Bankrate.com’s 2015 CD Early Withdrawal Penalty Survey collected data in Boston and other cities for 5 of the most common CD maturities being sold today. This chart gives you an easy way to compare CD offerings by institution, metropolitan area and maturity using the survey data we collected in October of this year.

Compare Boston CD rates

Boston

Term Institution Minimum deposit Yield Penalty for early withdrawal Reduction in principal if accrued and unpaid interest is less than the penalty? Grace period on automatically renewable CDs Are early withdrawal penalties the same for retirement CDs?
3-month Bank of America $1,000 0.03% 90 days’ interest on the amount withdrawn Yes 7 days Not offered
3-month Citizens Bank $1,000 0.03% $50, plus greater of 90 days’ interest on withdrawn amount or half of the remaining interest to be earned Yes 10 days Yes
3-month Eastern Bank $2,500 0.05% 91 days’ interest on amount withdrawn Yes 10 days Not offered
3-month First Republic Bank $10,000 0.05% 6 months’ interest on the amount withdrawn Yes 7 days Not offered
3-month Middlesex Savings Bank $250 0.15% 3 months’ interest Yes 10 days Yes
3-month People’s United Bank $1,000 0.1% 1 month of interest Yes 10 days Yes
3-month Salem Five $2,500 0.1% 2% of amount withdrawn Yes 10 days Yes
3-month Santander Bank $500 0.01% 3 months’ interest Yes 7 days Yes
3-month TD Bank $250 0.2% 3 months’ interest Yes 10 days Yes
6-month Bank of America $1,000 0.03% 90 days’ interest on the amount withdrawn Yes 7 days Yes
6-month Citizens Bank $1,000 0.03% $50, plus greater of 90 days’ interest on withdrawn amount or half of the remaining interest to be earned Yes 10 days Yes
6-month East Boston Savings Bank $2,500 0.3% 1 months’ interest Yes 10 days Yes
6-month Eastern Bank $2,500 0.05% 91 days’ interest on amount withdrawn Yes 10 days Yes
6-month First Republic Bank $10,000 0.35% 6 months’ interest on the amount withdrawn Yes 7 days Not offered
6-month Middlesex Savings Bank $250 0.35% 3 months’ interest Yes 10 days Yes
6-month People’s United Bank $1,000 0.15% 3 months’ interest Yes 10 days Yes
6-month Salem Five $2,500 0.15% 2% of amount withdrawn Yes 10 days Yes
6-month Santander Bank $500 0.01% 3 months’ interest Yes 7 days Yes
1-year Bank of America $1,000 0.05% 180 days’ interest on the amount withdrawn Yes 7 days Yes
1-year Citizens Bank $1,000 0.03% $50, plus greater of 180 days’ interest on amount withdrawn or half of the remaining interest to be earned Yes 10 days Yes
1-year East Boston Savings Bank $1,000 0.45% 3 months’ interest Yes 10 days Yes
1-year Eastern Bank $500 0.1% 182 days’ interest on amount withdrawn Yes 10 days Yes
1-year First Republic Bank $10,000 0.5% 6 months’ interest on the amount withdrawn Yes 7 days Yes
1-year Middlesex Savings Bank $250 0.5% 3 months’ interest Yes 10 days Yes
1-year People’s United Bank $1,000 0.35% 3 months’ interest Yes 10 days Yes
1-year Salem Five $500 0.25% 4% of amount withdrawn Yes 10 days Yes
1-year Santander Bank $500 0.2% 6 months’ interest Yes 7 days Yes
2-year Bank of America $1,000 0.1% 180 days’ interest on the amount withdrawn Yes 7 days Yes
2-year Citizens Bank $1,000 0.03% $50, plus greater of 180 days’ interest on amount withdrawn or half of the remaining interest to be earned Yes 10 days Yes
2-year East Boston Savings Bank $1,000 0.65% 3 months’ interest Yes 10 days Yes
2-year Eastern Bank $500 0.2% 182 days’ interest on the amount withdrawn Yes 10 days Yes
2-year First Republic Bank $10,000 1.25% 15 months’ interest on the amount withdrawn Yes 7 days Yes
2-year Middlesex Savings Bank $250 0.75% 6 months’ interest Yes 10 days Yes
2-year People’s United Bank $1,000 0.5% 6 months’ interest Yes 10 days Yes
2-year Salem Five $500 0.4% 4% of amount withdrawn Yes 10 days Yes
2-year Santander Bank $500 0.2% 6 months’ interest Yes 7 days Yes
5-year Bank of America $1,000 0.15% 365 days’ interest on the amount withdrawn Yes 7 days Yes
5-year Citizens Bank $1,000 0.03% $50, plus greater of 180 days’ interest on withdrawn amount or half of the remaining interest to be earned Yes 10 days Yes
5-year East Boston Savings Bank $1,000 1.4% 6 months’ interest Yes 10 days Yes
5-year Eastern Bank $500 0.5% 182 days’ interest on the amount withdrawn Yes 10 days Yes
5-year First Republic Bank $10,000 2% 15 months’ interest on the amount withdrawn Yes 7 days Yes
5-year Middlesex Savings Bank $250 1.25% 6 months’ interest Yes 10 days Yes
5-year People’s United Bank $1,000 0.95% 6 months’ interest Yes 10 days Yes
5-year Salem Five $500 1.15% 4% of amount withdrawn Yes 10 days Yes
5-year Santander Bank $500 0.3% 12 months’ interest Yes 7 days Yes
5-year TD Bank $250 0.85% 24 months’ interest Yes 10 days Yes

Bankrate.com's CD Early Withdrawal Penalty Survey studied 100 banks and thrifts from the top 10 metropolitan markets Oct. 1-13, 2015. Included were the top 5 banks and the top 5 thrifts by deposit size in each market. The top 5 credit unions from across the country by assets also were surveyed. In some instances, the institution did not offer all maturity periods.

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