Bank of New England Has 36-Month CD Special

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Deal Summary: CD Specials – 36-month (3.15% APY), 48-month (3.25% APY), and 60-month (3.35% 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, is eligible to open an account.

Bank of New England is currently offering three CD Specials: 36-month (3.15% APY), 48-month (3.25% APY), and 60-month (3.35% APY). These limited-time CD Specials require a $10k minimum deposit, with no stated balance cap.

When compared to the other CDs in the Bank’s product line, the CD Specials have the most competitive APYs by far. For example, the 24-35 month CD’s APY is 1.10%.

According to CSR, the Early Withdrawal Penalty for any of the CD Specials is only six months interest on the amount being withdrawn.

Availability

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

Opening a CD Special must 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 DepositAccounts.com, with a Texas Ratio of 1.938% (excellent), based on March 31, 2018 data. Bank of New England has an excellent capitalization level (14.44% APY), the result of holding $905.26 million in assets with $130.73 million in equity. 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 fourth largest bank, with assets in excess of $905 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 Specials Compare

When compared to the 389 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $10k or less and are available within the Bank’s market area, Bank of New England’s 36-month CD Special APY currently ranks first.

When compared to the 327 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $10k or less and are available within the Bank’s market area, Bank of New England’s 48-month CD Special APY currently ranks second.

When compared to the 341 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $10k or less and are available within the Bank’s market area, Bank of New England’s 60-month CD Special APY currently ranks second.

The above rates are accurate as of 7/26/2018.

Looking for the best CD rates, either nationwide or state specific? Please refer to our CD Rates Table page.

Related Pages: Boston CD rates, 5-year CD rates

Comments
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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.

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