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

scott (anonymous) - #1, Saturday, September 29, 2007 - 7:08 AM

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

Banking Guy (anonymous) - #2, Saturday, September 29, 2007 - 3:35 PM

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.

Anonymous - #3, Sunday, September 30, 2007 - 1:46 PM

for last 4.5 months ending last week they actually had 5.5% 4 month cd available at their new branch too

Anonymous - #4, Tuesday, October 9, 2007 - 11:11 AM

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%

scott (anonymous) - #5, Wednesday, October 10, 2007 - 6:45 AM

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

scott (anonymous) - #6, Saturday, October 20, 2007 - 2:34 PM

lowered to 5.15%

Banking Guy (anonymous) - #7, Saturday, October 20, 2007 - 3:00 PM

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.