Dedicated to Deposits: Deals, Data, and Discussion

5.50% 24-Month / 5.50% 36-Month CD at a New York Bank (LibertyPointe)

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LibertyPointe Bank is offering 5.50% APY on a 2 and 3 year certificate of deposit. There's also a 5.35% APY 1 year CD. The minimum deposit is $1,000. Higher rates may be available on Jumbo CDs with deposits of over $100k. These rates also apply to IRA's. There's a 6-month interest penalty for early withdrawals of CDs with terms of over 12 months.

My last report on this bank was in March. At that time the 2 and 3 year CDs had yields of 5.70%. Another thing that has changed is their policy on accepting out-of-state deposits. The website now clearly states that only residents of New York, New Jersey are Connecticut are eligible for these CDs.

LibertyPointe Bank is a small, one-office branch located in New York city. The bank is FDIC insured (FDIC Certificate # 58071). It was establised in 2005.

The Best 2 and 3 year CDs

Bankrate.com currently lists the top yield for a 2 and 3 year CD as 5.31% APY and 5.26% APY. Both are offered by Bank of Internet USA. The top widely available CDs for 2 and 3 year terms that I list in my latest weekly summary is 5.47% APY at Mutual Bank.

  Tags: New York, CD rates, New Jersey, Connecticut

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