Dedicated to Deposits: Deals, Data, and Discussion

2.50% 12-Month CD & 2.25% 6-Month CD at Valley National Bank at a NY Branch - Local Only

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Valley National Bank
Update 9/05/09: The rates of these CD specials have fallen by 25 basis points at the Avenue U branch. They're now 2.25% APY 12-month and 2.00% APY 6-month. Maximum deposit is $50K, and a maximum of 2 per household. Checking is required as before. 2.50% APY 12-month CD special is still being offered as of 9/05/09 at the bank's new Brooklyn branch. Refer to this new post for more details.

Valley National Bank is offering a new-branch special at its Brooklyn office at 2902 Avenue U. The promotion includes a 2.50% APY 12-month CD and a 2.25% APY 6-month CD. Minimum deposit is $500, and a checking account is required with a minimum initial deposit of $500. There's also a savings account special with a 2.25% APY for a $5,000 minimum balance with the rate guaranteed for 3 months. These specials are not listed at the bank's website. A reader emailed me info on these, and I called today (8/11/09) for additional details. The CSR didn't know how much longer these would last. If you're interested in these, I recommend calling the branch at 718-934-9180 to ensure they are still offering these rates. A branch visit is required.

New branch specials are common at this bank. I reported on several of them last year for branches in New York and New Jersey.

Valley National Bank's ratings for safety and soundness are strong: 4 stars (sound) at Bankrate.com and 4 stars (excellent) at BauerFinancial. Both ratings are based on 3/31/09 financial data. Valley National Bank is a member FDIC (FDIC Certificate # 9396).

Thanks to the reader who emailed me info on this special.

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Related Pages: New York, Valley National Bank, CD rates

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