Mt. Washington Bank is advertising a very competitive 17-month CD rate of 2.17% APY. Minimum deposit is $500, and a checking account is required. This special doesn't seem to be listed at the bank's website. It was advertised in a Boston area newspaper on 4/15/2010. The ad is available online here. Offer may expire at any time.
The bank does list another CD special at its website that is fairly competitive. It's a 36-month IRA CD with a 2.65% APY. This is listed at this bank's promotions page as of 4/18/2010.
It appears that a branch visit is required to open an account. The ad only lists the branch location at the Jamaica Plain Office at 515 Centre Street. Please refer to the bank's location page for a map and other branch locations.
Mt. Washington Bank is a division of East Boston Savings Bank. East Boston Savings Bank's ratings for safety and soundness are a little mixed: 4 stars (excellent) at BauerFinancial (based on 12/31/09 data) and 2 stars (below peer group) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 1991 (FDIC Certificate # 33510).
Best CD Rates
How does this 17-month CD rate compare to other top rates? As a comparison, Bankrate's top nationwide 18-month CD rate as of 4/18/10 is 1.79% APY. You can find higher CD rates available nationwide in the CD rates section of DepositAccounts.com.