bank rates

Massachusetts Deal: 2% on 5-year CDs


Institution for Savings still has two decent CD rates for savers in northeastern Massachusetts.

With a $500 minimum deposit, it’s paying:

  • 1.75% APY for 48-month CDs.
  • 2.00% APY for 60-month CDs.

We’ve written about Institution for Savings a few times now, as it’s steadily held onto higher CD rates far longer than other community banks.

Its current 60-month CD rate is nearly a fifth of a percentage point higher than the term leader on our latest CD Rates Leaderboard.

But 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.

If this will be your first account, you’ll have to visit a branch in person. Institution for Savings has offices in Ipswich, Newburyport, Rowley and Salisbury.

Learn more about Institution for Savings at www.institutionforsavings.com 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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  1. kim said:
    on November 27th at 03:59 pm

    Called and they offer the CD rate to North Shore customers only.