* Annual Percentage Yields (APYs) begin and are effective on 8/31/2017. $500 minimum deposit to open account and earn stated APYs. 12 and 24 month terms only. Substantial penalty for early withdrawal. Accounts subject to terms of Certificate of Deposit (Fixed Rate) Product. The 12 month CD automatically renews at maturity to the 12 month term and rate then available. The 24 month CD automatically renews at maturity to the 24 month term and rate then available. Interest compounds and will be credited to the accounts monthly. Limited time offers may be withdrawn at any time. Offers are subject to change without notice. Melrose Bank accepts deposits and is opening new accounts from customers residing in New England (MA, CT, NH, ME, VT, RI).