Do you live in Massachusetts? Here are some Massachusetts CD Rates , don't ya know.
Deposit rates all over the United States have plummeted posted. It can be quite challenging to find a 2% at 1-year. But let's search Massachusetts and see what we find.
First we find probably one of the oldest banks in the nation, State Street Bank & Trust Company, Boston. They were started in 1792. That is phenomenal . As of March they had a 4-star rating from Bankrate, but the June numbers are a little concerning. They have a $150 Billion in Assets, but have a $2 Billion loss. March had a $455 Million profit. I sure hope they figure out the problem. I went to their website, but couldn't find any interest rates. So not very helpful for our first MA Bank. FDIC# 14. That is the smallest FDIC# I could still find in existence
Our second bank is Boston Trust & Investment Management Company also in Boston. Boston Trust was established in 1960. Also no rates. Geez, what is up with Massachusetts.
Okay, finally some CD Rates for MA. Rockland Trust Company, Rockland. They aren't that good, but it is something. They have 6-months at 1.25% APY and a 2-year CD for 1.75% APY. I've seen worse. They were founded in 1907. They lasted through the Depression. They deserve credit for that. FDIC# is 9712. They even have a profit. Wohoo!!! They have a 3-star rating.
Westfield Bank (also in Westfield) actually has some pretty high CD rates. Established in 1853. They have a 4-star rating. For $500,000 you can earn 2.00% or 1.60% APY for $100,000 in a checking account. The CD Rates: 11 Month Special -- 1.75%, 16 Month Special -- 2.00% APY, 30 Month Special -- 2.20% APY and 48 Months -- 2.90%.
Salem Five Cents Savings Bank, Salem. Founded in 1855. I guess having all of these old banks in one of the original 13 colonies isn't that odd. Sadly, their CD yields aren't too impressive; 1-year 1.25% APY and 2-year 1.50%. Bankrate gives them 3-stars. Those rates require $10,000. Ouch.
United Bank, Westfield. Established in 1882. The best rate they have is a 5-year CD at 3.00%. Not bad for the times, just awful to think about locking your money up for so long at such a low rate. I wonder what their Early Withdrawal Penalty is. They do have a 4-star rating.
That about does it for the
Highest CD Rates in MA. Let me know if you find some good deals.
Check-out:
FL CD Rates
And here is a helpful site on
BBT Banking
Disclaimer: Rates can and do change at anytime. Ratings are not a guarantee of future bank health. Matter of fact, they are based on data that is about 6-months old. Lots can (and does) change in 6-months.
