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Massachusetts CD Rates 2016

Below are the best one year CD Rates from banks in Massachusetts. One year CDs are usually the most popular term and offer a decent yield without having to lock-up money for an extended period of time. One year CD Rates are generally comparable to or a little higher than their savings and money market counterparts.

MA - December 8, 2016

1 Year CD National Average : 0.38% ?

Bank APY MIN MILES ?
Coastal Heritage Bank 1.25% $10 -
Patriot Community Bank 1.25% $1,000 -
Needham Bank 1.10% $1,000 -
Middlesex Savings Bank 1.05% $10 -
Hingham Institution For Savings 1.01% $500 -
Mansfield Co-operative Bank 0.90% $1,000 -
Oneunited Bank 0.90% $1,000 -
Winchester Co-operative Bank 0.80% $500 -
Georgetown Bank 0.80% $1,000 -
Colonial Co-operative Bank 0.80% $40,001 -
Family Federal Savings, F.a. 0.75% $1,000 -
Institution For Savings In Newburyport And Its Vicinity 0.75% $1 -
Melrose Co-operative Bank 0.75% $500 -
Sage Bank 0.75% $1,000 -
Rollstone Bank & Trust 0.70% $10,000 -
Colonial Co-operative Bank 0.70% $10,001 -
The Savings Bank 0.70% $1,000 -
Salem Five Cents Savings Bank 0.70% $10,000 -
Meetinghouse Bank 0.65% $1,000 -
Norwood Co-operative Bank 0.65% $1,000 -
The Cooperative Bank 0.65% $1,000 -
Family Federal Savings, F.a. 0.65% $500 -
North Brookfield Savings Bank 0.60% $500 -
Pilgrim Bank 0.60% $1,000 -
Country Bank For Savings 0.60% $500 -
Northern Bank & Trust Company 0.60% $500 -
Bank Of New England 0.60% $500 -
First Republic Bank 0.60% $10,000 -
Wakefield Co-operative Bank 0.55% $500 -
Stonehambank, A Co-operative Bank 0.55% $1,000 -
Mutualone Bank 0.55% $500 -
Colonial Federal Savings Bank 0.50% $1,000 -
Savers Co-operative Bank 0.50% $500 -
Spencer Savings Bank 0.50% $500 -
Dedham Institution For Savings 0.50% $1,000 -
Northmark Bank 0.50% $500 -
Haverhill Bank 0.50% $500 -
Bank Of Easton 0.50% $500 -
Wrentham Co-operative Bank 0.50% $500 -
Clinton Savings Bank 0.50% $10 -
Methuen Co-operative Bank 0.50% $1,000 -
The Village Bank 0.50% $1,000 -
Century Bank And Trust Company 0.50% $1 -
Marlborough Savings Bank 0.50% $1,000 -
Wellesley Bank 0.50% $250 -
Baycoast Bank 0.50% $10 -
Mountainone Bank 0.50% $10 -
Pentucket Bank 0.50% $500 -
Middlesex Federal Savings, F.a. 0.50% $1 -
Winter Hill Bank, Fsb 0.50% $1,000 -
North Shore Bank, A Co-operative Bank 0.50% $1,000 -
Beverly Bank 0.50% $500 -
Avidia Bank 0.50% $1,000 -
Millbury Savings Bank 0.46% $500 -
Millbury National Bank 0.46% $500 -
Boston Private Bank & Trust Company 0.45% $100,000 -
North Easton Savings Bank 0.45% $500 -
Dean Co-operative Bank 0.45% $500 -
Webster Five Cents Savings Bank 0.45% $10 -
The Cape Cod Five Cents Savings Bank 0.45% $1,000 -
Foxboro Federal Savings 0.45% $1,000 -
Abington Bank 0.45% $500 -
Newburyport Five Cents Savings Bank 0.45% $500 -
North Middlesex Savings Bank 0.45% $500 -
Monson Savings Bank 0.45% $1,000 -
East Boston Savings Bank 0.45% $1,000 -
Commerce Bank & Trust Company 0.45% $1,000 -
Hometown Bank, A Cooperative Bank 0.45% $500 -
Winchester Savings Bank 0.45% $10 -
Northeast Community Bank 0.45% $1,000 -
The Lowell Five Cent Savings Bank 0.45% $500 -
Td Bank, National Association 0.45% $100,000 -
Washington Savings Bank 0.41% $500 -
Unibank For Savings 0.41% $500 -
East Cambridge Savings Bank 0.40% $1,000 -
Rockland Trust Company 0.40% $1,000 -
Adams Community Bank 0.40% $10 -
The Edgartown National Bank 0.40% $500 -
Enterprise Bank And Trust Company 0.40% $500 -
Bristol County Savings Bank 0.40% $5,000 -
Bay State Savings Bank 0.40% $1,000 -
Cape Cod Co-operative Bank 0.40% $500 -
Mutual Bank 0.40% $100 -
Nbt Bank, National Association 0.40% $1,000 -
Commerce Bank & Trust Company 0.40% $1,000 -
Florence Bank 0.40% $500 -
Fall River Five Cents Savings Bank 0.40% $500 -
Greenfield Savings Bank 0.40% $10 -
Greenfield Co-operative Bank 0.40% $500 -
Athol Savings Bank 0.40% $500 -
Mechanics Cooperative Bank 0.40% $500 -
Bridgewater Savings Bank 0.40% $2,000 -
Commonwealth Co-operative Bank 0.40% $1,000 -
Avon Co-operative Bank 0.40% $1,000 -
Boston Private Bank & Trust Company 0.40% $1,000 -
Salem Co-operative Bank 0.40% $500 -
South Shore Bank 0.40% $1,000 -
Harborone Bank 0.40% $1 -
People's United Bank, National Association 0.35% $500 -
The National Grand Bank Of Marblehead 0.35% $1,000 -
Easthampton Savings Bank 0.35% $1,000 -
Randolph Savings Bank 0.35% $1,000 -
Holbrook Co-operative Bank 0.35% $1,000 -
Martha's Vineyard Savings Bank 0.35% $1,000 -
Blue Hills Bank 0.35% $10 -
The Bank Of Canton 0.35% $1,000 -
Leader Bank, National Association 0.35% $1,000 -
Fidelity Co-operative Bank 0.35% $500 -
Canton Co-operative Bank 0.35% $1,000 -
Marblehead Bank 0.35% $500 -
The Braintree Co-operative Bank 0.35% $1,000 -
First Ipswich Bank 0.35% $1,000 -
Cambridge Savings Bank 0.35% $1,000 -
People's United Bank, National Association 0.30% $500 -
Westfield Bank 0.30% $20 -
Weymouth Bank 0.30% $1,000 -
Cambridge Trust Company 0.30% $1,000 -
The Pittsfield Co-operative Bank 0.30% $500 -
Merchants Bank 0.30% $500 -
Milford Federal Savings And Loan Association 0.30% $1,000 -
Brookline Bank 0.30% $1,000 -
Td Bank, National Association 0.30% $10,000 -
Farmington Bank 0.25% $500 -
Radius Bank 0.25% $500 -
Belmont Savings Bank 0.25% $500 -
Salem Five Cents Savings Bank 0.25% $500 -
Southbridge Savings Bank 0.25% $500 -
Lee Bank 0.25% $500 -
Reading Co-operative Bank 0.25% $500 -
United Bank 0.25% $500 -
Salisbury Bank And Trust Company 0.25% $1,000 -
The Provident Bank 0.20% $500 -
The Milford National Bank And Trust Company 0.20% $1,000 -
Charles River Bank 0.20% $1,000 -
Keybank National Association 0.15% $10,000 -
Peoplesbank 0.15% $1,000 -
Berkshire Bank 0.15% $1,000 -
Webster Bank, National Association 0.10% $2,500 -
Santander Bank, N.a. 0.10% $10,000 -
Watertown Savings Bank 0.10% $1,000 -
Eastern Bank 0.10% $10 -
Bank Of America, National Association 0.07% $10,000 -
Bank Of America, National Association 0.05% $10,000 -
Trustco Bank 0.05% $500 -
Citizens Bank, National Association 0.03% $1,000 -

BestCashCow strives to maintain the most accurate rates. If you find a rate that is not accurate, please let us know by commenting below so that we can update it. Thank you for your help.

PRODUCT INFORMATION

Certificates of Deposit - Branch Banks 2016

A certificate of deposit (CD) is a savings product offered by a bank in which a depositor (someone who has money to put into the bank) agrees to commit a certain amount of money for a set period of time, in return for a fixed rate of interest. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.

CD Terms

The time period in which money is held in a certificate of deposit is called the term. Terms can run for any period of time but in general, banks use the following terms: 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months. Terms can either be described in months or years. The term that is right for each individual depends on their goals, the rate they which to earn, and their future plans for the money. In general, if rates are going up, savers should avoid putting the money into a long-term CD. If rates are going down, then the opposite is true, and savers should try and lock into a good rate for an extended period of time. In stable rate environments, CDs that are over 12 months in length can enable depositors to pick up a slight premium over savings accounts.

CD Risk

Almost all banks provide CDs to their consumers and they have been a mainstay of savers and retirement accounts for years. If FDIC insured, the CD represents a safe place to put money that will generate a predictable return.

Inflation is the main risk of a CD. Inflation can often run higher than the inflation adjusted return on a CD, thus eroding the value of the money stored in the CD over time. This is especially true for longer-term CDs opened in low interest rate environments.

How Interest is Paid

The method of distributing the interest earned on a CD varies by bank. Some banks pay interest monthly, other semi-annually, and others at the maturity of the CD. One advantage of a branch-based bank is that a depositor can walk into the bank and receive their interest that day in the form of a check. Online banks tend to use electronic funds transfer or check via mail.

Interest Rate

Since the financial crisis in 2008, CDs have become less popular because the yields they offer have dropped precipitously, making it difficult for retirees and savers to generate sufficient income. But investors looking for a place to stash some cash might still find CDs an attractive place for some of their savings. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.

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.

ADVANTAGES AND DISADVANTAGES

The advantages of a Certificate of Deposit from a branch 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 branch-based CDs are:

  • The deposited money is committed for a certain period of time and can only be withdrawn with substantial penalties.
  • One year CDs from branch banks often pay less interest than from online banks. Please see those rates here.

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, you visit the FDIC website.

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

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  • Max

    June 07, 2016

    The Chase rates are not correct, in fact Chase never heard of these rates, if they are correct please inform Abilene and Dallas, I could use the rate as small as it may be, but better than most, if they exist. Thanks

  • joan

    June 06, 2016

    florida community bank 1.40% -9 months good all of june 2016

  • Tammie H.

    April 19, 2016

    Hello,

    I was just wondering if the rates posted on this site were current?

    I noticed at the top it does have todays date.

    Thank you.

  • boo

    April 13, 2016

    rates suck

  • Dan

    March 14, 2016

    The local offerings are there. Just put in your zip code. Click the link that says: Change zip.

  • F Jamees

    March 14, 2016

    Where are the local offerings of 71913. They use to be for local banks, we miss them. F James

  • Larry Triemer (ltriemer@yahoo.com)

    March 02, 2016

    I stopped receiving my weekly bank rates and wanted you to resume sending them. I registered today, again, using my work e-mail and would like for you to send them to the abovementioned e=mail address.

    Thank you,

    Larry Triemer+

  • jim

    February 12, 2016

    bank of Ontario (Ontario wi) offering 1 year ira cd for 1.9%

  • mike

    February 07, 2016

    Why can banks 100 miles away offer rates 5 to 6 time higher on a one year CD , seems banks and or there management in this area simply refuse to be competitive and show no respect for the people , neighbors and area they live and work in.

  • Braun

    December 30, 2015

    @Brian. Click the tabs at the top. You can choose the rate term you want.

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