Dedicated to Deposits: Deals, Data, and Discussion

5.25% 60-Month / 4.50% 24-Month CD at a NJ/PA Bank (Unity)

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Unity Bank
Unity Bank has a CD promotion with some competitive rates. These include a 5.25% APY 60-month CD, a 4.75% APY 36-month CD and a 4.50% APY 24-month CD. The minimum deposit is $2,000. The promotion expires on 9/01/08.

For those who want FDIC insurance for deposits well above $100K, the bank also offers CDARS. The CDARS rates are also listed in the rate table. Note, these rates are much lower than the promotional CD rates. The highest CDARS yield is 4.80% APY for the 60-month term.

An online application is available at the bank's Savings & CDs Page. However, the application form only allows the user to select the state of New Jersey or Pennsylvania. Most branches are located in New Jersey. Two branches are located in Easton, PA.

Unity Bank appears to be one of the few financially healthy banks offering some competitive CD rates. Both BauerFinancial and Bankrate.com give the bank a 4 star rating (second highest) based on 3/31/08 data. Unity Bank has been FDIC insured since 1991 (FDIC Certificate # 33503).

  Tags: Pennsylvania, Unity Bank, CD rates, New Jersey

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