Eastern Bank out of Boston has recently gained a reputation for making CDs and other types of banking accounts accessible to a wider range of citizens. For example, this bank currently offers an excellent 60-month CD that comes with a 0.20% APY. That may not sound like much of an offer at first, but these CDs are made much more enticing by their low $500 minimum deposit.

As part of their premier CD program, Eastern Bank also offers similar terms for their 12-23 month, 24-35 month, 36-47 month, and 48-59 month CDs. In addition, all of these CD accounts come with a variety of add-ons that make it easier to save money while utilizing the account. For example, Eastern Bank does not charge any fees for domestic wire transfers, both outgoing and incoming.

Eastern Bank’s CD accounts do come with one noteworthy require, however, apart from their minimum deposit threshold. They do require individuals or businesses opening a new CD to have an existing relationship with the bank. As such, it is common for those looking to take advantage of these offers to open a checking or savings account with Eastern Bank, which currently offer a 0.20% or 0.02% APY, respectively (among other benefits).

Annual Percentage Yield (APY) is accurate as of 07/23/2020 and is subject to change at any time.

At Eastern Bank, Massachusetts and New Hampshire citizens are also able to open IRA accounts at fairly competitive rates. For example, this bank’s Premier IRA program offers a 0.20% APY on a 60-month account term. Even a shorter term account at 12-23 months offers the same APY, thus allowing members to choose an option that meets their needs effectively.


Most of Eastern Bank’s most popular CDs and IRA options are available to citizens living within the jurisdiction of their 90 branches. These branches are located in two states, Massachusetts and New Hampshire. Specifically, you’ll be able to begin the process of opening one of these accounts by contacting the bank online or visiting one of these local branches:

New Hampshire Branches

Bedford, Manchester, Nashua, Concord, Portsmouth, Dover

Massachusetts Branches

Andover, Auburndale, Beverly, Boston, Braintree, Bridgewater, Brockton, Brookline, Burlington, Cambridge, Chelmsford, Chelsea, Danvers, Dedham, Dorchester, Dracut, Duxbury, East Boston, East Wareham, Everett, Falmouth, Hingham, Hyannis, Jamaica Plain, Kingston, Lakeville, Lawrence, Lexington, Lowell, Lynn, Lynnfield, Malden, Marblehead, Marion, Marshfield, Marstons Mills, Mashpee, Mattapoisett, Medford, Melrose, Natick, Newburyport, Newton, Norwell, Peabody, Plymouth, Quincy, Randolph, Reading, Revere, Salem, Sandwich, Saugus, Sharon, Somerville, South Boston, Stoneham, Stoughton, Swampscott, Taunton, Wakefield, Wareham, Watertown, West Plymouth, Westford, Weymouth, Wilmington

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Credit Union Overview

Eastern Bank, based out of Boston, has remained one of the most prominent banks in all of the Commonwealth of Massachusetts. In fact, this bank is currently the 3rd largest in the entire commonwealth, despite only dating back to 1989. Since that time, the bank has grown to be one of the most visible in their geographic region, with 90 branches and counting between Massachusetts and New Hampshire.

This FDIC-regulated institution also maintains top marks from many ratings groups. For example, Eastern Bank currently maintains an “A+” rating across 3 important metrics. Among them, this bank’s Texas Rating and Deposit Growth of 2.49% and 11.36%, respectively, are some the best in their region. Eastern Bank’s Texas Ratio Trend has been fairly neutral, though, leading to only a “C+” rating on that front.