3.00% 24-Month CD & Other High CD Rates at Signature Bank in New York City - Local Only

Update 8/03/09: The CD rates have fallen, but they're still very competitive. A reader reported being told the following rates: 2.35% APY for 12 months, 2.5% for 18, and 2.75% for 24 months.

Signature Bank is still offering a 2.50% APY 12-month CD. In addition, the bank is offering other competitive rates including a 2.85% APY 18-month CD and a 3.00% APY 24-month CD. Minimum deposit is $5,000. These aren't specials, so you don't have to worry about other requirements like a checking account. The CD rates don't appear to be listed at the bank's website. A reader commented on these today, and I just called for additional details. These rates are available as of today (7/09/09), but the CSR didn't know how much longer they may last. The 2.50% 12-month CD has been available since June 10th.

A branch visit is required to open an account. Branches are located throughout New York City.

The bank has strong ratings for safety and soundness: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 3/31/09 financial data. The bank has been a FDIC member since 2001 (FDIC Certificate # 57053).

Thanks to the reader who mentioned this CD and bank in the Daily News & Deals post.

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Tags: New York, Signature Bank , CD rates