5.25% 7-Month CD at a New York Bank (Valley National).
Feb 24, 2008 - 2:53 PM by Ken Tumin
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.
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Anonymous - #1, Saturday, February 2, 2008 - 4:35 PM
I availed NJ rate at that time. I may be wrong but it might need direct deposit also.
trinidon2k (anonymous) - #2, Sunday, February 24, 2008 - 8:04 AM
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.
Banking Guy (anonymous) - #3, Sunday, February 24, 2008 - 2:54 PM
Thanks for the info. I was afraid this wasn't going to last too long.
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