First Commons Bank Offering 1.5% APY 13-Month Breakable CD

Rate information contained on this page may have changed. Please find latest cd rates.

First Commons Bank, a new bank located in Newton, MA is offering a 1.5% APY on a 13-month breakable CD.

First Commons Bank, a new bank located in Newton, MA is offering a 1.5% APY on a 13-month breakable CD. The rate of 1.5% APY is competitive when comparing it to the best cd rates for a 12 month term, although it is near the bottom of the rate table. But what makes the CD attractive is that it offers a one-time withdrawal, penalty free. The best savings and money market rates are currently between 1.5 - 1.8% APY, putting this CD within that range.

The CD requires a minimum deposit of $10,000.

 After visiting their website, it quickly became apparant that there is no way to open the CD online. I called and was told that they would be happy to open the CD via phone, fax, or mail. The offer is available nationally. To open via phone call 617-243-4400.

First Commons Bank opened its doors in September 2009. The bank was capitalized by over 300 investors who contributed $18 million. In a short period of time it has attracted 55 MM in assets. It currently has one branch in Newton, MA, an affluent suburb outside of Boston.

The bank is nationally chartered and FDIC insured. Because the bank just began operation, there is no Bauer rating available yet.

Your code to embed this article on your website* :

*You are allowed to change only styles on the code of this iframe.

Today's Highest Online CD Rates

Bank Product Term Interest Rate (APY)
Bank5 Connect 1-Year 2.85% APY with $500 minimum
M.Y. Safra Bank 1-Year 2.51% APY with $500 minimum
Ally Bank 1-Year 2.50% APY with $25,000 minimum
Connexus 3-Year 3.26% APY with $5,000 minimum
Pentagon 3-Year 3.25% APY with $1,000 minimum
Bank5 Connect 3-Year 3.20% APY with $500 minimum
Bread Savings, a division of Comenity Capital Bank 5-Year 3.65% APY with $1,500 minimum
Popular Direct 5-Year 3.40% APY with $10,000 minimum
M.Y. Safra Bank 5-Year 3.26% APY with $500 minimum

See More Online CD Rates →


Add your Comment