RomAsia Bank is offering a 2.50% APY 12-month CD. Minimum deposit is $2,500. The rates for the other terms are not quite as good, but they're competitive. These include a 1.90% APY 3-month CD, a 2% APY 6-month CD, a 2.65% APY 18-month CD and a 2.75% APY 24-month CD. Higher rates may be available for Jumbo CDs with a $100K minimum.
The bank also has a money market account with a 2.25% APY for balances of $25K and above. The rate is 1% APY for balances from $5K to $25K. This money market account has a history of top rates. Last year the top rate was 3.95% APY.
These rates are listed at the bank's rate sheet as of 7/10/09.
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 2008 (FDIC Certificate # 58702). Since the bank is so new, neither BauerFinancial nor Bankrate has safety and soundness ratings for it.
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