The best CD rates in Massachusetts moved with the speed of the three-toed sloth, that this to say they were mostly unchanged from the previous week.  This is not necessarily a bad thing.  Most of the highest CD rates in Massachusetts exceed the rates offered on the best national rates, the one exception being the rates on the one year term certificates of deposit. 

The best six month CD rate in Massachusetts is unaltered with the extended nine month term CD of Hyde Park Savings bank that has an interest rate of 2.55%.  The second position is also a nine month term CD that is a product of Danversbank and has an interest rate of 2.50%.  Institution for Savings remains in third position with a nine month CD that earns a rate of 2.25%.  Needham Bank, Trustco Bank and Easthampton Savings Bank round out the list with the last position being held by Easthampton with a six month CD rate of 2.10%.

The best one year CD rates in Massachusetts are a mix of longer term 18 month CDs and strict one year maturity CDs.  The highest CD rates is an 18 month CD marketed by Hyde Park Savings Bank that has an interest rate of 2.65%.  The next best CD rate is at 3.50% is being offered by three different banks, First Republic Bank, Danversbank and Commerce Bank and Trust.  BankFive follows with an 18 month CD that has an interest rate of 2.35%.  The list ends with Marlborough Savings Bank’s one year CD rate of 2.32%.

The best two year CD rates in Massachusetts remained stagnant for the week.  The best two year CD rates do, however remain above the best national rates.  First Republic Bank and Patriot Community Bank continue to offer two year CD with rates at 3.00%.  BankFive replaces Bank of Fall River with an identical two year CD rate of 2.85% for the week.  Three banks continue to offer two year CD rate at 2.75% to round out the list, Institution for Savings, Mechanics Cooperative Bank and HomeTown National Bank.

The best five year CD rates in Massachusetts showed very little activity for the highest rates but saw some reductions in rates further down the list for the week.  The top five year CD rate continues to be promoted by First Republic Bank with a rate of 4.00%.  The runner up’s interest rate remains the same at 3.82% but the bank issuing the CD has changed.  Bank of Fall River is now offering this rate on their five year CD.  Mechanics Cooperative Bank is a distant third place with a five year CD rate of 3.50%.  River Bank, Mt. Washington Bank and BankFive close out the list with five year CD rates of 3.30%.

Tags: , , , , , , , , , , , , , , , , ,

No user commented in " Massachusetts CD Rate Update May 1, 2009 "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)