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You are viewing rates from banks across Boston
Below are 5-year CD Rates from banks that are located in Boston, { Massachusetts}. Five Year Certificates of Deposit (CD) are generally the longest term CD that most banks will offer. They tend to offer the highest rates but require the longest commitment. Five year CDs are especially popular in a declining interest rate environment as depositors can lock money in at the highest rate possible for the longest period of time. They are also popular with depositors who are willing to lock up money for five years in return for extra yield.
Boston, MA - November 27, 2024
5 Year CD National Average : 0.91% ?
| Banks | APY | MIN | MILES ? | |
|---|---|---|---|---|
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3.80% |
$1,000 |
- |
Learn More
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Rate History: 3.95% → 3.85% → 3.80% |
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george | Feb 9, 2021 The wonderful assistants at Beal Bank are wonderful. Rebeca took great care of me and made sure all my concerns were addressed. Read More |
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3.75% |
$1,000 |
- |
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3.75% |
$10 |
- |
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Stephen Clinton | Jan 9, 2021 Used to be a good bank!! Taking money out of my account for something I did not purchase. This is the second time they did this. They do it on Fridays knowing that no one from the Fraud Department isn't th... Read More |
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3.75% |
$1,000 |
- |
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Rate History: 1.00% → 4.50% → 3.75% |
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3.50% |
$1,000 |
- |
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Rate History: 1.00% → 3.50% |
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3.25% |
$1,000 |
- |
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Rate History: 2.00% → 3.25% |
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3.25% |
$1,000 |
- |
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Shawn | Feb 14, 2022 I had a personal checking account and a business account. All went well until I sent a polite letter pointing out that it is improper, and not good practice, to make online passwords expire. Why should ... Read More |
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3.00% |
$5,000 |
- |
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Dana E. | Mar 20, 2016 Good solid bank. Read More |
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2.50% |
$20 |
- |
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Andrea | Apr 18, 2017 Village Bank currently has a 15 mo. CD special at 1.50% Read More |
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2.40% |
$0 |
- |
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Rate History: 2.45% → 2.40% |
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2.25% 0.50% |
$10,000 $500 |
- |
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DMuessig | Jan 8, 2018 Another bad bank! Did a hard pull just to open a checking account with no overdraft and denied me. Never even bothered to send a letter or e-mail. Now I have another inquiry on my credit report for nothin... Read More |
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2.15% |
$500 |
- |
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2.12% |
$500 |
- |
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Rate History: 2.27% → 2.12% |
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2.00% |
$0 |
- |
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Azoic | Feb 25, 2022 I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More |
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2.00% |
$10,000 |
- |
Learn More
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Rate History: 2.00% → 2.50% → 2.00% |
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Hayley7788d@outlook.com | Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More |
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1.75% |
$1,000 |
- |
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Rate History: 1.00% → 1.75% |
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1.75% |
$500 |
- |
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1.75% |
$1,000 |
- |
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1.50% |
$1,000 |
- |
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1.50% |
$500 |
- |
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1.25% |
$10,000 |
19.01 |
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Run | Jan 12, 2021 They put paychecks on hold for a day so don’t expect your paycheck right away and they don’t answer their phones Read More |
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1.15% |
$10,000 |
8.58 |
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1.02% |
$500 |
- |
Learn More
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Rate History: 1.00% → 1.02% |
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1.01% |
$10,000 |
8.62 |
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1.00% |
$500 |
- |
Learn More
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Karen nicoli | Jan 23, 2017 2.50 Read More |
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1.00% |
$500 |
- |
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0.90% |
$10,000 |
5.21 |
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0.80% |
$500 |
- |
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Rate History: 0.70% → 0.80% |
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0.75% |
$10,000 |
14.43 |
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Bill Quinn | Feb 21, 2015 Interesting. Is there an approximate Texas ratio for a bank at which other banks may become very interested in an acquisition. Read More |
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0.75% |
$10,000 |
17.28 |
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0.75% |
$10,000 |
19.01 |
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rand | Apr 18, 2016 No 2% 12 month CD unless IRA. Misleading at best. Read More |
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0.75% |
$500 |
- |
Learn More
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0.75% |
$1,000 |
- |
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0.65% |
$500 |
- |
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0.65% |
$500 |
- |
Learn More
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0.60% |
$10,000 |
23.80 |
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0.60% |
$10,000 |
9.61 |
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0.55% |
$500 |
18.01 |
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Thomas DeMauro | Aug 28, 2022 Rates are totally uncompetitive now. Read More |
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0.50% |
$1,000 |
- |
Learn More
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0.50% |
$10,000 |
19.01 |
Learn More
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Run | Jan 12, 2021 They put paychecks on hold for a day so don’t expect your paycheck right away and they don’t answer their phones Read More |
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0.40% |
$50,000 |
- |
Learn More
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0.40% |
$500 |
- |
Learn More
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0.40% |
$1,000 |
- |
Learn More
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0.40% |
$2,000 |
- |
Learn More
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Rate History: 0.55% → 0.50% → 0.40% → 0.50% → 0.40% |
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0.30% |
$1,000 |
- |
Learn More
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0.20% |
$10,000 |
12.19 |
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Denyse DuBrucq | Jan 1, 2016 I very much prefer banking here. Everyone is so friendly and know who is calling by voice. Your help getting me through this year where I did as much as possible to launch my business, CryoRain Inc., is ... Read More |
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0.15% |
$10,000 |
17.65 |
Learn More
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marcus | Nov 1, 2021 worst bank ever and they racist ruth bitchell and the rest of them ban frontline workers that complain about their mistakes this only happens to blacks Read More |
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0.03% |
$100,000 |
- |
Learn More
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Treasure | Jul 24, 2023 BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular... Read More |
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BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.
Five-year CDs are the big kahuna of the CD world. While banks may offer six-year, seven-year, or even 10-year CDs, the five-year is the longest of the most commonly offered terms. The 5-year CD is therefore often the highest offer at your local bank. Therefore, the temptation for those looking for yield is to open one, deposit money, and forget about it for five years. This could be a mistake. In rising rate environments a five-year CD may not be a good investment.
Like every other CD term, five year CDs from FDIC insured banks are protected up to FDIC limits (generally $250,000 per account holder per bank). If your deposit is over the FDIC limit then you may not receive the uninsured money in case of a bank failure.
The principle threat to a a five year CD is inflation. If the CD is opened in a low rate environment, and rates and inflation subsequently rise, then inflation will erode the value of the certificate of deposit over its five years. For example, if a depositor opened a five year CD in year 1 with a yield of 2.05% APY and inflation at 1.5%, then the real return is .55 percentage points. But if inflation rises the next year to 2.5% and stays there for the next four years, then the CD in real terms is losing money every year: 2.05% - 2.5% = -.45%.
While it is impossible for anyone to predict too far into the future, savers should be cognizant of the economic environment before locking up money for a five year time-period. Our rate analysis page provides some insight into where we think rates will go.
On the other hand, if rates are falling and will continue to do so for some time due to an economic recession then it makes sense to lock in a higher rate with a five year CD. Savers who opened five year CDs in 2008 immediately after the financial crisis were able to lock in rates in the 6% range, a great move considering two years later a five year CD paid below 3%.
Five-year CDs currently pay about 1.00% more in interest than a one year CD. In general, CDs of this duration are best opened as part of a laddered CD portfolio or if the depositor thinks that rates will either stagnate or drop over the next couple of years.
Opening a five year CD in a branch is relatively easy and similar to every other CD term. Most banks require the customer be a resident of the United States and most branch-based banks ask that the account be opened in the bank. Funding can be performed by transferring money that is already located at that bank or by check or ACH transfer from another bank. The CD can be opened that day and the rate locked.
With longer term CDs, savers should make sure they put a record of the CD in a safe place and that if they move, they forward their new address to the bank. In cases where the bank cannot find the CD holder, the bank may hand the funds over to a state authority as a lost deposit, and it will require onerous paperwork to reclaim the money.
All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.
To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.
Find out how much extra money you can earn by moving your bank money into an account that pays more.
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