Dedicated to Deposits: Deals, Data, and Discussion

4.10% 18-Month CD & 4.00% 5-Month CD at Hyde Park Savings Bank in MA

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Update 1/11/09: These CD rates have ended. Please check the bank's website for the latest rates.

Hyde Park Savings Bank is offering two competitive CD rates: 4.00% APY 5-month CD and a 4.10% APY 18-month CD. Minimum deposit is $10,000. The rates are listed in the bank's rate table as of 12/19/08 and are subject to change at any time.

These CD rates require a minimum of 3 withdrawals per statement cycle in a Triangle Interest Checking Account. If this is not done, the interest rate on the CD permanently falls by 0.50%. Qualifying withdrawals include those conducted via ATM, debit card, check, bill pay, phone transfer and online transfer.

The Triangle Interest Checking Account has a $10/month fee, but this can be waived with a combined deposit balance of $5,000. It seems like it would be easy to set up 3 automatic withdrawals per month.

The bank also offers an internet 9-month CD with an APY of 3.80%. Minimum deposit is $1,000. This does not require any relationship. The 3.80% APY is listed in the bank's rate table as of 12/19/08.

The bank provides an online application, but it specifically restricts accounts to Massachusetts residents.

Branches are located in the Massachusetts cities of Brookline, Dedham, Hyde Park, Norwood and West Roxbury.

Hyde Park Savings Bank has some decent ratings for soundness: 5 stars (superior) at BauerFinancial and 3 stars (performing) at Bankrate.com. These ratings are based on 9/30/08 data.

The bank is FDIC insured (FDIC certificate # 90160). It also has private DIF insurance to provide protection for deposits over the FDIC limits.

  Tags: Massachusetts, CD rates

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Comments
Comment #1 by st942093 (anonymous) posted on
st942093
Be aware.
The bank would not close the CD over the phone/mail or fax.
They made me come into the branch to close the account.

1