Needham Bank of Massachusetts is offering a 7 month IRA Special at 1.75%APY. This APY is accurate as of August 10, 2009 but may change after the account is opened. There is also a substantial penalty for partial or full withdrawal made before its maturity. Minimum deposit to open and to obtain the disclosed APY is $250.
In addition, the bank offers a 3 year and 5 year Kick-It-Up IRA CD. The APY for a 3 year Kick-It-Up IRA CD is 2.50% and the 5 year Kick-It-Up IRA CD is 2.75%APY. Kick-It-Up IRA CD account requires $250 minimum balance to open and earn the APY. It also guarantees that if a higher APY becomes available on the new 3 or 5 year CDs during the term of the IRA CDs, you may, at one time, elect to increase the rate to a higher APY with no penalty in writing.