Dedicated to Deposits: Deals, Data, and Discussion

3.00% Checking and Some High CD Rates at Sun National Bank in NJ/DE


Sun National Bank
Sun National Bank has some attractive rates on its checking, savings and CD accounts. There's a 3.00% APY checking account called the Kapow Checking. This isn't a reward checking so it doesn't require debit card usage and direct deposit. However, unlike reward checking accounts, it does require a minimum $2,500 balance to avoid a $20/month maintenance fee. Some of the notable perks include:
  • ATM fees reimbursed when a $2,500 balance is maintained
  • First order of 120 checks are free
  • free standard safe deposit box

According to the reader who mentioned this account, the yield had been 3.25% for a while.

The bank also has a CD promotion with some competitive rates. It includes a 3.51% APY CD with terms from 6 to 47 months and a 4.25% APY CD with terms from 48 to 60 months. The minimum deposit is $500, and the maximum is $250,000. New money is required.

There's an online application, but it's not clear if these accounts are available nationwide. Branches are located in New Jersey and Delaware. The bank has been FDIC insured since 1985 (FDIC Certificate # 26240).

Thanks to the reader who mentioned this bank in the finding-the-best-deals post.

  Tags: Sun National Bank, CD rates, New Jersey, Delaware, checking account

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Comment #1 by Anonymous posted on
Mr BankDeals. Where were you about this local bank? Back in January or February 2008, they were offering $50 bonus each for 1) direct deposits (from social security or payroll), 2) using their free bill payment service, and 3) relinquishing your debit card and all unused checks from another bank. The caveat: you must present your statement and stuff at the branch to get bonus. Promo expired March 31, 2008. NOTE: From their website, "Sun's promotional CDs are avail only to Max, SunRay and Kapow Checking account customers!"