bank rates

12-Month CDs Haven’t Paid This Much In Nearly 5 Years

Usually, a top yield increasing by a single basis point isn’t much to crow about.

But it carries a little more excitement when the boost comes from a bank that’s never been in our rankings before, or that even offered national CDs until recently.

Country Bank has been serving central and western Massachusetts for about 35 years. But when it unveiled an online account opening system late last summer, it opted to make its accounts available to any U.S. resident.

The reason Country Bank became an exciting blip on our radar this week is that it launched an impressive promotional CD, outpaying the best nationally available 12-month return from all the banks on our CD Rates Leaderboard.

Even better, at 1.36% APY Country Bank’s yield is the highest leading rate we’ve seen for the term since June 2011.

Since last July, the top-billed 12-month return has yoyo’d between 1.30% and 1.35% APY, sinking again last week to 1.30% APY.

A move up to 1.36% APY is, of course, not substantial. But given the disappointing dearth of rate increases lately – especially when we’d been hoping for the opposite in the wake of the Federal Reserve’s December rate hike – we’ve learned to content ourselves with any good news for savers.

Country Bank’s 12-month certificate of deposit requires a $25,000 minimum investment and can be opened online, by mail or at one of the bank’s 14 Massachusetts branches.

In an added bonus, Country Bank will donate $25 per new account to a local food pantry.

For national 1-year CDs, it doesn’t get better than this.

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