Washington Trust (RI/CT/MA) Adds 18-Month Promo CD, 3.00% APY

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Deal Summary: 18-month Promotional CD, 3.00%, $500 minimum deposit, new money, checking relationship required.

Availability: Market area is Rhode Island, southwest Connecticut, and the portion of Massachusetts near Providence (RI). Eligibility based on Zip Code.

Rhode Island-based Washington Trust unveiled an 18-month Promotional CD (3.00% APY) about two weeks ago. This limited-time offer requires a $500 minimum deposit of new money, defined as “funds from sources other than Washington Trust.” A checking account is also required to earn the stated APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.00%$500-Washington Trust Company18 Month Promotional CD - New Money w/ Checking
Rates as of November 13, 2018.

In April, Washington Trust offered 3.00% APY on a 4-year Promotional CD, which was a competitive rate at the time. Six months later, that same APY is being offered on a CD with a term length less than half of its predecessor.

According to CSR, the Early Withdrawal Penalty for the 18-month Promotional CD is six months of interest on the amount being withdrawn.

Checking Accounts

Washington Trust has three checking accounts and all qualify for this promotion. The best option is probably the Freedom Checking, which has no monthly maintenance fee and also earns 0.01% APY on balances of $5k+. A Freedom Checking account can be opened with a $50 minimum deposit.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.01%$5k-Washington Trust CompanyFreedom Checking
Rates as of November 13, 2018.

Availability

Headquartered in Westerly, Rhode Island, Washington Trust’s market area includes Rhode Island, southeast Connecticut, and the portion of Massachusetts near Providence (RI). Eligibility is determined by Zip Code.

Opening the 18-month Promotional CD can be done by calling the Customer Solutions Center (CSC) at 800.475.2265, or in person at any of 21 Rhode Island branches located in Block Island, Charlestown, Coventry, Cranston (3), East Providence, Johnston, Narragansett (2), North Kingstown, Providence (2), Rumford, South Kingstown, Warwick (2), Westerly (3), and Wyoming. The Bank also has a branch in Mystic, Connecticut.

Washington Trust has an online application that starts the account opening process. Upon receipt and review of the application, CSC will contact you to confirm the information and will mail any necessary forms.

Bank Overview

Washington Trust has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.23% (excellent) based on June 30, 2018 data. In the past year, Washington Trust has increased its total non-brokered deposits by $612.76 million, an excellent annual growth rate of 27.05%. Please refer to our financial overview of Washington Trust (FDIC Certificate # 23623) for more details.

Established in 1800 as the Washington Trust Company, Washington Trust is the oldest community bank in the country. Opening its doors for business only 24 years after the United States of America was founded, the Bank was named for the new nation’s recently deceased first president. After 218 years of continuous operation, Washington Trust is Rhode Island’s second largest bank, with assets in excess of $4.7 billion and more than 114,000 customer accounts.

The Bank’s website provides a few “fun facts” that put the Bank’s long history into perspective.

We were the first bank to print George Washington’s likeness on currency — 69 years before President Washington appeared on the federally issued one-dollar bill and 132 years before the Washington quarter appeared.

We are 86 years older than the Statue of Liberty.

We celebrated our 60th anniversary the year Abraham Lincoln won the Presidency.

How the Promotional CD Compares

When compared to 192 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the Bank’s market area, Washington Trust's 18-month Promotional CD APY currently ranks second.

The above rates are accurate as of 10/13/2018.

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

Related Pages: Providence CD rates, Hartford CD rates, 1-year CD rates

Comments
Washington Trust (RI/CT/MA) Adds 4-Year Promo CD
Deal Summary: 4-year Promotional CD, 3.00%, $500 minimum deposit, new money, checking relationship required.

Availability: Market area is Rhode Island, southwest Connecticut, and the portion of Massachusetts near Providence (RI). Eligibility determined by Zip Code.

Washington Trust has added a 4-year Promotional CD (3.00% APY). The minimum deposit is $500 of new money, which is defined as “funds from sources other than Washington Trust.” This is a limited-time offer, which also requires a checking account relationship.

According to CSR, the Early Withdrawal Penalty for the 4-year...

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Washington Trust (RI/CT/MA) Adds 18-Month Promo CD
Deal Summary: 18-month Promotional CD, 1.80%, $500 minimum deposit, new money, checking relationship required.

Availability: Market area is Rhode Island, southeast Connecticut, and the portion of Massachusetts near Providence (RI). Eligibility determined by Zip Code.

Last week, Washington Trust added an 18-month Promotional CD (1.80% APY). The minimum deposit is $500 of new money, which is defined as “funds from sources other than Washington Trust.” This is limited-time offer also requires a checking account relationship.

According to CSR, the Early Withdrawal Penalty for the 18-month Promotional...

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$100 Checking Account Bonus
Washington Trust Bank is offering $100 in bonuses for opening its Freedeom Checking account and using direct deposit and online bill payment. $50 of the bonus is for direct deposit and $50 is for paying 3 bills using online banking. The minimum balance to open the account is $50.

The Freedom Checking account has no monthly service charges. ATMs are free but there doesn't seem to be any reimbursement of surcharges for using ATMS of other banks. No interest is earned in the account except for balances over $5K although even...

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