5.50% 13-Month CD at Amalgamated Bank

Amalgamated Bank is offering a special USAVE 5.50% APY 13-month certificate of deposit. The minimum is $500, and the maximum deposit is $99K. The rate is in effect through 3/31/07.

The CD can be opened online. Be sure to enter the promo code CD13 for the 5.50% APY. It appears they accept out-of-state funds. According to the FAQ page, you can fund the account by an ACH transfer from an account at another financial institution or by sending in a check. The early withdrawal penalty is 3 months of interest.

Branches are located in Manhattan, Queens and Bronx of New York; Lyndhurst, New Jersey;Washington, DC, and Pasadena, California. The bank has been FDIC insured since 1934.

Thanks to the FW member who posted news of this CD at the FW CD Thread.

Tags: New York, California, Amalgamated Bank, CD rates, New Jersey