Blue Hills Bank (MA) Adds 29-Month Flexible CD


Deal Summary: 29-month Flexible CD (3.00% APY), $500 min opening deposit, $500k max deposit, new money, deposits in $5k increments allowed in the first twelve months, checking relationship required to earn stated APY.

Availability: Eastern Massachusetts

Six months ago, Blue Hills Bank (Blue Hills) added a 22-month Flexible CD (2.25% APY). This week, Blue Hills unveiled its 29-month Flexible CD (3.00% APY), which allows the same additional deposits in $5k increments in the first twelve months as the 22-month does, but the resemblance ends there.

The fine print on the promotion page lists all the new conditions:

Minimum opening deposit is $500 and maximum balance is $500,000.

Advertised APY is available to new customers only or to existing customers who add $10,000 or more in new-to-bank deposits to the 29 Month CD.

A Blue Hills Bank checking account with recurring direct deposits of $1,000 or more per statement cycle, or 10 debit card transactions per statement cycle, is required to earn 3.00% APY.

If checking account requirements aren’t met, the APY on the CD for the following statement cycle will be 2.50%.

That last statement is important because the APY can go back up to 3.00% for the next statement cycle, if the checking requirements are met. There is no limitation on how many times the APY can change from one statement cycle to the next. It’s similar to the qualified and non-qualified rates associated with a rewards checking account: if you don’t meet the requirements in any given statement cycle, you get a second chance in the next statement cycle.

According to CSR, the Early Withdrawal Penalty for the 29-month Flexible CD is six months interest.

Checking Accounts

Blue Hills offers three checking accounts: Free Checking, Debit Rewards Checking, and Relationship Checking. All three checking accounts require a $25 minimum opening deposit.

Depositors Insurance Fund

Deposits at Blue Hills are not only insured by the FDIC, but are also covered by the Depositors Insurance Fund (DIF).

All DIF member banks are also members of the FDIC. Each depositor is
insured by the FDIC to at least $250,000. All deposits above the FDIC
insurance amount are insured by the Depositors Insurance Fund (DIF).


Headquartered in Boston, Blue Hills Bank’s market area is described as "Eastern Massachusetts through branch network and eCommerce channels."

According to the Deposit Rates page, the 29-month Flexible CD is “not available for online opening at this time,” and must be opened in-branch. Blue Hills Bank has eight full-service Massachusetts branches, located in Boston (3), Dedham, Milton, Norwood, Westwood, and West Roxbury. CSR stated that it is possible that the 29-month Flexible CD will be added to the online application in the near future.

Bank Overview

Blue Hills Bank has an overall health grade of "A+" at, with a Texas Ratio of 3.74% (excellent) based on March 31, 2018 data. In the past year, Blue Hills has increased its total non-brokered deposits by $136.57 million, an excellent annual growth rate of 8.27%. Please refer to our financial overview of Blue Hills Bank (FDIC Certificate # 90160) for more details.

Established in 1871 as the Hyde Park Savings Bank, the Bank rebranded in 2011 as it sought "to transform itself from a sleepy 140-year-old institution with six branches to a growing bank with a broader line of offerings.” (Collateral trivia – seen from the coastline, the mountains in Norfolk County have a bluish hue. This distinctive coloring is caused by the presence of riebeckite, a type of silicate mineral.) Blue Hills Bank is currently Massachusetts’ 17th largest bank with assets in excess of $2.6 billion and with nearly 56,000 customer accounts.

How the Flexible CD Compares

When compared to the 383 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available within the Bank’s market area, Blue Hills Bank's 29-month Flexible CD APY currently ranks first. The ability to add funds during the first twelve months only enhances the 22-month Flexible CD’s competitiveness.

The above rates are accurate as of 6/8/2018.

To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.

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

Blue Hills Bank (MA) Adds 22-Month Flexible CD
Deal Summary: 22-month Flexible CD (2.25% APY), $500 min/$3 million max deposit, new money, add-on deposits in $5k increments allowed in the first twelve months.

Availability: Eastern Massachusetts

Blue Hills Bank (Blue Hills) has added a 22-month Flexible CD (2.25% APY). The minimum deposit is $500 and “Total deposits, including the account opening deposit, may not exceed $3 million.”

The Flexible CD is also offered as an IRA (Traditional and Roth), earning the same APY and with the same funding requirements.

As stated in the fine print on...

Continue Reading
Blue Hills Bank (MA) Adds Two Limited-Time Bump Up CDs
Deal Summary: 23-month Bump Up CD (2.00% APY), 59-month Bump Up CD (2.47% APY), $500 minimum deposit.

Availability: Eastern Massachusetts

Now through August 18, 2017, Blue Hills Bank (Blue Hills) is offering a 23-month Bump Up CD (2.00% APY) and a 59-month Bump Up CD (2.47% APY). The minimum deposit is $500, with no stated balance cap.

The Bump Up feature allows for a one-time rate increase that must be initiated by the CD's owner.

According to CSR, the Early Withdrawal Penalty for the 23-month Bump Up CD...

Continue Reading
Blue Hills Bank (MA) Offers Very Competitive Premier MMA Promotion

In late August, I wrote about Blue Hills Bank’s two new Bump Rate CD promotions:

5-Year Bump Rate CD (2.10% APY)

3-Year Bump Rate CD (1.35% APY)

Both Bump Rate CDs are still available at the above rates.

Last week, the Massachusetts based Blue Hills Bank added a new Premier Money Market Account promotion, which earns 1.10% APY on balances of $10K+, with no maximum balance cap; balances under $10K earn 0.10% APY.

Account Requirements

According to Blue Hills Bank’s Special Offers Disclosure Page,


Continue Reading
Blue Hills Bank (MA) Introduces New 5-Year Bump Rate CD

Last week, Blue Hills Bank (Massachusetts) introduced a 5-Year Bump Rate CD (2.10% APY) and a 3-Year Bump Rate CD (1.35% APY). While the 3-Year Bump Rate CD is not that competitive, the 5-Year Bump Rate CD is definitely worth consideration. A $500 minimum deposit opens this 5-Year Bump Rate CD, with interest compounded monthly.

The Early Withdrawal Penalty is six months interest on the amount withdrawn.

According to Blue Hills Bank's Disclosure Page, the Bump Rate feature is as follows:


Continue Reading
Massachusetts Savings Account and CD Deal at Blue Hills Bank

Blue Hills Bank continues to offer a very competitive rate on its Triangle Statement Savings Account. This rate is 1.10% APY, and it has been at this level for the last year. A balance of at least $10,000 is required to qualify for this rate. Also, a Triangle Checking Account is required to open this savings account. A monthly service charge of $5 will be waived if you maintain an average daily balance of $2,500 in the savings account or a $5,000 minimum combined average daily balance in the savings...

Continue Reading

More Past Offers

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 [email protected] 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.