We just got tipped off on a sweet bank CD (certificate of deposit) rate offered through Legacy Bank, which serves the state of New York and Massachusetts. This promotional product comes in the form of a 40 month deposit and is yielding 3.50% APY with a minimum deposit amount of $1,000. To put this offer in perspective, the national average for 5 year CD’s sits at roughly 2.80% APY.

Thanks to BankVibe reader Bonnie for tipping us off!

After digging through Legacy Bank’s CD rate page we found a few noteworthy offers. They have a 4 month CD yielding 1.50% APY, a 36 month CD yielding 3.0% APY and a 60 month CD yielding 3.75% APY. All of these CDs come with a minimum deposit of only $1,000.

Because Legacy Bank is a community bank (serving Massachusetts and New York for roughly 120 years) you will most likely need to reside near a physical branch, or atleast be able to stop into one, to open this account.

Branch Locations:

New York: Albany, Greenville, Oak Hill, Latham, Middleburgh, Windham and Whitehall

Massachusetts: Pittsville, Haydenville, Lenox, Lee, Great Barrington and Otis

Contact them at: (800) 292-6634

You may also want to compare this rate with other CD rates in New York and CD rates in Massachusetts.

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