5.25% 12-Month CD at a New York Bank.

The State Bank of Long Island has increased the yield on its 12 to 23 month CDs from 5.05% to 5.25% APY since my last report in late February. The longer term rates have remained the same. The bank also has some decent short term CD rates: 4.50% APY for 3 months and 4.75% APY for 6 to 11 months. All of the certificates have a $2.5K minimum deposit requirement. The IRAs have the same rates with only a $500 minimum. Below is the full list of CD rates for terms of 3 months and up:

Term              APY
3 months          4.50%
6 to 11 months    4.75%
12 to 23 months   5.25%
24 to 59 months   5.25%
60 months         5.30%

State Bank of Long Island has 16 branches in Queens, Nassau and Suffolk, New York.