Dedicated to Deposits: Deals, Data, and Discussion

2.50% Checking Account and 2.50% 14-Month CD at East River Bank in Philadelphia - Local Only


East River Bank
East River Bank continues to offer a very competitive rate on its Ultimate Checking Account. The rate is down since my March post, but it remains competitive with a 2.50% APY for balances of at least $100. This is listed in the bank's rate table as of 6/01/09. When I called last year about this account, I was told that it's not a reward checking account. There are no other requirements to receive this top rate, and there is no balance cap. Like any checking account, the rate can change at any time.

The bank also has some competitive CD specials. These include a 2.35% APY 10-month CD, a 2.50% APY 14-month CD and a 2.75% APY 20-month CD. Minimum deposit is $2,000. These are listed in the bank's rates table as of 6/01/09.

A reader reported in my March post that the bank now requires a branch visit to open an account. The bank has two offices located in Philadelphia, PA.

East River Bank continues to have decent ratings for financial soundness: 4 stars (excellent) at BauerFinancial and 3 stars (performing) at Both ratings are based on 12/31/08 financial data. East River is a new bank that was just established in 2006. It's FDIC insured (FDIC Certificate # 58171).

Thanks to the reader who emailed me an update on this bank.

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: East River Bank, Pennsylvania, CD rates, checking account

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