Northern Bank & Trust Company made a big change to its CD rates yesterday. I reported on this bank last month when it was offering a 1.15% APY 18-month CD. That rate has fallen to 0.75%, but its 3-year CD rate went way up to a very competitive level. The new 3-year CD yield is 1.50%. The 5-year CD rate also went up, but it’s not quite as competitive. The new 5-year CD yield is 1.75%. These rates are listed at the bank’s deposit rates page as of 7/9/2013.
The CDs can also be opened at one of the banks eleven branches. Northern Bank & Trust Company branches are located in Massachusetts north of Boston.
The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas ratio of 20.18% (average) based on March 2013 data. Please refer to our financial overview of Northern Bank & Trust Company for more details. The bank has been a FDIC member since 1960 (FDIC Certificate # 18266).
How These CD Rates Compare
For a 3-year CD that’s nationally available, there are only two CDs with higher rates. One is at Connexus Credit Union with a 1.75% APY, but this requires an active checking account with direct deposit. State Bank of India - Chicago has a 1.51% APY 3-year CD, but this requires a $95K minimum deposit, and it can only be opened by mail or at its Chicago branch. There’s also one internet bank with a 1.50% APY 3-year CD. That’s at Salem Five Direct.
Now that Northern Bank & Trust’s 18-month CD rate has fallen, the best 18-month CD deal is at Doral Bank Direct. It has a 1.02% APY, and it allows a one-time penalty-free withdrawal which is a nice feature in today’s environment with the possibility of fast rate hikes.
These rates are accurate as of 7/9/2013.
Searching for the Best CD Rates
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.