Deal Summary

3-year term with 0.20% APY and a minimum deposit of $1,000

Berkshire Bank’s CD Rates

Berkshire Bank has many short-term options with low rates. The minimum term is three months with the longest term being three years.

The 3-year term has the second-highest APY at 0.20% with deposits between $1,000 and $9,999. At $10,000, the APY increase to 0.25%.

The 2-year term and the 18-month options both have an APY of 0.15% when the deposit is less than $10,000. With a deposit of more than $10,000, the APY is 0.25%.

The 14-month options offer the highest APY at 0.50% for less than $10,000 and 1.75% for deposits between $10,000 and $499,999.

The 12-month, 9-month, 6-month, 4-month, and 3-month term all have a 0.15% APY. For deposits of $10,000 or more, the 12-month and 9-month options will have an APY of 0.30%. The 6-month, 4-month, and 3-month terms will increase to 0.25% APY.

The 2-month and 1-month options both start with a 0.05% APY and increases to 0.10% for a starting balance of $10,000 or more.


Anyone can open a certificate of deposit at any Berkshire Branch, but it cannot be opened online. You do not have to be an existing customer to open a CD.

Terms and Conditions

If the money is withdrawn early, half of the interest earned is lost. All accounts have to have a minimum starting balance of $10,000 in order to start accruing interest. Most of the account terms are generally flexible and are great for people who want to create a short-term investment. A large deposit could create more interest earnings if you have the funds available.

Branches in Massachusetts

Boston, West Springfield, Westborough, Pittsfield, Worcester, Springfield, South Hadley, Marlborough, Webster, Sheffield, Agawam, Westfield, Great Barrington

Branches in Connecticut

Rocky Hill, West Hartford, Glastonbury, Farmington, West Simsbury, Windsor, Vernon, South Windsor, Hartford, Enfield, Hebron, East Hampton, Colchester, Groton, Lebanon, Moosup

Branches in Vermont

Ludlow, Manchester Center, Rutland, Arlington

Branches in Pennsylvania

Yardley and Horsham

Branches in New York

119 Avenue J, Brooklyn, 5 Broadway, 4 East 39th St, 210 Pinehurst Avenue

Branches in Rhode Island

Westerly, Newport, Portsmouth, Middletown, Wakefield, Pawcatuck, Dayville, Webster

Bank Overview

Berkshire Bank was originally founded on February 6, 1846. It was first opened as Berkshire Savings Bank. It changed its name in 1997 when it acquired Great Barrington Savings Bank.

It has since acquired many other banks since then including Woronoco Savings Bank in 2005, Factory Point National Bank in 2007, Legacy Banks in July 2011, Hampden Bank in April 2015, Bank and Trust Company in October 2017, and SI Financial Group in 2019, as well as several others.

Their main headquarters are in Boston but they have full-service branches in several states. It is the fourth largest bank in Massachusetts and has 132 locations. Their annual revenue is about $383.1 million and they have about 1,917 employees.