Brookline Bank (MA) Adds Competitive CD Specials

POSTED ON BY

Deal Summary: CD Specials - 13-month (2.25% APY), 18-month (2.50% APY), 24-month (2.60% APY), $5k minimum deposit

Availability: Greater Boston metropolitan area

Brookline Bank is currently featuring three CD Specials: 13-month (2.25% APY), 18-month (2.50% APY), and 24-month (2.60% APY). Any of the CD Specials can be opened with a minimum $5k deposit; there is no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.60%$5k-Brookline Bank24 Month CD Special
2.50%$5k-Brookline Bank18 Month CD Special
2.25%$5k-Brookline Bank13 Month CD Special
Rates as of September 21, 2018.

The fine print on the promotion page states,

CD Special rates must be requested when a CD is opened or renewed.

As stated in the CD Disclosure, the Early Withdrawal Penalty reads as follows:

If the term of your account is greater than one year, the penalty will equal 180 days interest.

Depositors Insurance Fund

Brookline Bank is a member of the Depositors Insurance Fund (DIF), which provides unlimited deposit insurance above current FDIC insurance limits for all depositors at Massachusetts-chartered savings banks. The DIF has been insuring deposits since 1934.

The combination of FDIC and DIF insurance provides customers of Massachusetts-chartered savings banks with full deposit insurance on all their deposit accounts.
No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.

Availability

Headquartered in Brookline, Massachusetts, Brookline Bank’s market area is the Greater Boston area.

Opening a CD Special must be done in-person at any of 27 Massachusetts branches located in Arlington, Bedford, Boston (2), Brookline (4), Burlington (2), Chestnut Hill (2), Lexington, Malden, Medford (3), Needham, Newton (2), Newton Center, Newtonville, Waltham, Wellesley (3), and West Roxbury.

The Bank’s online banking platform is currently dedicated to account management and bill payment services.

Bank Overview

Brookline Bank has an overall health grade of "A" at DepositAccounts, with a Texas Ratio of 3.98% (excellent) based on December 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $52.32 million, an above average annual growth rate of 1.97%. Please refer to our financial overview of Brookline Bank (FDIC Certificate # 17798) for more details.

Founded in 1871, Brookline Bank is currently Massachusetts’ tenth largest bank, with assets in excess of $4.1 billion. The Bank acquired three Boston area banks (Coolidge Corner Co-operative Bank, Lighthouse Bank, and Medford Co-operative Bank) between 1991 and 2005. Two months ago, Brookline Bank acquired First Commons Bank (Newton Centre), with the transition of accounts scheduled to take place over the weekend of June 1-3, 2018.

How the CD Specials Compare

When compared to the 306 similar length of term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available in the Bank’s market area, Brookline Bank’s 18-month CD Special APY currently shares top ranking with Greenwood Credit Union’s 15-month CD and Rockland Federal Credit Union’s 20-month Share Certificate.

When compared to the 386 similar length of term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available in the Bank’s market area, Brookline Bank’s 13-month CD Special APY currently ranks fourth.

When compared to the 377 similar length of term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available in the Bank’s market area, Brookline Bank’s 24-month CD Special APY currently ranks fourth.

The above rates are accurate as of 5/9/2018.

To find the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Boston CD rates, 1-year CD rates, 5-year CD rates

Comments
3.50% Money Market Account at a Massachusetts Bank (Brookline)
Brookline Bank is advertising a 3.50% APY money market account. There is a minimum balance requirement of $10,000 to get the promo rate. Once the account is opened, the rate is guaranteed through December 31, 2008.

This promo rate doesn't seem to be listed on the bank's website. A reader mentioned receiving a postcard in the mail from the bank. He checked with the bank and was told that it's being offered to select customers, but if you come into a branch, anyone should be able to qualify.

Branches are...



Continue Reading


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact feedback@depositaccounts.com to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.