Which Boston Bank Has The Highest CD Rates?

Leader Bank! They’re currently offering 5.00% APY for CDs ranging from 3, 6, and 9 months.

However, Members Plus Credit Union is offering a 7.00% APY for a 12-month CD. Depositors must become a member of the credit union and maintain a $5.00 balance in their membership share account.

Despite both institutions having pretty generous rates, Leader Bank only pays simple interest, while Members Plus compounds interest daily and pays it monthly. Leader Bank also requires twice the minimum deposit ($1,000) compared to Members Plus ($500).

The winner of this CD battle (in our opinion) comes down to your specific banking needs. If either of these options are conveniently located in walking-distance from you, and they’re an institution you're willing to test out, they may be a great addition to your money management plan.

Leader Bank	Members Plus Credit Union
5.00% APY (on 3-9 month CDs)	7.00% APY (on 12-month CD)
$1,000 minimum deposit	$500 minimum deposit
Simple Interest	Daily Compounding
Location: Seaport	Locations: Dorchester

Last Updated October 19, 2024

Want to compare more CDs in Boston? We made a list here. And if you're managing multiple accounts, this book can help keep you organized.