High Yield CDs at M&T Bank - 5.06% 9-Month
Apr 5, 2006 - 8:55 AM by Ken Tumin
M&T Bank, N.A. is offering very competitive rates on CDs for terms ranging from 3 month to 60 month. These include a 5.06% APY 9-month CD, 5.18% APY 12-month CD and a 5.28% APY 18-month CD. The full list is provided below:
All have a minimum deposit of $5K. The early withdrawal penalties are 182 days of interest on terms of one year and over, 91 days of interest on terms under one year. The bank has an online application but it has to be printed and mailed with your check. The bank doesn't provide online access. You must call for account information.
Full details of the CDs are available at the bank's FAQ page and specific features and terms brochure.
M&T Bank Certificate of Deposit Yields as of 4/05/06
Term APY
3 Month CD 4.65%
6 Month CD 4.99%
9 Month CD 5.06%
12 Month CD 5.18%
18 Month CD 5.28%
24 Month CD 5.27%
30 Month CD 5.27%
36 Month CD 5.26%
48 Month CD 5.26%
60 Month CD 5.31%
All have a minimum deposit of $5K. The early withdrawal penalties are 182 days of interest on terms of one year and over, 91 days of interest on terms under one year. The bank has an online application but it has to be printed and mailed with your check. The bank doesn't provide online access. You must call for account information.
Full details of the CDs are available at the bank's FAQ page and specific features and terms brochure.
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Anonymous - #1, Wednesday, April 5, 2006 - 10:26 PM
I went to the local M and T bank to take advantage of these CD rates. They informed me that these rates are not what the parent company publishes. They could not verify the 800 number nor the web site. Be careful.
Banking Guy (anonymous) - #2, Thursday, April 6, 2006 - 7:05 PM
Thanks for the info. I was trying to get more info from FDIC today, but for some reason, I wasn't able to access the fdic.gov website. I'll check into this and let you know what I find.
Banking Guy (anonymous) - #3, Friday, April 7, 2006 - 7:28 AM
I called their 1-800 number and was told that the mtbna.com is an internet-only subsidiary of M&T Bank. They only offer CDs over the web. It seems legit.
I did go to the FDIC bank find tool and look for M&T in Oakfield, New York. They are registered, however, the website still lists mandtbank.com. I would feel better if this was listed as mtbna.com. But I think mtbna.com is rather new and it just hasn't been updated yet. Nevertheless, it doesn't hurt to wait.
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