Dedicated to Deposits: Deals, Data, and Discussion

3.67% 12-Month / 3.56% 6-Month CD at a New York City Bank (Savoy)


Savoy Bank still has some attractive short term CDs. The rates have fallen since my March post, but they're still competitive. The 12-month CD yield is 3.67% APY, and the yield for the 6 and 9 month terms is 3.56% APY. The minimum deposit is $2,000.

Savoy Bank doesn't seem to list rates on its website. A reader noted this 1-year rate in the comments, and I called to confirm. The CSR didn't know how long they would last. I noticed in the comments of my March post, that these CD rates took effect on March 18th. The commenter also mentioned that they have a money market account that pays 4.08% APY. I didn't ask the CSR if this rate was still in effect.

A branch visit is required to open accounts. The bank was just established this January. The office is located on 1675 Broadway at 52nd Street, New York, NY 10019 (646-775-4000). The bank is a member FDIC (Certificate # 58641).

Thanks to the readers who mentioned these CD rates in the comments. If you find some good bank deals, please leave a comment in the finding-the-best-deals post.

  Tags: New York, Savoy Bank, CD rates

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