Clinton Savings Bank is offering a 3.00% APY on a 5-year CD and IRA CD. The shorter term CDs are not quite as competitive. The two that have rates above 2% include the 3-year CD with a 2.15% APY and a 4-year CD with a 2.50% APY. Minimum deposit is $500. These rates are listed in the bank's rates page as of 9/17/2010.
According to the bank's truth in savings disclosure, the early withdrawal penalty is 6 months of interest on the amount of principal withdrawn for all CD maturities of one year or more. The grace period is 10 calendar days after the maturity date.
The bank also offers a reward checking account that currently pays 2.51% APY on balances up to $25K (see account review). When I first reviewed this account over two years ago, the rate was 6.01% APY.
There's an online application provided by Andera that allows ACH funding. However, the application only allows residents of Massachusetts to apply.
Branches are located in the Massachusetts cities of Berlin, Bolton, Boylston, Clinton, Sterling and West Boylston.
The bank's overall health score is 3 out of 5 with a Texas Ratio of 31.54% (above average) based on 6/30/2010 data. Please refer to our financial overview of Clinton Savings Bank for more details. The bank was established in 1851 and has been a FDIC member since 1985 (FDIC Certificate # 90181).
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