2.02% 9-Month CD at Rollstone Bank & Trust in MA - Local Only

Rollstone Bank & Trust is offering two competitive short-term CD specials: a 1.75% APY 7-month CD and a 2.02% APY 9-month CD. Minimum deposit is $1,000. The 9-month CD is also available in an IRA. These specials are listed in the bank's deposit rates table as of 10/05/09.

The bank has long offered a reward checking account. In 2007 it started out with a 6.01% APY for balances up to $100K. The rate has fallen considerably, and it's now 2.75% APY for balances up to $50K (see post).

Readers have reported being told by the bank that you must live within 50 miles of a branch, and the accounts must be opened in the branch. Branches are located in Fitchburg, Leominster, Harvard and Townsend, Massachusetts.

The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). The bank was established in 1846 and has been a FDIC member since 1957 (Certificate # 17797).

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Tags: Massachusetts, CD rates, IRA rates, Rollstone Bank and Trust