Dedicated to Deposits: Deals, Data, and Discussion

4.25% 14-Month / 4.00% 9-Month CD at Stonebridge Bank in PA - Nationally Available

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Stonebridge Bank
Update 11/29/08: The CD rates have fallen. The 14-month and 9-month APY is now 3.95%. Refer to the bank's website for the latest rates.

Stonebridge Bank has a new 14-month CD special with an APY of 4.25%. The bank continues to offer a 4.00% APY 9-month CD. The minimum deposit is $500. These are also available in an IRA. These rates are listed in the bank's Certificate of Deposit Page as of 11/27/08.

There's an online application, and according to this FAQ page, people from any state can apply. Some of the important CD details listed in the FAQ pages and in the disclosure include:
  • Interest will be compounded every day. Interest will be credited to your account every month
  • Early withdrawal penalty is 90 days of interest for terms under 12 months, 180 days for terms from 12 to 36 months.
  • 10 calendar grace period at maturity
  • CD can be funded by check or wire transfer (can't be done by ACH)
  • Incoming wire transfers are free. Outbound domestic wire transfers cost $20
I also received a few additional details from the CSR when I called their toll free number (800-807-1666) before my last post in August:
  • The CD rate locks only when they receive the funds
  • They require written instructions if you want to close the CD at maturity
  • At maturity, they can mail you a check or they can wire transfer the funds ($20 fee)
Stonebridge Bank also has some decent money market and checking accounts, but their rates have gone down since I reported on these in my August post.

Stonebridge Bank's financial ratings for soundness have gone down a bit since my August post. Bankrate.com gives the bank 2 stars (below peer group). This is down from 3 stars in August. BauerFinancial continues to give the bank 4 stars (excellent). Both are based on 6/30/08 data.

Stonebridge Bank is based in Pennsylvania with branches in Blue Bell, Warminster, Exton and West Chester. The bank has been FDIC insured since 1999 (FDIC Certificate # 35077).

  Tags: Pennsylvania, CD rates, IRA rates, Stonebridge Bank

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