Best 6-Month CD Rates in Salem, Massachusetts, MA

You are viewing rates from banks across Salem

Below are the best six-month CD Rates from banks with branches in Salem, Massachusetts . Six month CDs are considered short-term cds and the yield is comparable to savings and money market rates. You may want to consider opening a 6 month CD if you are concerned about savings rates dropping and don’t mind locking up your money for six months.

Salem, MA - November 24, 2024

6 Month CD National Average : 0.41% ^?

Banks	APY	MIN	MILES ^?
Northern Bank & Trust Company	5.00%	$500	-	Learn More Add Review
Pentucket Bank	4.85%	$500	-	Learn More Add Review
Rate History: 4.75% → 4.85%
Reading Co-operative Bank	4.75%	$500	-	Learn More Add Review
Rate History: 3.75% → 4.75%
Leader Bank, National Association	4.75%	$1,000	-	Learn More Add Review
Rate History: 1.00% → 5.30% → 5.25% → 5.00% → 4.75%
TD Bank, National Association	4.50% 1.00%	$10,001 $10,000	-	Learn More
Rate History: 5.00% → 4.50%
Turonemckinney17@gmail.com \| May 19, 2018 Experience Read More Reviews (1)
The National Grand Bank of Marblehead	4.50%	$1,000	-	Learn More Add Review
Rate History: 3.75% → 4.50%
Santander Bank, N.A.	4.50% 4.00%	$500 $501	-	Learn More
Rate History: 4.75% → 5.15% → 5.00% → 4.75% → 4.50%
Maggie \| May 11, 2023 They made mistakes twice and would not correct them Read More Reviews (6)
Winchester Co-operative Bank	4.50%	$500	-	Learn More Add Review
Rate History: 5.00% → 4.65% → 4.20% → 4.50%
North Shore Bank, a Co-operative Bank	4.50%	$1,000	-	Learn More Add Review
Rate History: 4.50% → 4.75% → 4.50%
BankGloucester	4.50%	$2,500	-	Learn More Add Review
Rate History: 5.15% → 5.00% → 4.85% → 4.65% → 4.50%
Hingham Institution for Savings	4.30%	$1,000	-	Learn More Add Review
Rate History: 4.85% → 4.80% → 4.50% → 4.39% → 4.30%
Salem Five Cents Savings Bank	4.25%	$2,500	17.66	Learn More
Rate History: 0.05% → 5.00% → 4.50% → 4.25%
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 Reviews (2)
Marblehead Bank	4.25%	$500	-	Learn More Add Review
Rate History: 0.10% → 4.75% → 4.25%
Eagle Bank	4.00%	$500	-	Learn More Add Review
Rate History: 4.45% → 4.25% → 4.10% → 3.71% → 4.00%
Haverhill Bank	4.00%	$500	-	Learn More Add Review
Rate History: 5.25% → 5.00% → 4.75% → 4.50% → 4.00%
Methuen Co-operative Bank	4.00%	$1,000	-	Learn More Add Review
Rate History: 3.00% → 5.00% → 4.75% → 4.50% → 4.00%
Bank of America, National Association	4.00%	$10,000	-	Learn More
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 Reviews (7)
Newburyport Five Cents Savings Bank	3.28%	$2,500	-	Learn More
Richard Cushing \| Mar 27, 2019 Still waiting for a call back from Liz over a long standing,annoying account problem Read More Reviews (1)
Wells Fargo Bank, National Association	2.01% 2.00%	$100,000 $25,000	-	Learn More
Rate History: 2.50% → 2.51% → 2.01%
Thy King \| Feb 6, 2023 after over 100k in transactions through this bank in the course of a year not only did i suffer from fraud but this bank closed my accounts and i have been lliable for all the losses and to top it off with... Read More Reviews (7)
JPMorgan Chase Bank, National Association	1.50%	$10,000	-	Learn More
Rate History: 3.00% → 2.00% → 1.50%
Hayley7788d@outlook.com \| Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More Reviews (18)
Winter Hill Bank, FSB	0.50%	$10,000	21.58	Learn More Add Review
Winchester Savings Bank	0.50%	$10,000	19.94	Learn More Add Review
Coastal Heritage Bank	0.45%	$10,000	11.88	Learn More Add Review
Enterprise Bank and Trust Company	0.35%	$10,000	19.02	Learn More Add Review
StonehamBank, A Co-operative Bank	0.35%	$1,000	-	Learn More Add Review
Cape Ann Savings Bank	0.35%	$500	-	Learn More Add Review
Rate History: 1.00% → 0.35%
Salem Co-operative Bank	0.35%	$10,000	15.27	Learn More Add Review
The Provident Bank	0.30%	$500	15.00	Learn More Add Review
Middlesex Federal Savings, F.A.	0.30%	$500	-	Learn More Add Review
Cathay Bank	0.25%	$50,000	-	Learn More Add Review
MountainOne Bank	0.25%	$10,000	7.29	Learn More Add Review
Cambridge Savings Bank	0.25%	$10,000	23.11	Learn More
rand \| Apr 18, 2016 No 2% 12 month CD unless IRA. Misleading at best. Read More Reviews (2)
Institution for Savings in Newburyport and Its Vicinity	0.25%	$500	-	Learn More
Karen nicoli \| Jan 23, 2017 2.50 Read More Reviews (1)
The Bank of Canton	0.25%	$2,500	-	Learn More Add Review
Rate History: 0.20% → 0.25%
Everett Co-operative Bank	0.20%	$500	-	Learn More Add Review
Wakefield Co-operative Bank	0.20%	$500	-	Learn More Add Review
Webster Bank, National Association	0.10%	$10,000	22.13	Learn More Add Review
The Savings Bank	0.10%	$1,000	-	Learn More Add Review
Bank of New England	0.10%	$10,000	18.69	Learn More Add Review
Eastern Bank	0.05%	$10,000	23.14	Learn More
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 Reviews (1)

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

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PRODUCT INFORMATION

6 Month Branch Certificates of Deposit 2024

Six month certificates of deposit (CDs) provide depositors with a short term vehicle for keeping money safe and earning interest. With a six month CD, depositors agree to leave their money in the account for six months in return for a fixed rate of interest over this period. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.

In general, almost all brick-and-mortar banks provide CDs to their consumers. Opening one involves taking a trip to the branch although some banks allow CDs to be opened via the phone or online. In general, local banks discourage depositors from out-of-state to open accounts, although this is not a hard rule and if you see an attractive rate from a bank in another state, it is worth investigating the account opening policy. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.

The advantages of six month CDs opened via a traditional bank are:

Funds deposited in FDIC banks and within insurance limits are protected by the full faith and credit of the United States government.
CDs provide a predictable, set rate of return.
Depositors can walk into a local branch and open the CD and fund it that day. Question and inquiries can also be handles in-person.

The disadvantages of six month CDs are:

Six month CDs currently pay interest rates significantly below many online and branch-based savings and money market accounts.
The deposited money is committed for six months.
Six month CDs from traditional banks often pay less interest than from online banks.

When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.

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.

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Salem, Massachusetts CD Rates – 6-Month

PRODUCT INFORMATION

6 Month Branch Certificates of Deposit 2024

The advantages of six month CDs opened via a traditional bank are:

The disadvantages of six month CDs are:

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