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5.15% 5-Month / 5.00% 18-Month CD at a Massachusetts Bank (Hyde Park Savings).


Update 1/12/08: These CD specials have ended. Please check the bank's website for the latest rates and specials.

Hyde Park Savings Bank is offering a special 5.15% APY 5-month internet CD. The minimum deposit is $1,000. It's only available online, and it's not available at the bank's branches. Funding can be done with an electronic funds transfer (ACH). The online application states that you must be a Massachusetts resident.

The bank is also offering a 5% APY 18-month certificate that's called the Triangle 18 Month Bump Rate Certificate of Deposit. The minimum deposit is $10,000. A minimum of 3 withdrawals per statement cycle in a Triangle Interest Checking Account is required to obtain the 5% APY. This certificate can be opened online or at a branch. Please see the rate table for more details.

I last posted on this bank in September when the 5-month internet special had a yield of 5.50%. In that post, a reader mentioned some additional details in the comments. He was told that the rate locks as soon as you do the online application and fund by ACH. There's no credit hard pull in the CD application process (so it shouldn't affect your credit score).

The bank is FDIC insured (certificate # 90160). It also has DIF insurance to provide protection for deposits over the FDIC limits. The bank was established in 1871. It has $988 million in assets and $822 million in deposits. It has a 4 out of 5 star safe & sound rating (sound) at Bankrate.com based on 9/30/07 data.

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