bank rates

Review: Metropolitan National Bank CDs

Metropolitan National Bank logoCustomers of New York-based Metropolitan National Bank have their choice of above-average CD rates.

For that matter, so do savers everywhere, since Metropolitan National Bank sells certificates nationally online, as well as in person at its three branches in Manhattan and single branch in Brooklyn.

But its rates aren’t worthy of our CD Rates Leaderboard, so those without a relationship with the bank already may as well invest their time and money elsewhere.

Metropolitan National Bank’s best rate is for the 60-month term. At 1.25% APY, that rate easily tops the average annual yield of 0.78% that large banks and thrifts are offering this week.

The top nationally available 60-month CD rate is currently 1.80% APY.

While that seems like a significant boost, over 5 years, you’d earn just $24 more on a $1,000 deposit if you bought the best nationally available CD instead of Metropolitan National Bank’s, according to our CD calculator.

Plus, you could shrink the difference more since Metropolitan National Bank offers step-up certificates for the 24-, 36- and 60-month terms, which allow you to raise your rate once and earn the same rates as the traditional CDs.

How Metropolitan National Bank’s other offerings measure up:

3-month CD rate is 0.15% APY versus an average rate of 0.10% APY. (Leaderboard leader is 0.46% APY.)

6-month CD rate is 0.30% APY versus an average rate of 0.15% APY. (Leaderboard leader is 0.88% APY.)

12-month CD rate is 0.60% APY versus an average rate of 0.24% APY. (Leaderboard leader is 01.05% APY.)

24-month CD rate is 0.75% APY versus an average rate of 0.37% APY. (Leaderboard leader is 1.25% APY.)

36-month CD rate is 0.91% APY versus an average rate of 0.47% APY. (Leaderboard leader is 1.50% APY.)

We keep our eye on Metropolitan National Bank’s rate page, since it’s been known to offer decent CD promotions.

You can learn more about Metropolitan National Bank at or call 212-365-6700.

There are definitely better deals out there, and you’ll find them if you compare Metropolitan National Bank’s returns with the best CD rates from scores of other banks in our extensive database.

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