Deal Summary:

Florence Savings Bank offers a great selection of certificate of deposit ranks, with the best rate coming at 1% APY for a 5 year certificate. The minimum deposit is $500 and the interest is paid on the maturity date.

Florence Savings CD Options:

We also offer many options for shorter term certificates of deposit. 4 year certificates with a minimum deposit of $500 will yield our customers .5% per year. 3 years certificates earn .4% APY.  We also offer a 2 year option and an 18 month option for plenty of variety.

Customers who don’t want a particular long term investment have options too with a 17 month easy out certificate of deposit at .15% APY with a larger deposit of $5,000 or a 7 month easy out at .1%. Regular certificates of deposit go as short as 3 months at .05% APY.

Our CD options are designed to appeal to people who don’t want their cash locked up long term with our easy out method, and to give a good rate back to those who don’t mind their cash in a locked account for 5 years. There is a penalty for early withdrawal and all interest is paid on maturity.


Before you open your certificate of deposit, we will talk to you about how to become a member then open a checking or savings account. The purpose of the checking or savings account is to have somewhere to deposit your interest earnings.


Florence Saving Bank has 11 branches in Massachusetts and a larger ATM network for fast, easy, and free ATM withdrawals throughout the area.

Bank Overview

Florence Bank goes way back to 1873. Our bank starts in our community and our communities needs. In 2020, we raised and donated nearly $100,000 for people facing food insecurity, including organizations like Lorraine’s Soup Kitchen and Pantry. This helped human services programs like Lorraine’s, who were otherwise largely unable to do fundraisers during the COVID pandemic. These organizations saw an additional 200-300 families per week with financial and food issues that needed help. We’ve also given donations of $1,000 or more to multiple charities, organizations, and churches who are fighting homelessness and food insecurity for the past year.

One of our biggest goals beyond helping with food issues in our community is financial education and literacy. Our mission as a bank is to help all of our customers achieve their financial goals. This can range from simply helping a customer finance a vehicle to get their kids to activity and themselves to work, to adding on to their home or renovating. These projects require cash and we are happy to help them develop themselves and our community.Come to Florence Bank or visit our website for more information on opening an account.