
• Parental consent required for online banking at age 9 (and we contact you, not your child if something goes wrong)
• Immediate reporting for lost/stolen cards

Educational Advantages:

• Hands-on money management experience
• Regular account statements for tracking
• Supervised banking environment
• Smooth transition to adult banking at 18

How to Apply:

Carefully complete the Young Savers Application Form with your child and bring it to any Butterfield Banking Centre** along with your child and the following supporting documents:

1. Child’s identification (passport or birth certificate)
2. Parent/Guardian’s photo identification
3. Proof of address* (telephone or utility bill)

*If you are an existing client, proof of address may not be required unless your details have recently changed. 

**Young Savers Applications must be completed and delivered in person. Online applications are only available for our Strata Savings and Fixed-Term Deposit accounts.  

When your child reaches 18, their Young Savers account will transition to a full-featured Butterfield Strata Savings Account, offering:

• Removal of daily withdrawal limits
• Full access to online banking services
• Access to additional banking services
• Option to manage account independently
• Opportunity to explore other financial products like credit cards and investments

Visit any Banking Centre before their 18th birthday to ensure a smooth transition to adult banking services.

Terms & Conditions:

• Account holders must be under 18 years of age at the time of account opening
• Parent/Guardian must maintain joint account ownership until the child reaches 18
• Interest rates are subject to change without notice
• Lost or stolen cards must be reported immediately. Fees may apply for card replacement.
• The bank reserves the right to close accounts that do not comply with the terms.

Savings Made Easy.

Supersaver and Supersaver Plus are fixed-term automatic savings plans designed to help you build your savings steadily and securely. General interest rates can change frequently with market volatility, making it hard to build a savings plan with a purpose. However, with our Supersaver plans, your rate is locked in for the duration of the plan - as long as you make sure you have enough set aside to meet your commitment each month. 

Supersaver and Supersaver Plus are fixed-term automatic savings plans that help you steadily build up your savings without having to manually deposit funds every few weeks. By arranging a specified monthly contribution to be automatically transferred from your account into a Supersaver plan, you will enjoy guaranteed and predictable returns, compound interest, and ultimately achieve your savings goals quicker than ever.

With Supersaver & Supersaver Plus, You Get:

• A higher interest rate than a standard savings account
• Flexible term options of 1, 3 or 5 years
• An affordable minimum monthly commitment of $250 
• Earn interest on both the amount you have saved and the interest you have already received
• Receive no early withdrawal penalties for using funds from your Supersaver account to pay down a Butterfield loan or as a down payment on a Butterfield mortgage

Why Choose Supersaver Plus?

Want to jumpstart your savings (and your compound interest gains)? Our new Supersaver Plus option delivers all the great benefits of Supersaver, with the option to deposit between $1,000 and $25,000 at the start of your term and then switch to a more manageable monthly contribution thereafter. Your interest is paid monthly on the entire balance, including your initial deposit, monthly deposits, and any interest earned up to that point. 

With Supersaver, the amount of your initial deposit is the amount you must commit to monthly for the length of the term (breakage fees apply; full Terms and conditions can be found by clicking the link at the bottom of this page). 

Start saving today! Applications can be submitted online through the link below, or you can pick up a form at any banking centre.

Apply Now