Q:

Does Needham Bank offer certificates of deposit with competitive rates?

A:

Quick Answer

As of September 2015, Needham Bank offers Certificates of Deposit with rates that range from 1.73 percent for a five-year commitment to 0.25 percent for three months. The average rate nationwide for a five-year Certificate of Deposit is 0.78 percent, while the average three-month rate is 0.08 percent.

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Full Answer

The average rate for a four-year Certificate of Deposit is 0.60 percent, while Needham offers customers 1.49 percent. The average rate for a three-year Certificate of Deposit is 0.48 percent, while Needham offers customers 1.24 percent. The average rate for a two-year Certificate of Deposit is 0.34 percent, while Needham offers customers 1.00 percent. The average rate for a one-year Certificate of Deposit is 0.20 percent, while Needham offers customers 0.70 percent.

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