If you are a resident of Massachusetts and are currently looking for great savings rates, then make sure you keep reading. Mechanics Cooperative Bank has wide array of products to meet your individual needs. They are proud to be a financial institution that is big enough to serve all your financial needs, yet small enough to care about how those needs are met. They currently offer standard CD rates from 3-months to 60-months with 0.25% to 3.00% APY Rates. They also offer a special 14-Month CD term with 2.00% APY and 27-Month CD term with 2.75% APY on balances $500 or more (14-month CD) and $2,500 or more (27-month CD). By joining Mechanics Cooperative Bank, you get to enjoy earning higher rate of interest than regular savings account.
Mechanics Cooperative Bank CD Summary:
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- Account Type: CD account
- Current Promotion: 14-Month CD 2.00% APY, 27-Month CD 2.75% APY
- Special APY Rates/Balance requirements:
- 14-Month CD Term:
- 2.00% – $500
- 27-Month CD Term:
- 2.75% – $2,500
- 14-Month CD Term:
- APY Rate/Balance Requirements:
- Standard CD
- 0.25% APY for 3-Month CD – $500
- 0.30% APY for 6-Month CD – $500
- 0.45% APY for 9-Month CD – $500
- 0.60% APY for 12-Month CD – $500
- 0.70% APY for 18-Month CD – $500
- 1.00% APY for 24-Month CD – $500
- 1.10% APY for 30-Month CD – $500
- 1.30% APY for 36-Month CD – $500
- 1.50% APY for 48-Month CD -$500
- 3.00% APY for 60-Month CD -$500
- Standard CD
- Availability: MA (Bank Locator)
- Soft/Hard Pull: Soft Pull or Hard Pull? Let us know
- Minimum Balance Requirement: $500-$2,500
- Additional Requirements: None
- Early Withdrawal Fee: One penalty free withdrawal allowed per quarter, consisting of funds on deposit longer than 7 days
- Auto-Renewal: Yes
Mechanics Cooperative Bank Best CD Rates:
Overall, Mechanics Cooperative Bank ranked high across the board from our statewide Best 1-Year CD Rates and Best 2-Year CD Rates list. So if you’re interested in making a higher rate than a traditional savings account, make sure to take advantage of this limited time special offer. Note that rates are always changing, which is why if you’re interested in getting a CD with them, you might want to hop on it as soon as possible.
Mechanics Cooperative Bank CD Account Features:
- Earns higher rate of interest than regular savings account
- Open an account with only $500 for standard rates and 14-Month special
- Fixed rate of interest
- NCUA insured up to $250,000
Conclusion:
If you are interested in a short term or long term CD, look no further as Mechanics Cooperative Bank offers you both standard CD rates, but they are promoting their special CD rates that go up to 2.00% APY on 14-Month CD term and 2.75% APY on 27-Month CD term. Remember, both specials ranked highly on our Best CDs list. So if you are interested and live near a branch, be sure to open your new CD account today or open online too! Either way, be sure to take advantage of these great CD rates that they have to offer. However if you are not interested or looking for more options, be sure to browse our complete list of the Best National CD Rates for all your savings needs!
Disclaimer: Rates / APY terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts. Bank, thrift and credit union deposits are insured by the FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.