Northern Bank Direct CD Rates Changed

Northern Bank Direct CD rates were recently changed. Most of the changes were higher except for CD rates on 2 year certificates of deposit. The largest CD rate changes were on Northern Bank Direct's 3 year and 5 year certificates of deposit.

Due to the rate changes, Northern Bank Direct has the best CD rate in our 3 year CD rate database. Northern Bank Direct's other CD rates are not the best CD rates available right now but they are competitive.

Northern Bank Direct is the online banking division of Northern Bank & Trust Company. The bank has been in existence since 1960. S&P rated Northern Bank & Trust Company #1 in New England among Banks with $500M to $5B in assets (source: S&P Global Market Intelligence Rankings).

Northern Bank & Trust Company also has a 4-Star Safe & Sound rating with Bankrate.com. Deposits at Northern Bank Direct are FDIC insured under the Northern Bank FDIC certificate number 18266. The bank's corporate website is at http://www.nbtc.com.  

Northern Bank Direct CD Rates

• 1 Year CD - 1.50% - Increased from 1.06%
• 2 Year CD - 1.75% - Decreased from 2.26%
• 3 Year CD - 2.55% - Increased from 1.35% * Best 3 Year CD Rate*
• 4 Year CD - 2.56% - Increased from 2.51%
• 5 Year CD - 2.57% - Increased from 1.65%

3 year and 5 year certificates of deposit had the biggest rate increases. 3 year certificates of deposit increased 120 basis points. 5 year CD rates increased 92 basis points.

The Federal Reserve is increasing the federal funds rate because of strong growth and higher inflation. As a result, it's more than likely this and other banks will be increasing rates more in 2018. Since CD rates are rising, you're better off investing in shorter term certificates of deposit. Locking into a lower long term CD rate will consequently give you an overall lower rate of return.

To see a current list of rates from Northern Bank Direct check our rate database. You can also find a list of the same rates at the bank's website: Current CD Rates at Northern Bank Direct.