Top Savings, CD Rates In New Jersey

A suburban Trenton bank is offering top savings and CD rates to residents of south and central New Jersey.

On its statement savings account, First Bank pays a quarter of a percentage point more than the best nationally available deal. With a $100 minimum deposit, you’ll earn 1.25% APY.

You’ll also need to keep a minimum of $100 in your First Bank account each month or you’ll be charged a $7 fee.

The community bank, based in Williamstown, N.J., easily beats the 1.00% APY promotional rate offered by Salem Five Direct (www.salemfivedirect.com), the online division of Salem Five Bank in Salem, Mass. The Salem Five offer is good on new accounts only and is guaranteed through August.

To open an account, you must go to one of First Bank’s four branches, in Ewing, Hamilton, Lawrence or Williamstown, N.J.

First Bank (www.firstbank-nj.com) also boasts top CD rates in three terms.

With a $500 minimum deposit, First Bank pays:

• 1.45% APY on 24-month CDs.
• 1.70% APY on 36-month CDs.
• 2.20% APY on 60-month CDs.

All of those rates easily beat the top nationally available deals on our CD Rates Leaderboard. The best deal is on 60-month CD rates, which pay a quarter point better at First Bank.

You can see how these rates compare to the best savings and money market account rates and best CD rates from scores of banks in our database