bank rates

New Jersey Deal: 1% On 5-Month CDs

For savers shying away from long-term CDs until the Fed starts raising rates, Oritani Bank is offering some attractive short-term options.

Serving northeastern New Jersey, Oritani is paying the following competitive rates on three promotional certificates of deposit:

  • 1.00% APY on 5-month CDs.
  • 1.10% APY on 9-month CDs.
  • 1.25% APY on 16-month CDs.

Even better, each of these rates can be boosted 0.15% by also having a new or existing Oritani checking account.

The 5-month certificate is the standout here, easily beating the top nationally available 6-month yield of 0.85% APY on our CD Rates Leaderboard.

Meanwhile, the 9-month and 16-month certificates rank favorably against the best national 12-month rate of 1.21% APY.

For those willing to add the checking account bump to a 5-month certificate, you can outearn the best 6-month CDs by three-tenths of a point.

To qualify for the CD rate boost, the checking account requires only a recurring direct deposit or one bill payment per month.

Oritani also has a competitive rate for savers willing to commit to a slightly longer term: 1.50% APY on its regular 36-month CD, which matches the top nationally available rate in this term.

All of Oritani’s CDs require a modest $1,000 minimum deposit and must be purchased at one of their 25 branches throughout Bergen, Essex, Hudson and Passaic counties.

Click here to find lots of other local deals from community banks and credit unions.

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