bank rates

N.Y. Bank Joins Leaders In 5-Year CDs

The New York bank is paying 3.05% APY, second-best in our current rankings

Astoria Federal Savings has jumped into second place in our rankings of the best 60-month CD rates.

The New York bank is paying 3.05% APY with a minimum deposit of only $500.

That’s not quite as good as the top rate of 3.29% APY offered by Melrose Credit Union.

But if you can’t afford the $5,000 minimum that Melrose requires, or are hesitant about joining a credit union, Astoria’s certificate of deposit is worth considering.

Although these certificates of deposit are available nationwide, they cannot be purchased online.

You must visit one of Astoria’s 85 branches in Brooklyn, Queens, Nassau, Suffolk and Westchester counties, or call 1-800-Astoria (278-6752).

A customer service representative will take the info needed to fill out an application over the phone, and send you the form to sign. The rate you’re quoted when you call will be honored for 10 days, which should be enough time to mail the application and a check back to the bank.

Click here to compare Astoria Federal’s offer with the best CD rates from scores of other banks.

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Comments (6)
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6 Existing Comments
  1. CrankySaver said:
    on July 21st at 03:10 pm

    Everyone on Wall Street is bemoaning the $4.3 billion in revenue Bank of America expects to lose each year due to all of the new rules and regulations emanating from Washington. But all of the gloomy news stories about the bank’s latest earnings report fail to recognize a pretty simple fact: It’s a good thing for most of us — and Bank of America’s just deserts. Read the entire post on our Personal Finance blog.

  2. CrankySaver said:
    on July 21st at 03:14 pm

    You can bet that Bank of America chief executive Brian Moynihan wants his billions back. Since the government is making it more difficult to nail a relatively few customers with big penalty fees, the bank will try to charge a broader range of customers more for the privilege of having an account, or taking advantage of routine services. Read the entire post on our Personal Finance blog.

  3. RateRunner said:
    on July 21st at 05:29 pm

    Federal Reserve Chairman Ben Bernanke told Congress today that the outlook for the economy remains “unusually uncertain” but the Fed plans no specific steps “in the near term” to help the struggling recovery. He did reiterate his determination to keep interest rates at record lows for an “extended period.”

  4. RateRunner said:
    on July 21st at 05:31 pm

    As you might imagine, the Fed chief saying that the future of the American economy is “unusually uncertain” unnerved investors and sent the stock markets tumbling. The Dow was up about 20 points when Ben began speaking. It was down 109 points at the close.

  5. DealMaven said:
    on July 22nd at 09:29 am

    We’ve completed our morning checks, and the CD Rates Leaderboard for July 21 is still good.

  6. FinWeek said:
    on March 27th at 09:09 am

    One more bankruptcy in the US banking sector. When will finish this crisis? Really it is terrible in my eyes.
    I hope that soon the economy will be back in normal positions.