Bank of New England Boosts 36-47 Month CD Rate By 102 Basis Points


Deal Summary: 36-47 Month CD, 2.27% APY, $10k minimum

Availability: Market area is primarily southeastern New Hampshire and nearby Massachusetts, but according to CSR, anyone who can come into a branch, regardless of where they live, can open an account.

Bank of New England began the week by raising the rate on its 36-47 Month CD (2.27% APY) by an impressive 102 basis points. The minimum opening deposit is $10k, with no stated balance cap. According to the Rates page, this is a limited time offer, but no specific end date is mentioned.

1.61%$500-Bank of New England36-47 Month CD
Rates as of July 17, 2018.

The 36-47 Month CD was added to the product line six years ago this week, with an initial APY of 1.75% that lasted six months. The rate dropped four times over the next two years, with the APY bouncing back to 1.25% in September 2013, where it remained until this week.

According to CSR, the Early Withdrawal Penalty is six months interest.


Headquartered in Salem, New Hampshire, Bank of New England’s market area is primarily southeast New Hampshire and nearby Massachusetts, but according to CSR, the Bank will “gladly open an account for anyone who can come into a branch,” regardless of where they live.

That being said, opening a 36-47 Month CD can be done at any of six New Hampshire branches, located in Bedford, Londonderry, Manchester, Nashua, Salem, and Windham. The Bank also has three branches in Massachusetts, located in Andover, Haverhill, and Methuen. Bank of New England’s online platform is currently limited to account management and bill payment services.

Bank Overview

Bank of New England has an overall health grade of “A+" at, with a Texas Ratio of 3.99% (excellent), based on September 30, 2016 data. In the past year, Bank of New England has increased its total non-brokered deposits by $61.94 million, an excellent annual growth rate of 10.68%. Please refer to our financial overview of Bank of New England (FDIC Certificate # 24540) for more details.

Founded in 1983 as Fidelity Bank & Trust Company, Bank of New England is currently New Hampshire’s sixth largest bank, with assets in excess of $777 million. The Bank was renamed as Southern New Hampshire Bank and Trust Company in 1995, and re-branded as Bank of New England in 2007. This locally owned and privately held institution should not be confused with the Boston-based Bank of New England Corporation, which was seized by the FDIC in 1991 following heavy losses in its loan portfolio.

How the CD Compares

When compared to the 378 similar length-of-term CDs tracked by that require a similar deposit and are available within the Bank’s market area, Bank of New England’s 36-47 Month CD APY currently ranks first.

The above rates are accurate as of 2/15/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table or Rates Map page.

5.50% 9-Month CD at a New Hampshire Bank (open to all)
Southern New Hampshire Bank and Trust Co. is having a special with a 5.50% APY certificate of deposit with terms of 9 months to 24 months. The minimum is $500. The CD application is online and can be printed and mailed. There doesn't seem to be any restrictions for out-of-state deposits.

The bank has 6 branches in New Hampshire and one in Andover, Massachusetts. Credit for this find goes to Mark who mentioned it in the finding deals post.

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