Best 15 month CD rates paying 2.25% APY

January 20, 2010 No Comments »

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.

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