Best CD rates in New Jersey

June 25, 2009 No Comments »

Below are the top 5 banks offering the highest interest rates on certificates of deposit in New Jersey. Keep in mind that you will receive a much higher rate if you opt for a longer maturity. The 60 month CD has some of the highest yields currently because of it’s maturity length. You may also want to check out some national rates if your local ones are a tad below the average. Compare CD rates from our archive vs. the local banks in New Jersey (below).

Click on the institution links below to view their rates page.

  1. Hamilton Horizons Federal Credit Union: 4.00% APY for a 60 month term. HH is a member-owned organization that was formed in 1955. They do not give any geographical requirements as far as membership goes on their website. Contact: (800)449-3221
  2. NVE Bank: 3.85% APY for a 60 month term. NVE received a 5 star rating from BauerFinancial and claims (on their website) that they don’t need to be rescued (ie bailed out). Contact (201)816-2800
  3. Magyar Bank: 3.69% APY for a 60 month term. Magyar Bank notable fact: Formed in 1922 by Hungarian immigrants. Corporate headquarters in New Brunswick, New Jersey. Contact: (732)342-7600
  4. Bank of Princeton: 355% APY for a 60 month term. The Bank of Princeton is a new bank serving the New Jersey area. They were formed in 2005 and raised 30 million in start up captiol. They started with 12 employees and now have upwards of 40. Contact: (609)454-0116
  5. Roma Bank: 3.55% APY for 60 month term. Roma Bank was formed in 1920 and its founders were public-spirited citizens of Italian ancestry responding to the need to help their fellow Italian immigrants become deeply rooted in their communities through home ownership and sound thrift and savings habits. Contact: (609)223-8300

Check with these institutions for minimum balance requirements as well as possibly eligibilty requirements. The national average for CD rates sits at roughly 3.00% APY for maturities of 5 years.

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