EBSB Direct is offering a CD rate promotion on its 36-Month (3-Year) CD, which is paying a stellar 2.25% APY. This APY is higher than the national average 36-month CD rate of 1.40% APY, according to the banks tracked on MyBankTracker.com.

EBSB Direct is the online division of East Boston Savings Bank that caters to customers outside of their local branch locations in Boston, Massachusetts. The 36-Month CD is offering a highly competitive rate of 2.25% while their promotional 10-Month CD at 1.05% APY is less attractive.

Currently, EBSB Direct only accepts new customers from New England and New York State and their CD products require a minimum opening deposit of $1,000.

Comparing 36-Month CD Rates From Other Banks

Although the national average 36-month CD rate is 1.40% APY, there are several banks offering 36-month CD rates that are paying around 2.00% APY.

BankCD Maturity TermAPY (as of 1/13/11)Minimum opening deposit
EBSB Direct36-months2.25%$1,000
OneWest Bank36-months2.00%$5,000
Bank Of Internet36-months1.91%$1,000

The penalty for early withdrawal is equal to 6 months interest on the amount withdrawn. Deposits at EBSB Direct are insured by the FDIC and DIF (Deposit Insurance Fund). The DIF is a private insurance fund that insures all deposits in excess of the FDIC limits at Massachusetts-chartered savings institutions. It is simply added security that you won’t lose any money if you decided to deposit more than $250,000 (the new FDIC maximum).

For more information or to open an account, click here.

If you would like to check out other CDs available, visit our CD rates page.

About EBSB Direct

EBSB Direct is the online division of East Boston Savings Bank (EBSB), a Massachusetts FDIC-insured bank with 13 full service branches and one loan facility operating in the greater Boston metropolitan area. EBSB Direct products are exclusive to online customers who aren’t within the local area of EBSB branches. All deposits in EBSB are insured by the FDIC and DIF.

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