Northfield Savings Bank is offering two CD specials. The most competitive one is the 5-year CD which has a 3.00% APY. The other one is a 15-month CD with a 1.15% APY. Minimum deposit is $1,000. These rates are listed in the bank's CD rates page as of 4/19/2011.
Thanks to the reader who emailed me news of this special. He noted one interesting thing about the early withdrawal penalties:
Interestingly, although their early withdrawal penalty is usually 6 months for terms of 12 months or longer, the 15 month deal is subject to special conditions, imposing a 12 month penalty.
That's another thing that hurts the 15-month CD special.
At the top of the bank's rates page, it states:
You must live or own a second home in the central or northern Vermont area to qualify for an account.
Northfield Savings Bank branches are located in several Vermont cities including Burlington, Barre, Montpelier and Waterbury.
The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 4.87% (excellent) based on December 2010 data. Please refer to our financial overview of Northfield Savings Bank for more details. The bank has been a FDIC member since 1934 FDIC Certificate # 14140).
Searching for the Best CD Rates
As a comparison to the highest CD rates available nationwide, only Connexus Credit Union is offering a 3.00% APY for a 5-year term. This requires an active checking account. The second best is still Melrose Credit Union which is offering a 2.93% APY 5-year CD. Rates are accurate as of 4/19/2011.
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.