5.85% 60-Month CD at a New York Bank (First Central Savings)

First Central Savings is offering a 5.85% APY 60-month certificate of deposit. The bank also has a 5.75% APY 24-month CD. The minimum deposit is $500 and the early withdrawal penalty is 6 months of interest.

Branches are located in the New York cities of Whitestone, Astoria, Ridgewood and Bayside. According to the bank representative, they require a branch visit to open an account.

First Central Savings is FDIC insured. The bank has a 4 out of 5 star safe-and-sound rating (sound) at Bankrate.com.

Thanks to the reader who mentioned this CD.