Best CD Rates in Philadelphia, PA: Top 3

December 27, 2012 No Comments »
Best CD Rates in Philadelphia, PA: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to residents in the Philadelphia, Pennsylvania area. These come in the form of 6 month through 5 year CDs.

After sorting through hundreds of rate pages by local community banks and credit unions serving the city of Philadelphia as well as the state of Pennsylvania, we found that for the most part, you will be able to receive slightly better rates with local community banks and credit unions rather than online, nationally available ones.

CD rates, and savings rates in general, are down across the board and will likely stay that way until sometime in 2015. And until the FED raises key rates, CD rates will remain this low.

In the FED’s most recent statements regarding rates they have stated that they will remain unchanged until unemployment sinks to 6.5%.

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Top CD rates in Philadelphia, Pennsylvania (Local Only):

Institution
Product
APY
Min. Deposit
Contact
Hyperion Bank 6 Month CD 0.70 $500 (215) 789-4200
Washington Community Credit Union 7 Month CD 0.60% $0 (724) 228-2030
Trouvaille Federal Credit Union 12 Month CD 2.00% $500 (215) 951-0329
Valley Green Bank 12 Month CD 1.00% $500 (215) 242-3550
Eagle One Federal Credit Union 60 Month CD 2.02% $500 (215) 425-9290
Conestoga Bank 60 Month CD 1.85% $500 (215) 979-7990

All of the above institutions are federally insured by either the FDIC or NCUA. If you live in the city of Philadelphia, PA and know of a better interest rate offered through your local bank or credit union, please share by leaving a comment.

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