Best CD Rates In Massachusetts For 2025

Service Credit Union certificates provide competitive rates and flexible terms ranging from three months to five years. The six-month Service Credit Union Certificates of Deposit offer the highest return at 4.50% APY. The 12-, 15- and 24-month CDs offer competitive APYs as well.

You do have to meet specific eligibility requirements to become a Service Credit Union member, but there are several ways to qualify. For example, membership is open to active-duty service members, veterans and their families, and members of one of the bank’s partner organizations or employer groups.

Interest compounds and credits to your account monthly. At maturity, you have the option to withdraw your money or roll the funds into a new certificate. The funds you deposit into a Service Credit Union certificate are insured for up to $250,000 by the federal government.

TERM	APY
3 Months	4.00%
6 Months	4.50%
9 Months	4.25%
12 Months	4.00%
15 Months	3.50%
18 Months	3.25%
24 Months	3.00%
36 Months	2.35%
48 Months	2.45%
60 Months	2.50%

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Compounding Schedule
The yields earned on credit union accounts are referred to as dividends rather than interest. Dividends are compounded and credited to your certificate account monthly.

Membership
You need to become a member of Service Credit Union to open an account. There are a variety of ways to qualify, including those in active-duty military service and their family members. Anyone, however, can join by becoming a member of the American Consumer Council or Financial Fitness Association.

Santander CDs require a low minimum investment of $500, but just three CD terms are available: six, 13 and 17 months. Rates vary by location, and individual branches may offer a variety of CD terms.

You must visit a Santander Bank branch to open a CD. The bank has nearly 500 branch locations in the northeast and Florida.

Interest compounds daily and is credited to your account monthly or at maturity, depending on the term length. A penalty applies for withdrawing funds before the maturity date and depends on the term. When a CD matures, you have seven days to make changes to the account before it automatically renews for the same term.

Schwab CD OneSource isn’t a specific CD account—instead, it’s a CD marketplace offered by the brokerage firm Charles Schwab. That means any CD purchased through Schwab OneSource is a brokered CD. Customers can shop for and compare various brokered CDs through the online marketplace before making a purchase.

Rather than compounding, interest on a brokered CD is paid out to customers regularly through the CD’s term. Deposits still receive FDIC insurance as long as the CDs are issued to the broker from an FDIC-insured bank. Investors can also trade or sell brokered CDs before maturity on the secondary market without incurring a penalty.

A benefit of brokered CDs like those offered through Schwab OneSource is competitive interest rates. APYs available from Schwab OneSource are currently as high as 4.45%.

You must be a Charles Schwab customer to open a CD, and these accounts require a $1,000 minimum deposit.

Interest on Schwab OneSource CDs doesn’t compound. Instead, it’s paid out in intervals throughout the CD’s term. Customers can sell CDs on the secondary market without penalty before maturity, though it’s possible they can lose value. And like bank CDs, you can withdraw your full principal balance at maturity.

Hanscom Federal Credit Union offers certificates with terms ranging from three months to five years. With a minimum investment of $1,000, you can earn 3.75% to 4.25% APY. The credit union’s six- to 11-month and 12- to 17-month certificates pay the highest rates.

While there are 21 Hanscom Federal Credit Union branches in Massachusetts and Virginia, you can also bank digitally through your online account or the credit union’s mobile app.

Membership is required to open any type of account at a credit union. At Hanscom Federal Credit Union, membership is available for those who meet one of the following requirements:

• You’re a member of a Hanscom Federal Credit Union partner organization
• You have an immediate family who’s a member
• Your employer offers Hanscom Federal Credit Union as a benefit
• You are a current or retired federal employee in Massachusetts
• You are an active or retired member of the military

You can apply for membership online or in person. Once you’re a member, you can open a certificate in person, via email, fax, phone or postal mail.

Interest compounds monthly. Those who meet membership criteria can apply for membership and open an account online or in person. You’ll have to pay penalties if you make withdrawals before maturity. For terms 12 months or less, the penalty is equal to 90 day’s worth of dividends on the amount withdrawn. For terms longer than 12 months, the penalty jumps to 180 days’ worth of dividends.

USAlliance Federal Credit Union certificates come in terms ranging from three months to five years and require a relatively low minimum investment of $500. The credit union’s special certificates offer promotional rates, including up to 4.40% APY for a 12-month certificate.

Residents of Connecticut, Massachusetts, New Jersey and New York can bank in-person at one of the credit union’s nine branch locations. While its footprint is small, the credit union participates in shared branch banking with over 5,600 branch facilities and offers a network of 30,000 fee-free ATMs.

You have to be a member to open a certificate account with USAlliance, but anyone can join by becoming a member of one of the credit union’s partner associations. You’ll also need to open a free checking or savings account to become a member.

Dividends compound daily and are credited to your account monthly. You can withdraw your dividends penalty-free at any time, but this may reduce your earnings. Early withdrawal of the principal will result in a penalty of 180 days’ worth of dividends for certificates with terms shorter than 18 months and 360 days’ worth of dividends for certificates with terms of 18 months or longer.