Dedicated to Deposits: Deals, Data, and Discussion

5.50% 6-Month / 5.50% 18-Month CD at a New York Bank (LibertyPointe).


LibertyPointe Bank has a new CD special at its new Brooklyn branch. They're offering a 5.50% APY CD with terms of 6, 12 or 18 months. The 5.50% yield requires that you open a checking account with direct deposit. Without the checking account, the yield is 5.25% APY. The minimum deposit is $1,000, and the maximum is $50,000. It's only available at their new Brooklyn branch. This promotion doesn't seem to be listed at the bank's website. A reader commented on this yesterday, and I called for further details. The CSR didn't know how long this would last.

It's not as good as their first new-branch special in which they offered a 6% 12-month CD. Nevertheless, in today's rate environment, it's still very competitive.

I had posted on this bank many times before. They've often had some very good CD rates. Currently, there standard rates are fairly competitive with yields up to 5.25% APY for a 60-month term. These are also available as an IRA certificate. I also noticed on their rates page, a special money market account with a respectable yield of 4.25% APY for balances over $10K. These standard rates are available to customers within the New York, New Jersey and Connecticut area.

LibertyPointe Bank is a small bank that was established in 2005. The bank is FDIC insured (FDIC Certificate # 58071).

Thanks to the reader who mentioned this new promotion in the comments.

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Comment #1 by Anonymous posted on
The Flatbush Branch 718-954-9300

5.25 APY unless opening a checking account with a direct deposit.