Do you live in Massachusetts? Here are some Massachusetts CD Rates , don’t ya know.
CD yields all over the nation have just been pummeled. It can be challenging to find a 2% for 1-year CDs. But let’s search Massachusetts state and see what we find.
First we find is probably one of the oldest banks in the US, State Street Bank & Trust Company, Boston. They were created in 1792. That is amazing. As of March they had a 4-star rating from Bankrate, but the June numbers are a little concerning. They have a $150 Billion in Assets, but show a loss of $2 Billion. March had a $455 Million profit. Boy, I hope they plug the leak. I went to their site, but couldn’t find any Certificates of Deposits interest rates. So not very helpful for our first MA Bank. Their FDIC number is 14.
Our second bank is Boston Trust & Investment Management Company also in Boston. Boston Trust was established in 1960. They don’t have any CD yields. Geez, what is up with Massachusetts.
Okay, finally some Deposit interest rates for Massachusetts. Salem Five Cents Savings Bank, Salem. Startedin 1855. I guess having all of these old banks in one of the original 13 colonies isn’t that strange. Sadly, their CD rates aren’t too impressive; 1-year 1.25% APY and 2-year 1.50%. Bankrate gives them 3-stars. Those rates require $10,000. Ouch.
Rockland Trust Company, Rockland. They aren’t that good, but it is something. They have 6-months at 1.25% APY and a 2-year CD for 1.75% APY. I’ve seen worse. They were founded in 1907. They lasted through the Depression. They deserve credit for that. FDIC# is 9712. They even have a profit. Wohoo!!! They have a 3-star rating.
United Bank, Westfield. Established in 1882. The best rate they have is a 5-year CD at 3.00%. Not bad for the times, just awful to think about locking your money up for so long at such a low rate. I wonder what their Early Withdrawal Penalty is. They do have a 4-star rating.
Westfield Bank (also in Westfield) actually has some highest CD Rates in MA . Founded in 1853. They have a 4-star rating. For $500,000 you can earn 2.00% or 1.60% APY for $100,000 in a checking account. The CD Rates: 11 Month Special — 1.75%, 16 Month Special — 2.00% APY, 30 Month Special — 2.20% APY and 48 Months — 2.90%.
That about does it for MA CD Rates. Let me know if you find some good deals.
Check-out: FL CD Rates
Disclaimer: Rates can and do change at anytime. Ratings are not a guarantee of future bank health. Matter of fact, they are based on data that is about 6-months old. Lots can (and does) change in 6-months.
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