Dedicated to Deposits: Deals, Data, and Discussion

4.10% 6-Month CD at ISN Bank - Nationally Available


ISN Bank
ISN Bank has increased the rate on its 6-month CD from 3.82% to 4.10% APY. The minimum deposit is $1,000. It still has competitive rates for the other CD terms including a 3.77% APY for a 3-month term and a 3.87% APY for a 12-month term.

My last report of this bank was in June. At that time I called the bank and confirmed that accounts are available to people in any state. If you do apply, I would recommend calling first. They will take your name and give you 7 days to fund the CD at the current rate. They don't charge for incoming wire transfers. There's an application page which describes how you can mail or fax in the application and fund it with a wire transfer.

Outbound wire transfers that you might use when the CD matures is $15. Another thing to note about CD maturity is that the grace period is 7 days and they don't pay interest during the grace period if you close the CD (see disclosure).

It's a small bank located in New Jersey. One thing to note is that its financial ratings are very low: 0 star at BauerFinancial based on 3/31/08 data and 1 star at Bankrate based on 3/31/08 data. As I recommend with any bank, make sure to keep below the FDIC limits (FDIC Certificate # 57107).

  Tags: CD rates, New Jersey, ISN Bank

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Comment #1 by Anonymous posted on
Am in the process of opening a 6-month CD here. Very responsive CSRs for a small institution. Also, monthly payment of interest via ACH or check are options, even for the 6-month term.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Please keep us updated as you continue with the process.