Dedicated to Deposits: Deals, Data, and Discussion

3.00% 17-Month CD at Royal Asian Bank in NJ, NY and PA


Update 5/08/09: This 17-month CD special has ended. The only special listed is a 2.60% APY 15-month CD.

Update 3/23/09: The rate has gone up! The rate of this special 17-month CD is now 3.25% APY.

Royal Asian Bank is offering a special 3.00% APY 17-month CD. Minimum deposit is $1,000. This rate is listed at the bank's rate table as of 3/19/09. The rate table also lists competitive rates for checking and money market accounts.

At the bottom of the rate table, it states that "Geographic restrictions apply to state-specific accounts." Update: A bank representative has commented that a CD is available to residents of any state; however, the CD must be opened in person at a Royal Asian Bank branch.

Branches are located in the New Jersey cities of Fort Lee and Palisades Park, in Flushings, New York, and in the Pennsylvania cities of Philadelphia and Upper Darby.

Royal Asian Bank has fair ratings for safety and soundness: 3 star rating (performing) at (based on 9/30/08 data) and 3 stars (adequate) at BauerFinancial (based on 12/31/08 data). The bank has been FDIC insured since 2006 (FDIC Certificate # 58196).

Other High Certificate of Deposit Rates

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: New York, Pennsylvania, CD rates, New Jersey

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Comment #1 by Marc (anonymous) posted on
To help clarify the "state-specific" note on our website which you put in the post...CD is open to residents of any state. CD must be opened in person at one of our Royal Asian Bank branches.

Thanks for highlighting this rate and the fact that we have some great rates on interest checking accounts, too!

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks. I've updated the post. I hope you all will be able to keep this 17-month CD rate for a while.

Comment #3 by Anonymous posted on
3.25% APY 17-month CD promotion appears to have expired. New promotion is 2.60% APY 15-month CD.