Massachustts CD and Money Market Rates at Weymouth Bank

Weymouth Bank was established in 1889 and headquartered in Weymouth, Massachusetts.  Weymouth Bank is an independent, mutually-owned community bank.  It is a federally insured bank and is also insured by the Share Insurance Fund of the Co-operative Central Bank.  It offers a wide array of financial products and services ranging from deposits to loan services and investment banking.  The bank offers personal and business products and services including checking accounts, savings accounts and CDs at competitive rates.

The Weymouth Bank money market deposit account earns a high return on deposited funds while still keeping the savings liquid.  The money market account offers a competitive four tiered premium Annual Percentage Yield structure.  The money market deposit account can be opened for as little as $2,500.00.  The interest earned is compounded daily and paid monthly.

The money market account rates are based on the account balance. 
For money market account balances below $2,500 the rate is 0.51% APY
For balances between $2,500 – $24,999 the rate earned is 0.76% APY
Money market account balances that are $25,000 – $49,999 have an interest rate of 1.28% APY 
Balances on the money market account that are $50,000 and greater yield an interest rate of 1.53% APY.

The Weymouth Bank certificate of deposit (CD) offers a higher investment return than the regular passbook, statement savings account or money market account.  Weymouth Bank offer CD’s with terms ranging from 3 months to 5 years in duration.  Bank CD’s of 1 year or longer may be opened with just $1,000.00.  Shorter term bank CD’s require a $5,000.00 minimum deposit.  Annual Percentage Yield is compounded daily and paid monthly.  Accrued CD interest may be withdrawn at any time; however, there is a penalty for early withdrawal of principal.

Current CD rates and terms:

3 month CD rate is 1.28% APY 
6 month CD has an interest rate of 1.53% APY 
9 month CD earns an interest rate of 2.05% APY
One year CD rate is 2.05% APY 
15 month CD has a rate of 2.44% APY 
18 month CD also yields a rate of 2.44% APY 
Two year CD rate is 2.44% APY 
Three year CD has an interest rate of 2.57% APY 
Four year CD also earns an interest rate of 2.57% APY 
Five year CD rate is 2.70% APY

Bank CD rates are subject to change at the banks discretion prior to opening these accounts.  Additional conditions may apply.  For current CD rate and account details call a bank representative at 781-337-8000.  The Weymouth Bank website contains timely bank rate information including bank CD rates, the web address is www.weymouthbank.com.

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This entry was posted on Sunday, April 5th, 2009 at 8:55 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.