Hamlin Bank and Trust Company’s Tramendous 6 Month CD Rate

July 8, 2012 No Comments »
Hamlin Bank and Trust Company’s Tramendous 6 Month CD Rate

Original Hamlin Bank 1863 (above).

We just got word of a great 6 month CD rate coming from the Pennsylvania-based Hamlin Bank and Trust Company. We have not verified this rate yet with anyone from the bank, however we have received word from multiple sources that it’s available.

The current offer is supposedly a 6 month CD yielding 1.0% APY on deposits of at least $2,500. We know – in the grand scheme of things – a 1 percent yield on any sort of bank deposit is incredibly low, but considering today’s national average for 6 month deposits sits at roughly 0.40% APY, this offer is quite lucrative in comparison.

Hamlin Bank and Trust Company (visit HamlinBank.com) although established in 1863 has remained quite small with just 80 employees and 7 locations – all in Pennsylvania. As of 2012, they control roughly $350 million in deposits and service almost $170 million in loans.

Below are some CD rates we’ve tracked down from Hamlin Bank and Trust of PA. You may wish to contact them directly for today’s updated rates or you can compare them to hundreds of additional CD rates in Pennsylvania from our archives.

- 6 month CD yielding 1.0% APY requiring a minimum deposit of at least $2,500.

- 12 month CD yielding 1.25% APY requiring a minimum deposit of at least $1,000.

- 24 month CD yielding 1.25% APY requiring a minimum deposit of at least $1,000.

To put the above offers in perspective, the top interest rates found on 6 month deposits from our database was 0.75% APY, for 12 month deposits was 1.10% APY, and for 2 year deposits was 1.25% APY.

Our take:

The 6 month CD offer is by far their best savings product that we know of. Considering our current interest rate climate and the fact that rates will likely remain this low until at least 2014 (according to FED), a short term deposit or liquid savings account is probably the best FDIC-insured vehicle for present day.

If you have experience in banking with Hamlin Bank and Trust Company, please share by leaving a comment!

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