4.65% 7-Month CD at a New Jersey Bank - and $150 Checking Bonus (Valley National Bank).

Update 3/22/08: This special CD may have ended. Please check with the bank for the latest specials.

Valley National Bank is offering a 4.65% APY 7-month certificate of deposit. The minimum deposit is $500, and the maximum is $100K. A checking account is required. Without the checking account the yield is 4.15% APY. The money must be new to the bank. This special is only available at the bank's new branch in North Brunswick (1100 Livingston Avenue, phone 732-214-0642). It's not listed at the bank's website. It was recently advertised in this online ad. Also advertised is a 4.40% APY money market account promotion with a minimum deposit of $5K for individuals and $10K for businesses. The 4.40% yield is guaranteed for 3 months.

In addition to the special rates, the bank is advertising a $150 bonus for their Valley Perfect Checking Account. This requires direct deposit, debit card and online banking services. Required transactions must be completed within the first 60 days of account opening to qualify for the bonuses. Parts of the $150 are awarded after four separate requirements are met: $50 after 5 checking account transactions, $50 after first direct deposit, $25 after 5 debit card transactions, and $25 after 3 online merchant bill payments.

Seems like every months there's another new-branch special a Valley National. The last one I reported was earlier this month in a Queens branch.

Valley National Bank is FDIC insured (FDIC Certificate # 9396).

Tags: Valley National Bank, CD rates, New Jersey, checking account