Dedicated to Deposits: Deals, Data, and Discussion

3.30% 36-Month CD & 2.02% 5-Month CD at Mt. Washington Bank in MA - Local Only

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Mt. Washington Bank is offering two competitive CD specials: a 3.30% APY 3-year CD and a 2.02% APY 5-month CD. Minimum deposit is $500. The 3-year CD is also available in an IRA. These rates are listed at the bank's rates page as of 5/29/09.

The bank is also offering a fairly competitive money market account. It's Preferred Money Market Account has a rate of 1.76% APY on balances over $2,500 as of 5/29/09.

At the top of the bank's rate table, it states that they accept deposits only from customers with a Massachusetts residence. Branches are located in South Boston, Dorchester and Jamaica Plain.

The bank's ratings for safety and soundness are a little weak: 2 stars (below peer group) at Bankrate.com and 3 stars (adequate) at BauerFinancial. Both ratings are based on 12/31/08 financial data. The bank has been FDIC insured since 1986 (FDIC Certificate # 26552). As a co-operative Massachusetts bank, deposits above the FDIC limits are insured privately by the Share Insurance Fund (see bank's page for more details).

Other High Certificate of Deposit Rates

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.

  Tags: Massachusetts, money market accounts, CD rates, IRA rates

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