We were recently tipped off on a nice 15 month promotional CD (certificate of deposit) being offered through Country Bank for Savings. We believe this to be the highest yielding CD for a 15 month duration in the country (if you know of a higher yield, please share!).
Currently when you invest a minimum of $500 into Country Bank for Savings “15 Month Relationship Certificate” you can earn an extremely competitive APY of 2.25%.
As with most promotional CD offers there is somewhat of a catch. With this particular offer you must also hold a $1,000 monthly average balance in a CBS checking account with monthly direct deposit(s) in any deposit account.
Other Promotional Offers available through Country Bank for Savings with qualifying CBS Checking Account:
- 6 month CD yielding 1.85% APY with minimum deposit of $500 required
- 24 month CD yielding 2.50% APY with minimum deposit of $500 required
Without opening one of their CBS checking accounts you can still obtain decent deposit rates. Their CD rates for standard CDs are as follows:
| CD – 5 month (152 days) |
1.49 | 1.50 | |
| CD – 6 month (182 days) |
1.59 | 1.60 | |
| CD – 9 month (273 days) |
1.50 | 1.50 | |
| CD – 11 month (334 days) |
1.74 | 1.75 | |
| CD – 1 year |
1.74 | 1.75 | |
| CD – 15 month |
1.98 | 2.00 | |
| CD – 2 year |
2.23 | 2.25 | |
| CD – 3 year |
2.23 | 2.25 | |
| CD – 4 year |
2.47 | 2.50 | |
| CD – 5 year |
2.47 | 2.50 | |
Country Bank for Savings is located in Massachusetts and was originally established in 1850 (FDIC member since 1982; FDIC # 23992). Despite being ancient when compared to other community based banks and credit unions, Country Bank for Savings remains a relatively small institution. They control just under $1.5 billion in total assets and are just barely within the top 20 largest banks in the state of MA.
They have an A+ rating with BBB and have just one registered complaint recorded. The complaint details aren’t listed other than that it has something to do with their service.
Our Take:
Decent rate for a term less than 2 years, but we would still recommend going even longer if possible. Deposit rates are going to continue to dwindle before flat-lining in the coming years and locking in a long term deposit with a favorable interest rate now will end up being a smart move down the line.
