bank rates

Our Idea Of A Bargain: 20-Month CD At 2%

Institution for Savings is certainly no stranger to great CD rates, but its current 20-month CD special for Massachusetts’ North Shore savers is especially sweet.

It’s paying 2.00% APY with a minimum deposit of $500 – far better than the top nationally available 24-month CD rate of 1.55% APY on our CD Rates Leaderboard.

It’s actually the same rate that Institution for Savings is offering for 48- and 60-month CDs.

But you have to live in this community bank’s market area to buy these certificates of deposit, either online or in person at a branch.

Thanks to a merger with Rockport National Bank in August, that market area is now larger, with Institution for Savings boasting 11 offices in Beverly, Gloucester, Ipswich, Newburyport, Rockport, Rowley, Salisbury and Topsfield.

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