Dedicated to Deposits: Deals, Data, and Discussion

2.75% 9-Month CD, 3.25% 18-Month CD and Other High CD Rates at RomAsia Bank in New Jersey


RomAsia Bank
Update 3/27/09: The CD rates have fallen. Please check the bank's website for the latest rates.

RomAsia Bank continues to have competitive CD rates. Below is a list of these CD rates as shown in the bank's rate table as of 3/20/09:
  • 2.50% APY 6-month
  • 2.75% APY 9-month
  • 3.00% APY 12-month
  • 3.25% APY 18-month
  • 3.30% APY 24-month
  • 3.75% APY 30-, 36- & 48-month
Minimum deposit is $2,500. These rates are available for both regular and IRA certificates. When I posted on this bank in December, these CD rates had required a checking/savings relationship. Otherwise, the rates are 1% lower. I don't see any small print that states this now. If you're interested in these CDs, be sure to check with the bank on this issue.

The bank continues to offer a competitive money market account with a top yield of 3.00% APY for balances of at least $25K. A lower yield of 1.50% APY applies to balances from $5K to $25K. In December the top rate had been 3.75% APY.

A branch visit appears to be required to open an account. The bank's office is located in Monmouth Junction, New Jersey. It's a new bank that was just established with FDIC membership in June 2008 (FDIC Certificate # 58702).

Other High Certificate of Deposit Rates

There's another New Jersey bank that has even higher CD rates than RomAsia. It's First Bank which is located in Williamstown and Lawrenceville, New Jersey. First Bank continues to offer a 3.50% APY 12-month CD and a 3.00% APY 9-month CD as of 3/20/09 (see post).

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.

  Tags: CD rates, RomAsia Bank, New Jersey

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Comment #1 by Anonymous posted on
I visited the bank today to open an IRA CD. Their rates dropped 15 to 25 basis points on 3/23. The new rates are posted on their website.