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5.25% 7-Month CD at a New York Bank (Valley National).


Valley National Bank
Update 2/24/08: This CD special has ended. Please check with the bank for the latest rates.

Valley National Bank is offering a 5.25% APY 7-month certificate of deposit. The minimum deposit is $500. A checking account is required. Without checking the yield is 4.75% APY. The money must be new to the bank.

This special is only available at the bank's new branch at 63rd Drive, Rego Park, in Queens, New York (718-332-2318). I called yesterday afternoon, and the banking rep said this special was still available. He didn't know how much longer it would last. A branch visit is required. The special doesn't seem to be listed at the bank's website. I saw it mentioned yesterday at FW.

This bank often has new branch CD specials. The last one I reported on was in September 2007 when they were offering a 5.75% 5-month CD at a New Jersey branch. The bank seems to be opening new branches every few months.

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

Credit for this find goes to FW member OBender who mentioned this CD special in the FW CD thread.

  Tags: New York, Valley National Bank, CD rates

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Comment #1 by Anonymous posted on
I availed NJ rate at that time. I may be wrong but it might need direct deposit also.

Comment #2 by trinidon2k (anonymous) posted on
My dad called yesterday. The number in the post actually got him to the Sheepshead Bay, Brooklyn branch. They said they opened a couple of weeks ago and told him the 5.25% APY CD is no longer available and it is now 4.64% APY.

Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. I was afraid this wasn't going to last too long.