More Mass. CD Rates

Avidia Bank is a relatively new Massachusetts bank formed by the merger of two banks.  Avidia Bank was formed in 2007 by the merger between Hudson Savings Bank and Westborough Bank.  Avidia has approximately $1 billion in assets and nine bank branches located in seven towns in central Massachusetts: Hudson, Westborough, Clinton, Leominster, Marlborough, Northborough and Shrewsbury.

Avidia Bank offers certificates of deposits in just about any term needed: from 3 months to 5 years or more.  A minimum deposit of $1,000 is required to open a bank CD.  Interest is posted on the 15thof each month and at the maturity of the CD.  CD interest payments may be transferred to another account, left to accumulate in the CD or sent to the account holder by check monthly, quarterly, semi-monthly or annually.  A penalty will be charged for early withdrawal of principal from the CD.

Avidia Bank CD rates and terms:

3 month CD earns an interest rate of 1.82% APY 
6 month CD rate is 2.17% APY 
12 month CD rate is 2.53% APY
Two year CD has an interest rate of 2.84% APY 
Three year CD yields a rate of 3.10% APY 
Four year CD earns a rate of 3.30% APY 
Five year CD rate is 3.46% APY

Avidia Bank also offers high yielding money market account.  The money market account allows account holders to earn higher money market interest rates while enjoying some check writing privileges.  Money market interest is paid on any balance over $1,000.  Interest is earned on balances of $.01 and higher.  The rate earned on the money market account is tiered: the higher the balance, the higher the interest rate.  If the money market account balance falls below $1,000, this account reverts to the bank’s Value NOW Account interest rate.  The money market account is charged a $5.00 monthly maintenance fee for any statement period when the balance falls below the $1,000.  The money market account allows unlimited over-the-counter withdrawals, but there is a limit of six pre-authorized automatic computer transfers or check withdrawals per statement period.  No more than three of these withdrawals may be to a third party.  The minimum opening deposit is $1,000.  Withthe money market account the account holder can make unlimited deposits, withdrawals or transfers using an ATM (there are some restrictions on accessing money market accounts with a Check Card).

Money market account rates:

Account balance $0.01 – $9,999.99 has an interest rate of .75% APY
Account balance $10,000.00 – $49,999.99 earns a rate of .75% – 1.16% APY
Account balance $50,000.00 – $99,999.99 yields a rate of 1.16% – 1.26% APY
Account balance $100,000.00 or greater rate is 1.26% – 1.45% APY

Bank rates subject to change.  Additional conditions may apply to open these accounts and earn the posted rates.  For current bank rates and CD rates contact a bank representative at 800-508-2265 or 978-562-2222.  Avidia Bank also maintains a web site that holds the latest bank rate information including CD rates, savings rates and checking rates.  The bank web address can be found at www.avidiabank.com.

For car loan rates visit www.selectautorates.com.  For mortgage information visit www.selectcalculators.com.

Tags: 12 month CD rates, 3 month CD rates, 6 month CD rates, Avidia Bank, bank, bank rates, CD rates, CD rates Massachusetts, checking, five year CD rates, Massachusetts bank, money market, savings, three year CD rates, two year CD rates

This entry was posted on Thursday, March 19th, 2009 at 9:35 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.