East Boston Savings Bank currently offers some of the top CD rates in the commonwealth of Massachusetts. This includes a 60-month CD that earns a 0.90% APY. While this isn’t the absolute highest CD rate in this commonwealth, this offer is only slightly below the national average for 60-month CD rates.

This same bank offers fairly similar terms on 48-month and 30-month CDs, as well. As such, you’ll be able to obtain 0.90% APY on both of those types of CD account. Those rates are actually a bit above the national average, making them more advantageous to residents of Massachusetts.

Money Market Rates up to 0.73%.

All of these account types come with a $1,000 (1k) minimum deposit amount. Each come with the same types of fees for transactions, also, with domestic wire transfers inbound and outbound incurring $15 and $25 fees, respectively. 

Also, all CDs opened with this bank come with a 360 day period after opening in which penalties may be applied for an early withdrawal. That being said, this bank still allows for some early withdraws, so long as it is only for part of the original deposit’s value.

East Boston Savings Bank also offers several worthwhile IRA rates for Massachusetts residents to consider. This includes a 60-month account that features the same 0.90% APY as their CD accounts. While this is just below the national average, this bank does only require a minimum deposit of $500. This same deposit minimum also applies to this bank’s 45-month and 30-month IRA accounts, which feature 0.90$ APY rates that are above their respective national averages.

Rates as of July 23, 2020


Each of East Boston Savings Bank’s various CD and IRA accounts are available to residents of the Commonwealth of Massachusetts. Namely, residents in the following cities can visit their local branch to learn more about these offers:

  • Allston
  • Belmont
  • Boston
  • Brighton
  • Brookline
  • Burlington
  • Cambridge
  • Danvers
  • Everett
  • Lynn
  • Lynnfield
  • Medford
  • Melrose
  • Peabody
  • Revere
  • Roslindale
  • Salem
  • Saugus
  • Somerville
  • South Boston
  • Wakefield
  • West Roxbury
  • Winthrop

East Boston Savings Bank does not list other specialized requirements for opening a CD or IRA account, besides residency and the necessary minimum deposit. The bank may still choose to perform other financial background checks before approving you for an account, however.

Bank Overview

Established in 1991, East Boston Savings Bank is a recognized banking institution in Boston and throughout Massachusetts. Currently, they are 6th largest bank in the commonwealth, as well as the 197th largest bank in the nation. It is primarily regulated by the FDIC and holds an “A” rating based upon their size, health, and stability as an institution.

In terms of its individual ratings, East Boston Savings Bank currently maintains an “A+” rating for its Texas Ratio and Texas Ratio Trend. This is because its Texas Ratio itself only stands at 0.34%., which is far below the “at risk” rating level of 100%. Its Capitalization rating of 11.6% is also solid enough to earn an “A” rating. It’s only weak point is its Deposit Growth, which has dipped by 1.82% recently and earned only a “C” rating.