Ridgewood Savings Bank is offering a special 6.25% APY 10-year IRA certificate of deposit. The minimum deposit is $2,000. According to the retirement service rep, the promotion should be available until April 17, 2007. The early withdrawal penalty equals one year of interest. About opening this IRA CD by mail, the service rep said that it would depend on the individual branches.
There's also a grand opening CD special at two of its branches. The specials include a 5% APY 5-year CD, a 5.50% APY 7-year CD and a 6.00% APY 10-year CD. In addition, several gifts are available based on the term and the initial deposit. Gifts include an Apple 1GB iPod Shuffle, an Apple 2GB Silver Nano, a XBOX 360 and a Samsung 23 inch LCD TV. These specials are only available at the Morris Park and Bayside branches. New deposits are required. The special lasts until February 24th at Morris Park and March 3rd at Bayside.
Ridgewood Savings Bank has branches in the New York areas of Queens, Brooklyn, Bronx, Nassau County and Suffolk County. It has been FDIC insured since 1943. The bank has a 4 out of 5 safe-and-sound star rating at Bankrate.com.
Thanks to the reader who mentioned these CDs in the finding deals post.