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CD Early Withdrawal Penalty Survey: Boston

CD Rates » CD Penalty Chart » Boston

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

TermInstitutionMinimum depositYieldPenalty for early withdrawalReduction in principal if accrued and unpaid interest is less than the penalty?Grace period on automatically renewable CDsAre early withdrawal penalties the same for retirement CDs?
3-monthBank of America$1,0000.03%90 days' interest on the amount withdrawnYes7 daysNot offered
3-monthCitizens Bank$1,0000.03%$50, plus greater of 90 days' interest on withdrawn amount or half of the remaining interest to be earnedYes10 daysYes
3-monthEastern Bank$2,5000.05%91 days' interest on amount withdrawnYes10 daysNot offered
3-monthFirst Republic Bank$10,0000.05%6 months' interest on the amount withdrawnYes7 daysNot offered
3-monthMiddlesex Savings Bank$2500.15%3 months' interestYes10 daysYes
3-monthPeople's United Bank$1,0000.1%1 month of interestYes10 daysYes
3-monthSalem Five$2,5000.1%2% of amount withdrawnYes10 daysYes
3-monthSantander Bank$5000.01%3 months' interestYes7 daysYes
3-monthTD Bank$2500.2%3 months' interestYes10 daysYes
6-monthBank of America$1,0000.03%90 days' interest on the amount withdrawnYes7 daysYes
6-monthCitizens Bank$1,0000.03%$50, plus greater of 90 days' interest on withdrawn amount or half of the remaining interest to be earnedYes10 daysYes
6-monthEast Boston Savings Bank$2,5000.3%1 months' interestYes10 daysYes
6-monthEastern Bank$2,5000.05%91 days' interest on amount withdrawnYes10 daysYes
6-monthFirst Republic Bank$10,0000.35%6 months' interest on the amount withdrawnYes7 daysNot offered
6-monthMiddlesex Savings Bank$2500.35%3 months' interestYes10 daysYes
6-monthPeople's United Bank$1,0000.15%3 months' interestYes10 daysYes
6-monthSalem Five$2,5000.15%2% of amount withdrawnYes10 daysYes
6-monthSantander Bank$5000.01%3 months' interestYes7 daysYes
1-yearBank of America$1,0000.05%180 days' interest on the amount withdrawnYes7 daysYes
1-yearCitizens Bank$1,0000.03%$50, plus greater of 180 days' interest on amount withdrawn or half of the remaining interest to be earnedYes10 daysYes
1-yearEast Boston Savings Bank$1,0000.45%3 months' interestYes10 daysYes
1-yearEastern Bank$5000.1%182 days' interest on amount withdrawnYes10 daysYes
1-yearFirst Republic Bank$10,0000.5%6 months' interest on the amount withdrawnYes7 daysYes
1-yearMiddlesex Savings Bank$2500.5%3 months' interestYes10 daysYes
1-yearPeople's United Bank$1,0000.35%3 months' interestYes10 daysYes
1-yearSalem Five$5000.25%4% of amount withdrawnYes10 daysYes
1-yearSantander Bank$5000.2%6 months' interestYes7 daysYes
2-yearBank of America$1,0000.1%180 days' interest on the amount withdrawnYes7 daysYes
2-yearCitizens Bank$1,0000.03%$50, plus greater of 180 days' interest on amount withdrawn or half of the remaining interest to be earnedYes10 daysYes
2-yearEast Boston Savings Bank$1,0000.65%3 months' interestYes10 daysYes
2-yearEastern Bank$5000.2%182 days' interest on the amount withdrawnYes10 daysYes
2-yearFirst Republic Bank$10,0001.25%15 months' interest on the amount withdrawnYes7 daysYes
2-yearMiddlesex Savings Bank$2500.75%6 months' interestYes10 daysYes
2-yearPeople's United Bank$1,0000.5%6 months' interestYes10 daysYes
2-yearSalem Five$5000.4%4% of amount withdrawnYes10 daysYes
2-yearSantander Bank$5000.2%6 months' interestYes7 daysYes
5-yearBank of America$1,0000.15%365 days' interest on the amount withdrawnYes7 daysYes
5-yearCitizens Bank$1,0000.03%$50, plus greater of 180 days' interest on withdrawn amount or half of the remaining interest to be earnedYes10 daysYes
5-yearEast Boston Savings Bank$1,0001.4%6 months' interestYes10 daysYes
5-yearEastern Bank$5000.5%182 days' interest on the amount withdrawnYes10 daysYes
5-yearFirst Republic Bank$10,0002%15 months' interest on the amount withdrawnYes7 daysYes
5-yearMiddlesex Savings Bank$2501.25%6 months' interestYes10 daysYes
5-yearPeople's United Bank$1,0000.95%6 months' interestYes10 daysYes
5-yearSalem Five$5001.15%4% of amount withdrawnYes10 daysYes
5-yearSantander Bank$5000.3%12 months' interestYes7 daysYes
5-yearTD Bank$2500.85%24 months' interestYes10 daysYes

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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