Banking and CD Rates in the Berkshires

Berkshire Hills Bancorp is a regional financial services company with assets of approximately $2.5 billion.  Berkshire Hills Bancorp, Inc. is the holding company for Berkshire Bank.  Established in 1846, Berkshire Bank is one of Massachusetts’ oldest and largest independent banks and the largest banking institution based in Western Massachusetts. The Bank is headquartered in Pittsfield, Massachusetts with branches serving communities throughout Western Massachusetts, Northeastern New York and Southern Vermont.

The bank offers numerous products and services to its retail and commercial markets with deposit products, loan, insurance, mortgages, commercial loans, internet banking, wealth management and trust services, and investment products.
 
Along with the $2.5 billion in total assets, Berkshire Hills Bancorp has $781 million in assets under management, 38 branches in Western MA, Eastern NY, and Southern VT.  The bank is the largest bank headquartered in Western MA.  The bank is the only locally headquartered regional bank in this primary market.

Current bank CD rates.

3 month CD rate 0.755 APY.
6 month CD rate 1.50% APY.
One year CD rate 1.65% APY.
18 month – two year CD rate 1.75% APY
30 month CD rate 1.85% APY.
Three year CD rate 2.75% APY.
Four year CD rate 2.75% APY.
Five year CD rate 2.75% APY.

The bank also offers the following special CD rates.

18 month Popup CD rate 2.25% APY.
13 month CD rate 2.25% APY
25 month CD rate 3.005 APY
37 month CD rate 3.50% APY.
Five year CD rate 4.00% APY.
And a 6 month “smart money” CD with an interest rate of 2.00% APY.
This 6 month CD earns a rate of 2.00% APY and allows the CD accountholder the option of making one withdrawal, penalty free after thirty days.

The bank allows for additional deposits, in the minimum of $250.00, to be made to CDs with terms of 18 months or less during the first six months.

The bank supplements the value of large depositors with vale added interest bearing checking account.  The Classic Checking account is an interest-bearing account with benefits for those accountholders who maintain a minimum daily balance of $20,000.00 in checking, savings, money market and CDs in which the bank and we’ll waive the $12 monthly service fee, plus the accountholder will receive free checks, and more.

CD rates are subject to fluctuation prior to opening the bank CD at which time they remain fixed for the term of the CD.  For more information including current CD rates, stop by the nearest Berkshire Bank branch or call 1-800-773-5601 and speak with a financial services representative.  Additional data and current savings rates is available on the bank website at www.berkshirebank.com.

Tags: Banks, Berkshire Bank, CD rates, CD rates Massachusetts, Massachusetts bank, one year CD rate, rates

This entry was posted on Sunday, January 25th, 2009 at 6:34 pm and is filed under Bank Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.