Best CD Rates in New York City, NY: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to the residents of New York City, NY. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving New York City as well as the state of New York, we found that for the most part, you will be able to receive slightly better rates with local institutions than with national ones.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

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.

Best 6 month CD rates in New York City, NY:

• .Signature Bank has a 6 month CD yielding 1.90% APY with a minimum deposit of $5000 required. They have locations throughout the city but primarily operate out of the Bronx.
• Actors Federal Credit Union out of New York City has a 6 month CD yielding 1.75% APY with a minimum deposit of $500 required.
• Quorum Federal Credit Union has a 6 month CD and a 9 month CD yielding 1.75% APY with a minimum deposit of $1000. They have locations on Manhattan Island and in the Bronx.

Best 12 month CD rates in New York City, NY:

• Signature Bank (Bronx branch) also has a 12 month CD yielding 2.20% APY with a minimum deposit of $5000.
• Liberty Point Bank (New York City) has a 12 month CD yielding 2.17% APY with a minimum deposit of $1,000 required.
• Park Avenue Bank of New York City has a 12 month CD yielding 2.12% APY with a minimum deposit of $1,000 required.

Best 24 month CD rates in New York City, NY:

• Island Federal Credit Union has a 24 month CD yielding 2.65% APY with a minimum deposit of $5000 required. They have several locations within the city and are headquartered out of Brooklyn, NY.
• Fort Lee Federal Savings Bank has a 24 month CD yielding 2.55% APY with a minimum deposit of $1000 required. They have locations (either physical branch or ATM) in New York City but primarily operate out of New Jersey.
• Hudson City Savings Bank has a 24 month CD yielding 2.50% APY with a minimum deposit of $500. They have locations in the city as well as Cliffside Park, NJ.