bank rates

NY, NJ Deal: 1.50% On 15-Month CDs

Short-term CDs can be a smart play with the Federal Reserve discussing a gradual increase in interest rates over the next several years.

That’s why we like the 15-month CD from Kearny Bank that’s paying 1.50% APY with a $500 minimum deposit.

Kearny’s CD beats not only the top 12-month national return of 1.30% from the banks on our CD Rates Leaderboard but almost matches the top-billed 24-month yield of 1.52% APY.

It’s also enough to earn it a prominent spot in our constantly updated roundup of the top-paying CDs from credit unions and community banks around the country.

Although neither New Jersey nor New York residency is required to open accounts at Kearny, buying its certificates of deposit must be done at one of its 43 branches across Brooklyn and Staten Island, and the New Jersey counties of Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Ocean, Passaic and Union.

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