[Update 5/22/07: This 5.50% CD is no longer being offered.]
North Shore Bank is offering a special "No Catch" certificate of deposit with a yield of 5.50% APY and a term of 10 months. The minimum deposit is $1,000, and the maximum is $150K. It has the nice feature that allows one withdrawal during the initial term without penalty. The offer expires on June 1, 2007.
Even though it's called a "No Catch" CD, it still requires money new to the bank. Also, it must be opened at their Highland Avenue, Salem branch.
The bank is also offering a 4.65% APY on its Freedom Money Market account with a $2,500 minimum. The rate is guaranteed until September 30, 2007. For those who prefer a brick-and-mortar bank, this is a decent deal.
North Shore Bank is FDIC insured (FDIC Certificate # 26484).