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The Best Short Term CD Rate in Massachusetts »

Best CD Rate in Massachusetts, November 21, 2008

A little late with the post, this is the same ad that is running in several newspapers nationwide by Sovereign Bank. Here we find it in the November 20, 2008 issue of the Boston Globe. Sovereign Bank runs this advertisement promoting two different CD terms and a money market account. The first CD is for a 9 month term with an interest rate of 4.00%. The second CD is for a term of one year with an interest rate of 4.25%. The one year CD is the best one year CD presently being offered in Massachusetts. The 9 month is extremely competitive but is eclipsed by a few local banks including Needham Bank which promotes a 9 month CD with an APY of 4.05%, the best 9 month CD rate in Massachusetts. Sovereign Bank advertises a high yielding money market account along with CD accounts. The money market account has a present interest of 3.75%. The money market account rate is also the highest rate offered in Massachusetts. Along with the great rates, Sovereign Bank minimum balance for the CD accounts is $500.00. The money market account requires a healthy $75,000.00 minimum balance. Rates subject to change, for current rate information call a local bank representative at 877-768-2265. The bank web address is www.sovereignbank.com. Headquartered in Wyomissing, PA, Sovereign is one of the largest banking institutions in the Northeastern United States, with 750 branches, and more than 2,300 ATMs.

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