1.77% APY for 10-month money in the bank deal with EBSB Direct

EBSB Direct continues to push for the best cd rates for their 10-month certificate of deposit earning 1.77% APY. The best interest rates for this online CD can be enjoyed by opening an account for at least $1,000. They also have a 36-month CD with a current interest rate of 2.75% APY.

The website of the bank does not contain much information on how you can take advantage of the best cd rates. We called the bank through their hotline 800-657-3272 to inquire.

According to the customer service representative, the CDs are offered nationwide. You can apply online. The cd rates are typically updated every Wednesday so it will be best to check for the latest figures before signing up for anything. You can send your funding through ACH from an external account.

Trial deposits will be made to verify that you really own the account. According to the FAQ of the website, EBSB does not perform a hard credit pull when you open an account.

The interest rates will be locked on the day you submit your application. The certificate of deposit rates are accurate as of February 3 but again these can be changed any time without notice. Interes rates accrue on a daily basis and compounded every month.

Early withdrawal penalties apply. You can ask the CSR for the details of this and how it will affect your deposit. You are given a 10-day grace period upon maturity of the account. If you decide to take out the funds, you can receive the money via ACH transfer.

EBSB Direct is the online division of East Boston Savings Bank. The mother company operates 13 branches and has a significant amount of assets at $1.15 billion and deposits at $931 million.

The bank is performing well with Bankrate.com issuing a 3-star review for its performance. BauerFinancial stamped their report with 4 stars for excellent soundness and safety.

EBSB is a member of the FDIC and DIF.

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