Hyperion Bank, based out of Philadelphia, Pennsylvania currently has some pretty lucrative CD rates given the current market for savings accounts.
Their best products come in the form of short term CD rates. They have a 3 month CD special available as of May, 18, 2010 which offers a return of 1.15% APY with a minimum deposit of just $399.00 required. To put this offer in perspective, the national average for 3 month CD’s sits at around 0.30% APY.
About Hyperion Bank:
Hyperion Bank claims to be the first community bank to locate in the urban section of Philadelphia in more than 20 years and has an ambitious goal of revitalizing the region with small business loans real estate development loans. They are taking on this section of Philadelphia despite being both a new and relatively small bank. They were founded in just 2006 and as of 2012 are just the 175th largest banking institution within the state. They control roughly $94 million in assets and $83 million in consumer deposits.
Current CD Rates offered through Hyperion Bank:
- 30 day CD yielding 0.65% APY with a minimum deposit of $399 required.
- 3 month CD special yielding 1.15% APY with a minimum deposit of $399 required.
- 6 month CD yielding 0.85% APY with a minimum deposit of $399 required.
- 9 month CD yielding 1.00% APY with a minimum deposit of $399 required.
- 12 month CD yielding 1.15% APY with a minimum deposit of $399 required.
Recent News for Hyperion Bank:
- In February of this year Hyperion Bank was held up and robbed at gun point by an unknown man standing around 5’6″ and as of February of this year, the criminal who robbed this bank was still at large. Read Full Story.
BBB Rating for Hyperion Bank:
Hyperion Bank has a BBB (Better Business Bureau) rating of ‘F’ despite having just one registered complaint. We contacted the BBB and they cited the following reasons for the F rating:
1) The complaint – which was geared towards problems with the product or service – has not been resolved by the institution.
2) Hyperion Bank lacks both sufficient background information and information regarding how long they have been in business.
If you have experience in opening any of Hyperion Bank CD accounts (whether promotional or standard) please share by leaving a comment!