Best CD Rates in Boston, MA: Top 3

October 3, 2009 No Comments »

Below are the highest yielding CD (certificate of deposit) rates available to the residents of Boston, Massachusetts. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of Boston as well as the state of Massachusetts, we found that for the most part, you will be able to receive slightly better rates with national institutions than with local ones.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Best 6 month CD rates in Boston, Massachusetts:

  • Country Bank for Savings has a 5 month CD as well as a 6 month CD yielding 1.80% APY with a minimum deposit of $500 required. They have locations throughout the state with either branch locations or ATMs in both Boston and Willbraham, MA.
  • Mount Washington Co-Operative Bank has a 6 month CD and a 9 month CD yielding 1.76% APY with a minimum deposit of $500 required. They operate primarily out of Boston, MA.
  • GreyLock Federal Credit Union has a 6 month CD yielding 1.75% APY with a minimum deposit of only $1000 required. They have locations (either branch or ATM) in both Boston and Williamstown, MA.

Best 12 month CD rates in Boston, Massachusetts:

  • American Airlines Federal Credit Union (Boston branch) has a 12 month CD yielding 2.12% APY with a minimum deposit of $10,000 required. This credit union is difficult to join if you work outside of the airlines industry.
  • Workers Credit Union has a 12 month CD yielding 2.10% APY with a minimum deposit of $500 required. They have locations in both Boston and Townsend, MA.
  • GFA Federal Credit Union has a 12 month CD and a 15 month CD yielding 2.05% APY with a minimum deposit of $500 required. They have locations in both Boston and Winchendon, MA.

Best 24 month CD rates in Boston, Massachusetts:

  • First Priority Credit Union has a 24 month CD yielding 2.75% APY with a minimum deposit of $1,000 required. They are headquartered in East Boston.
  • Leominster Credit Union has a 24 month CD yielding 2.75% APY with a minimum deposit of $1k as well. They have locations (either physical branch or ATM) in both Boston and Worcester, MA.
  • Cambridge Portuguese Credit Union has a 24 month CD yielding 2.50% APY with a minimum deposit of $500 required. They have locations in Boston and Somerville, MA.
Digital Federal Credit Union, headquartered in New England, also has some noteworthy savings products available to it’s members.
All of the above institutions are federally insured by either the FDIC or NCUA. If you live in the city of Boston, MA and know of a better interest rate offered through your local bank or credit union, please share by leaving a comment.

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