Dedicated to Deposits: Deals, Data, and Discussion

5.50% 5-Month CD at a Massachusetts Bank (Hyde Park Savings).

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Update 10/20/07: The yield has lowered to 5.15% APY.

Hyde Park Savings Bank is offering a special 5.50% APY 5-month internet CD. The minimum deposit is $1,000. It's only available online, and is not available at the bank's branches. It looks like the funding can be done with an ACH transfer. The online application states that you must be a Massachusetts resident.

The bank is FDIC insured (certificate # 90160).

Related Pages: Massachusetts, CD rates

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Comments
7 Comments.
Comment #1 by scott (anonymous) posted on
scott
Thanks, This is a great offer. I did some checking on them and they seem very good. Bankrate gives them 4 stars, They are just under a billion in size and have been around for over 140 years. They have DIF so could fully insure large amounts. There is no max so I plan on taking advantage of that. No hard pull, they use CreditChex to verify. Also rate shows as accurate as of 9/1. Not sure if it will change 10/1. I just called and was told it locks in as soon as you do online application and fund by ACH. So anyone wanting to open should jump in today

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Glad you're able to take advantage of this deal. I don't see many local CD deals with an online application. Seems like this is a major cost reducer for banks that can open accounts online. So hopefully, this bank will continue to have some good online deals.

It would have been nice if they allowed customers from outside MA. But at least, their application clearly stated the in-state restriction.

1
Comment #3 by Anonymous posted on
Anonymous
for last 4.5 months ending last week they actually had 5.5% 4 month cd available at their new branch too

1
Comment #4 by Anonymous posted on
Anonymous
takes minimum 3 business days for HPSB to receive money, so at least 3 days lost interest so drops the rate down by at least .1%

1
Comment #5 by scott (anonymous) posted on
scott
I just did my second CD with them, Both times account was opened 1 day after funds were pulled. So only lost 1 day of interest

1
Comment #6 by scott (anonymous) posted on
scott
lowered to 5.15%

1
Comment #7 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the update. Sorry to see the 5.50% end. Hopefully, we'll see some more good deals in the future from this bank.

1