According to a recent Primerates.com survey conducted on December 26, 2011 of Boston certificate of deposit rates offered by the area banks & credit unions largest financial institutions offered short-term savers 6 month CD’s with rates between 0.05% at RBS Citizens (www.citizensbank.com) and Eastern Bank (www.easternbank.com) and 0.45% at Middlesex Savings Bank (www.middlesex.com). Middlesex Bank also offers the highest rates for all longer-term CD maturities, ranging from .75% 1-year CD’s to 1.79% for a 5-year CD.
CD’s are typically insured up to $250,000 by the FDIC. As CD’s mature, banks typically re-price the rates on deposits. Make sure that you track when your CD’s mature so that you can roll them over into new CD’s and keep your money working as hard as possible.
| Banks | 6 month | 1 year | 2 year | 3 year | 4 year | 5 year |
| Bank of America | 0.20% | 0.35% | 0.40% | 0.60% | 0.85% | 1.19% |
| RBS Citizens | 0.05% | 0.05% | 0.25% | NA | NA | 1.00% |
| Sovereign Bank | NA | 0.20% | 0.20% | 0.30% | NA | NA |
| TD Bank | 0.30% | 0.20% | 0.80% | 0.90% | 1.00% | 1.74% |
| Eastern Bank | 0.05% | 0.10% | 0.20% | 0.30% | 0.40% | 0.50% |
| Middlesex Savings Bank | 0.45% | 0.75% | 1.05% | 1.44% | 1.64% | 1.79% |
| Rockland Trust | NA | NA | 1.00% | 1.24% | 1.34% | 1.49% |
| Century Bank and Trust | 0.25% | 0.35% | 0.50% | 0.80% | 0.90% | 1.00% |
| Danversbank | 0.25% | 0.40% | 1.00% | 1.30% | 1.50% | 1.70% |
Rates from banks, thrifts and credit union were posted on their websites on the date indicated for a $10,000 certificates of deposit meeting the specific holding requirement. Data is believed accurate at time of collection, can change without notice, and will vary. Contact a specific institution for current rates.
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