Dedicated to Deposits: Deals, Data, and Discussion

Top 4-Year and 7-Month CD Rates at HarborOne Bank - New England Only


HarborOne Bank

HarborOne in Massachusetts just recently changed from a credit union to a bank. When it was a credit union, it had offered several good CD deals. I’m glad to see the deals haven’t stopped now that it’s a bank. HarborOne Bank currently has two good CD deals: a 2.00% APY 4-year CD and a 1.05% APY 7-month CD. Minimum deposit is $1,000 ($500 in an IRA). These rates are listed in the bank’s deposit rates page as of 8/9/2013.

One downside with the 4-year CD is a large early withdrawal penalty. According to the account disclosure, the early withdrawal penalty is equal to 18 months interest on the amount withdrawn. The 7-month CD has a 3-month EWP. Please refer to the bank’s account disclosure for more details.

The bank has an online application that’s powered by Andera. The first page of the online application states that you must have a residential address in either MA, NH, ME, CT, VT, or RI to open your account online.

Accounts can also be opened at one of the bank’s branches. HarborOne Bank branches are located in the Massachusetts cities of Abington, Attleboro, Bridgewater, Brockton, Canton, Easton, Mansfield, Middleborough, Plymouth, Randolph and Raynham.

HarborOne officially converted from a credit union to a bank on July 1st. It’s now a mutual co-operative bank. I first reported on this conversion plan and the reasons for the conversion in this 2012 post. This Credit Union Times article has the most recent news of the conversion.

HarborBone Bank is now a FDIC member with the FDIC certificate # 59070.

How These CD Rates Compare

A 2% APY is close to the best nationally available 5-year CD rates. For a 4-year CD, the best nationwide yield is 1.71% at both Melrose Credit Union and at Andrews Federal Credit Union.

The best 6-month CD rate that’s nationally available is 1.00% APY at Garden Savings FCU. The highest 6-month CD rate at an internet bank is 0.90% APY at Bank5 Connect.

These rates are accurate as of 8/9/2013.

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of

Related Pages: HarborOne Bank, CD rates, IRA rates, Massachusetts, Connecticut, Rhode Island, Vermont, New Hampshire, Maine

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Comment #1 by jimflutes (anonymous) posted on
I just got the 2.00% 4 year cd at Harbor bank. Easy on line application. I live in Mass. so I did qualify. I would not have known about this cd if it not was for this great site(deposite accounts),thank you , Jim 

Comment #2 by Anonymous posted on
I also just opened up a 4 year CD with them over the phone -- very knowledgeable CSR and a pleasure to do business with!  Like the first poster, I too would never have known of this if not for Ken!  Thanks Ken for all your good work!

Comment #3 by Anonymous posted on
Does anyone know why a bank insured by the FDIC is allowed to pick only select states as being eligible to participate in this special?  They are no longer a credit union!