Dedicated to Deposits: Deals, Data, and Discussion

5.51% 12-Month CD at Statebank of India - New York ($95K+)

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Statebank of India is offering a 5.51% APY 12-month certificate of deposit for a minimum deposit of $95K. The yield for balances between $50K and $95K is 5.41% APY. Under $50K the yield is 5.30% APY. These CDs are offered through their New York branch and can be opened by mail. They also have a money market account that can be useful to receive interest payments or when the CD matures.

I first reported on this bank in November 2005. They have often had competitive CD rates and have advertised on Bankrate.com. The bank is FDIC insured (FDIC Certificate # 33682).

Thanks to the reader who mentioned this CD in the finding deals post.
  Tags: New York, CD rates

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