bank rates

Small Bank Grabs Top 36-Month CD Rates

Williamstown Savings Bank is offering this deal with a $1,000 minimum deposit.A northwestern Massachusetts bank with a single office is the new national leader for 36-month CD rates.

Williamstown Savings Bank is paying 2.25% APY with a $1,000 minimum deposit.

And the bank is willing to sell its CDs to savers nationwide. But get on this deal fast.

That rate knocks Melrose Credit Union — which offers 2.17% APY — to second place in that term on our CD Rates Leaderboard.

These certificates of deposit can be purchased in person at Williamstown Bank at 795 Main St., Williamstown, or by mail. Out-of-staters will need to call the bank first at 413-458-8191 to have the paperwork sent to them.

It’s important to note that Hoosac Bank, which is affiliated with Williamstown Bank as a MountainOne Financial Partner and also has a branch on Main Street, is offering this rate, too.

But Hoosac Bank only sells its CDs to those living within a 60-mile radius of its North Adams, Mass., office.

As always, our advice is to jump on these rates quickly.

Small banks like Williamstown Bank are often overwhelmed with calls after unexpectedly landing on the Leaderboard. In the past, many small banks have lowered their rates within hours or limited new accounts to local residents.

Of course, Pennsylvania-based Quaint Oak Bank recently proved us wrong on this, maintaining its top rates for a week.

We’re really hoping Williamstown Bank follows suit. (Fingers crossed.)

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

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Comments (2)
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2 Existing Comments
  1. Nancy Goodenow said:
    on May 12th at 12:29 am

    Always be sure to check what the penalty is for early withdrawal. Ally only charges two months interest. Even if the rate is a bit lower, if you may have to withdraw it early, this is something to think about. I will call this bank in the a.m. to see what theirs is.

  2. Mike at Bankaholic said:
    on May 12th at 10:38 am

    As we feared, this deal didn’t last long. Williamstown has slashed its rates. We’ll have more later in a new post.