Needham Bank has a mid-term CD rate promotion underway for savers and investors in Massachusetts.  The bank is offering a 15 month term certificate of deposit that earns the account holder a rate of return of 1.50%.  The interest rate currently offered is more than seven times the national average bank rate on one year certificates and four times the national average rate found on two year CD accounts.

Needham Bank is a Massachusetts based bank that serves Boston and the neighboring communities.  The bank is headquartered in Needham, MA with additional full service branch offices in Ashland, Dedham, Dover, Medfield, Millis, Natick, Wellesley, and Westwood, MA.

The CD rate promotion can also be opened as an IRA CD with same yield.  The minimum deposit for the bank retirement accounts is a low, $250.00.  IRA accounts can be traditional IRA CDs, Roth IRA CDs, or SEP IRA CDs.  Certificates can be opened at one of the local offices or online through the banks web site located at needhambank.com.

In addition to the CD rate promotion, Needham Bank offers several other high yield certificates and IRA accounts in Massachusetts. The bank CD rates are consistently among the top performing accounts available in the Bay State.

Please note the Annual Percentage Yield (APY) stated above is as of March 14, 2016. Minimum balance needed to obtain the stated APY is $1,000.00 and rates are subject to change prior to opening one of the account.  An early withdrawal penalty will apply to this account along with the other CDs marketed by the bank.  Any fees and early withdrawal penalties could reduce earnings.  Additional terms and conditions may apply.

Needham Bank is a member of FDIC and the Massachusetts Share Insurance Fund (SIF). SIF is a private fund owned by the member co-operative banks, which insures all deposits at co-operative banks in Massachusetts above Federal Deposit Insurance Corporation (FDIC) limit.

More information about the bank and bank CD rates can be obtained by visiting the bank web site or by calling the Needham Bank customer service number at 781-444-2100.

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