Build your dreams.

With a competitive Certificate of Deposit (CD) rate and a fully insured account

15 Month CD
5.00%APY*
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Quickly and easily open your CD online, or visit one of our locations for help from our experts. Simply choose the length of your term and deposit amount, then sit back and watch your savings grow. It’s that easy. 

Safely grow your money for your long-term savings goal. All deposits at Needham Bank are insured in full through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).

It’s easier than ever to visit us in person for advice and support. The experts at every Needham Bank branch location are here to help you decide which CD option makes the most sense for you, balancing your savings goals with your financial needs.

Open Your 15 Month CD Online

Quickly and easily open your CD online within minutes so you can start growing your savings with a safe, dependable rate of return. 

View All CD Rates

We also offer CDs with other terms, as well as IRA CDs, so you can choose what works best for your financial needs. 

How to Save More Money with CDs/Share Certificates

A certificate of deposit is a smart savings option that helps you save more money over a period of time. Learn how to save more with CDs from Needham Bank.

Frequently Asked Questions

A certificate of deposit, or CD for short, is a type of long-term savings vehicle that allows you to deposit a certain amount of money for a specific period of time. While you won’t be able to access your funds for that period of time, you’ll receive higher interest payments in exchange.

A certificate of deposit is a smart savings option that allows you to earn higher interest on your funds by leaving it on deposit for a specified period of time (or term). You choose the length of the term. At Needham Bank, CD terms range from three months to five years. Then, you deposit a minimum amount of money and leave it to grow for the duration of that term. When the term is up — in other words, when your CD reaches its maturity date — you’ll get your money back with interest!

Your Needham Bank CDs are always insured in full through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).

If you’re looking for a low-risk nest egg, CDs can absolutely be worth it! CDs get higher interest rates than regular savings, which means more funds for your long-term savings goals.

CDs are more “one-time deposit,” less “piggy bank.” If you don’t want to tie up too much of your savings into a single CD, you can try a CD laddering strategy, where you spread out your investment over multiple CDs with different maturity dates. But if you’re looking for a savings account you can regularly contribute to, we have options!

IRA stands for “individual retirement account.” While many people think of IRA savings accounts like Traditional IRAs and Roth IRAs, an IRA CD works more like a regular CD. They usually come with a required minimum deposit and a fixed rate of return on your money until it fully matures.

*Annual Percentage Yield (APY) as of February 8, 2024. 9 Month CD and 15 Month CD require a minimum balance of $1,000 to earn stated APY. Rates subject to change. Fees and early withdrawal penalties could reduce earnings. Personal accounts only. Some restrictions apply.