bank rates

Suburban Philly Bank Drops CD Rates Slightly, Still Offers Top National Deals

Act fast.

Quaint Oak is paying 3% on 60-month CDsAfter debuting on our CD Rates Leaderboard on Monday as the leader of two terms, Quaint Oak Bank is still offering top, nationally available CD rates for 36- and 60-month terms.

But the suburban Philadelphia bank has already lowered two of its rates slightly:

  • 36-month CDs are now 2.20% APY (down from 2.25%)
  • 48-month CDs are now 2.65% APY (down from 2.75%)

(60-month certificates of deposit remain at 3.00% APY. All CDs require a minimum deposit of $500.)

A quick call to Quaint Oak this morning also revealed the bank will hold its rates for just three days, and out-of-staters should download the paperwork on its website and send it in quickly. Don’t forget to call the bank first at 215-364-4059 to get them to hold the rate for you.

To us, this screams of a deal that isn’t going to last, and our advice is still to jump on these rates.

But then Quaint Oak has already surprised us once. We may just have another “little bank that could” situation on our hands, reminiscent of Sanibel Captiva Community Bank’s three-month run at the top of the 3-month rates.

If you’re in the Philly area, you can buy these CDs in person at Quaint Oak Bank’s single office in Southampton, which is located in the Lakeside Office Park at 607 Lakeside Drive.

See how these returns compare with the best CD rates from scores of banks in our extensive database.

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