bank rates

Boston-Area Deal: 4-Year, 2.5% CD Rates

Institution For Savings offers its deal with a $500 minimum deposit.Institution for Savings is offering 48-month CD rates that beat the top nationally available 60-month deal by more than a quarter of a percentage point.

Massachusetts savers can earn 2.50% APY with a $500 minimum deposit.

That rate is among the highest in the country right now and beats all nationally available bank deals on our CD Rates Leaderboard. (The top 60-month CD rates pay 2.20% APY.)

Institution for Savings also offers top 36-month CD rates. It pays 2% APY. That’s more than a third of a percentage point better than the top nationally available deal.

Still, that deal is half a percentage point lower than when we last reviewed this bank in July.

To purchase certificates of deposit from Institution for Savings (, you must live on Massachusetts’ north shore, which includes Boston.

If you’re not already a bank customer, you must visit a branch in person to buy a CD. Institution for Savings has offices in Ipswich, Newburyport, Rowley and Salisbury.

See how these returns compare with the best CD rates from scores of banks in our extensive database.

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