Just over a week after the Federal Reserve raised the federal funds rate for the sixth time since the financial crisis, East Boston Savings Bank is offering a special promotion on certificate of deposits and money market accounts.

The bank in their newsletter yesterday announced that they will offer a 2.2 percent annual percentage yield on a 14-month certificate of deposit with a balance of at least $1,000, and a 1.57 percent APY on money market accounts with at least a $10,000 balance, but less than $2 million.

The promotion could hint that interest rates for consumer deposits are finally starting to tick up.

As Banker & Tradesman reported earlier this month, the highest rates most people were seeing on a 12-month certificate of deposit in Massachusetts for municipal money, which is more price sensitive than consumer deposits, was 1.75 percent. Money market accounts for municipal deposits were offering anywhere from 65 to 125 basis points.

A few other companies, such as the online bank iGObanking and BankPurely, a division of Flushing Bank, are offering 2.2 percent on a one-year, $1,000 certificate of deposit in the Boston area, according to Bankrate.

However, it is still hard to say whether the most recent rate hike has had a dramatic affect on consumer deposits.

According to Raddon’s recent Annual Deposit Study, a “state of the industry” analysis on the depositing and investing habits, expectations and behaviors of the American consumer public, only 7 percent of Americans are actively tracking interest rates and will move their money to a new institution to get a better interest rate.

The promotion could just be a move to further fuel loan growth at the bank, which has grown tremendously in recent years. As of the end of 2017, EBSB had a loan-to-deposit ration of roughly 113 percent.