Below are the top 3 CD rates available to residents in New York (including all of New York City). The highest yielding certificate of deposit rates come in the form of 24 month CD’s, 36 month CD’s, and 60 month CD’s. As you are probably already aware of, the highest rates generally come from the longer maturities (ie a 12 month CD is going to yield a lower rate than a 5 year CD). Therefor, the rates I listed are those that beat the national average by the highest margin for their given duration.
As I mentioned with New Hampshire’s CD rates and Connecticut’s CD rates, it seems that rates offered by local institutions in the northeast are less competitive than those offered by large national banks. However, some of the local banking institutions serving the residents of New York are offering some phenomenal rates. If you reside in the northeast and know of a competitive rate offered by your local bank or credit union please share by leaving a comment!
Top 3 CD Rates (New York)
(clicking on the institution name will bring you to their rates page)
SeaComm Federal Credit Union: 24 month CD yielding 3.03% APY with a minimum deposit of $1,000. You may want to take a look at the article titled, SeaComm’s CD rates, in which I discussed the possibility that the rates listed on their website may be inaccurate. They were last updated in January of 2008 and are pretty lucrative when compared to the national average. SeaComm Federal CU has 15 branches throughout New York. Their products may be available nationwide if you are willing to stop by a local branch to fill out an application.
Massena Savings and Loan: 36 month CD yielding 3.18% APY with a minimum deposit of $1,000. On March, 24th, 1924, an organization certificate of the Massena Savings & Loan Association was submitted to the New York State Banking Department. The application was signed by twenty-eight business men with a total subscription value of $47,400. On May 21, 1924 the State of New York Banking Department approved the Certificate of Organization of the Massena Savings & Loan Association. Messena Savings and Loan is a member of the FDIC, the Federal Home Loan Bank of New York, America’s Community Bankers, and The Community Bankers Association of New York.
Hudson River Community Credit Union: 60 month CD yielding 3.75% APY with a minimum deposit amount of $500. Hudson River Community Credit Union (HRCCU) was founded in 1954 by the employees of International Paper Company in Corinth, New York as IPCO Federal Credit Union. Today, Hudson River Community Credit Union is a state-chartered community credit union. That is, anyone who lives, works, worships, attends school or a business or legal entity, such as churches, associations, etc., located within Saratoga, Warren, Washington, Rensselaer counties or the Towns of Cohoes, Watervliet or Green Island are eligible to join.
Compare with today’s top CD rates nationwide below: