Massachusetts

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Somerville, Massachusetts CD Rates – 6-Month 2020

Below are the best six-month CD Rates from banks with branches in Somerville, Massachusetts . Six month CDs are considered short-term cds and the yield is comparable to savings and money market rates. You may want to consider opening a 6 month CD if you are concerned about savings rates dropping and don’t mind locking up your money for six months.

Somerville, MA - June 3, 2020

6 Month CD National Average : 0.34% ?

Advertiser Disclosure
Banks APY MIN MILES ?
1.50% $1,000 4796.98 Learn More
1.01% $10 4759.17 Learn More
1.00% $500 4779.25 Learn More
1.00% $500 4864.69 Learn More
0.90% $2,500 4768.35 Learn More
0.85% $10 4777.08 Learn More
0.80% $5,000 4757.67 Learn More
0.80% $1,000 4770.86 Learn More
0.75% $2,500 4773.44 Learn More
0.75% $1,000 4810.58 Learn More
0.65% $1,000 4705.98 Learn More
0.60% $500 4792.19 Learn More
0.60% $1 4768.93 Learn More
0.55% $500 4788.34 Learn More
0.55% $500 4776.50 Learn More
0.51% $10 4798.50 Learn More
0.50% $500 4733.01 Learn More
0.50% $1 4764.14 Learn More
0.50% $1,000 4800.43 Learn More
0.50% $1,000 4790.68 Learn More
0.50% $1 4774.05 Learn More
0.50% $1,000 4756.67 Learn More
0.50% $500 4798.16 Learn More
0.50% $2,500 4773.98 Learn More
0.50% $1,000 4776.47 Learn More
0.50% $10 4790.39 Learn More
0.50% $10 4777.19 Learn More
0.50% $500 4772.74 Learn More
0.45% $1,000 4792.55 Learn More
0.45% $5,000 4752.00 Learn More
0.45% $2,500 4792.55 Learn More
0.45% $1,000 4764.92 Learn More
0.45% $500 4781.91 Learn More
0.45% $1,000 4787.65 Learn More
0.45% $2,500 4798.79 Learn More
0.45% $1,000 4777.12 Learn More
0.40% $2,500 4758.70 Learn More
0.40% $500 4771.70 Learn More
0.40% $500 4816.38 Learn More
0.40% $1,000 4762.38 Learn More
0.40% $1,000 4779.32 Learn More
0.40% $2,500 4763.88 Learn More
0.35% $1,000 4764.83 Learn More
0.35% $2,500 4768.67 Learn More
0.35% $500 4789.09 Learn More
0.35% $2,500 4784.66 Learn More
0.30% $500 4816.04 Learn More
0.30% $500 4772.38 Learn More
0.30% $1,000 4769.59 Learn More
0.30% $500 4771.70 Learn More
0.30% $1,000 4779.90 Learn More
0.30% $1,000 4811.63 Learn More
0.30% $10 4863.42 Learn More
0.30% $500 4759.95 Learn More
0.30% $2,500 4792.37 Learn More
0.30% $500 4786.05 Learn More
0.30% $500 4792.27 Learn More
0.30% $1,000 4768.75 Learn More
0.25% $500 4828.92 Learn More
0.25% $1,000 4796.87 Learn More
0.25% $1,000 4772.94 Learn More
0.25% $1 4769.55 Learn More
0.25% $10 4746.11 Learn More
0.25% $500 4836.52 Learn More
0.25% $10 4874.62 Learn More
0.25% $10 4778.85 Learn More
0.25% $1,000 4859.59 Learn More
0.25% $2,500 4781.12 Learn More
0.25% $2,500 4760.93 Learn More
0.25% $1,000 4860.19 Learn More
0.25% $20 4777.17 Learn More
0.25% $1 4756.59 Learn More
0.20% $2,000 4749.80 Learn More
0.20% $1,000 4772.91 Learn More
0.20% $500 4844.19 Learn More
0.20% $10 4844.14 Learn More
0.20% $500 4859.58 Learn More
0.20% $100,000 4767.27 Learn More
0.20% $500 4750.86 Learn More
0.20% $500 4788.13 Learn More
0.20% $500 4865.88 Learn More
0.20% $1,000 4826.00 Learn More
0.15% $500 4767.27 Learn More
0.15% $500 4770.33 Learn More
0.15% $500 4778.66 Learn More
0.15% $1,000 4767.42 Learn More
0.14% $2,000 - Learn More
0.13% $100,000 4823.52 Learn More
0.10% $500 4786.89 Learn More
0.10% $200 4796.98 Learn More
0.10% $2,500 4771.14 Learn More
0.10% $1,000 4775.69 Learn More
0.10% $1 4833.91 Learn More
0.10% $1,000 4793.19 Learn More
0.10% $500 4770.33 Learn More
0.10% $1,000 4828.53 Learn More
0.10% $500 4754.02 Learn More
0.10% $1,000 4764.04 Learn More
0.10% $10,000 4844.18 Learn More
0.10% $1,000 4775.42 Learn More
0.10% $2,500 4733.68 Learn More
0.08% $1,000 4823.52 Learn More
0.05% $2,500 4773.15 Learn More
0.05% $10,000 4828.52 Learn More
0.05% $500 4786.31 Learn More
0.05% $2,500 4769.92 Learn More
0.05% $500 4864.69 Learn More
0.03% $10,000 4772.95 Learn More
0.01% $10,000 4764.04 Learn More
All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

6 Month Branch Certificates of Deposit 2020

Six month certificates of deposit (CDs) provide depositors with a short term vehicle for keeping money safe and earning interest. With a six month CD, depositors agree to leave their money in the account for six months in return for a fixed rate of interest over this period. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.

In general, almost all brick-and-mortar banks provide CDs to their consumers. Opening one involves taking a trip to the branch although some banks allow CDs to be opened via the phone or online. In general, local banks discourage depositors from out-of-state to open accounts, although this is not a hard rule and if you see an attractive rate from a bank in another state, it is worth investigating the account opening policy. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.

The advantages of six month CDs opened via a traditional bank are:

  • Funds deposited in FDIC banks and within insurance limits are protected by the full faith and credit of the United States government.
  • CDs provide a predictable, set rate of return.
  • Depositors can walk into a local branch and open the CD and fund it that day. Question and inquiries can also be handles in-person.

The disadvantages of six month CDs are:

  • Six month CDs currently pay interest rates significantly below many online and branch-based savings and money market accounts.
  • The deposited money is committed for six months.
  • Six month CDs from traditional banks often pay less interest than from online banks.

When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.

All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

SAVINGS & CD CALCULATOR

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