bank rates

Boston-Area Deal: 40-Month, 2% CD Rates

pencil eraser pushing the plus sign on a calculatorInstitution for Savings – known for having higher CD rates – now has a 40-month special for savers in northeastern Massachusetts.

It pays 2.00% APY with a minimum deposit of $500.

That beats the top nationally available 60-month CD rate on our CD Rates Leaderboard by a fifth of a percentage point.

Institution for Savings also has a long-standing deal on 48- and 60-month CDs — they both pay 2% APY.

You have to live on Massachusetts’ north shore, which includes Boston, to buy these certificates of deposit.

If you’re already a bank customer, you can begin the application process for opening a CD over the phone and complete the paperwork by mail. Otherwise, you have to visit a branch in person.

Institution for Savings has offices in Ipswich, Newburyport, Rowley, Salisbury and Topsfield.

Learn more about Institution for Savings at or 978-462-3106.

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

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Comments (4)
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4 Existing Comments
  1. Kathy at Bankaholic said:
    on September 10th at 06:46 am

    The 40-month CD rate has been cut in half — to 1.00% APY. You can still get Institution for Savings’ 48- and 60-month rates of 2.00% APY.

  2. Mike Cetera said:
    on September 13th at 10:50 am

    Institution for Savings is now offering a 30-month CD that pays 2.00% APY.

  3. Kathy at Bankaholic said:
    on October 29th at 10:28 am

    Institution for Savings’ 30-month CD now pays just 1.00% APY, but it has a 36-month CD paying 2.00% APY as well as 48- and 60-month CDs that also pay 2.00% APY.

  4. Kathy at Bankaholic said:
    on December 17th at 12:55 pm

    You can still get Institution for Savings’ 48- and 60-month CD rates of 2.00% APY. But the 36-month deal at 2.00% APY has been cut in half.