Brookline Bank (MA) Adds Competitive CD Specials
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.
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.
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.
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.