Dedicated to Deposits: Deals, Data, and Discussion

3.00% 36-Month CD, 3.50% 60-Month CD & Other Competitive CD Rates at Hudson City Savings Bank - Available Nationwide


Hudson City Savings Bank
Hudson City Savings Bank is offering some very competitive rates on its long-term internet CDs. Minimum deposit is $5,000. The following are the rates as listed on its internet accounts page as of 10/05/09:
  • 2.50% APY 24 month
  • 3.00% APY 36 month
  • 3.25% APY 48 month
  • 3.50% APY 60 month
To see all of the rates, you have to go into the online application, and click on the rates link in the product selection page.

I first reported on these internet accounts in February. I called the bank this morning to see if anything has changed. It appears to be the same. These internet accounts are available to people in any state. The application is provided by the Andera service which is common for online applications. Initial funding can be done by electronic ACH transfer.

Here are the CD features I was told by the CSR:
  • $100,000 ACH deposit limit, no limit for mailing in a check
  • Rate locks when the application is submitted
  • You can specify up to 2 beneficiaries in the application. Additional ones can be added afterwards
  • At maturity, ACH transfer and wire transfer are not options. CSR can transfer to an internal account or mail you a cashiers check
  • Rates typically updated on Fridays
  • The Internet Banking Department can be reached at 201-967-1900, Ext. 1887
Additional details are listed in the Truth in Savings document which is available in the online application. Some important details include:
  • Early withdrawal penalty is 6 months of interest for terms of more than one year
  • Grace period is 10 calendar days after the maturity date
In addition to CDs, they also offer an internet money market savings account with a 1.75% APY as of 10/05/09 on balances of at least $2,500. The rate for balances of $10 to $2,500 is 0.75% APY. A $2 monthly fee applies to balances below $100.

Hudson City Savings Bank is a large bank with over $57 billion in assets and with 121 offices in New Jersey, New York and Connecticut.

The bank's ratings for safety and soundness continue to be strong: 5 stars (superior) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at (based on 3/31/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 13074).

Thanks to the reader who mentioned these CD rates in the bank deals hub page

Other Competitive Certificate of Deposit Rates

  Tags: New York, CD rates, New Jersey, Hudson City Savings Bank, savings account, Connecticut

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Comment #1 by Anonymous posted on
In Connecticut you only need $500- to open a CD at a branch. I don't know about NY & NJ.

Comment #2 by Anonymous posted on
Beware the fine print on early withdrawals of the 24 and 36 month CDs (didn't check longer terms): (1) consent of bank required for early withdrawal; and (2) bank reserves right to charge a higher penalty than the stated minimum of 6 months interest. See Truth in Savings Agreement.

Comment #3 by Dan The Man (anonymous) posted on
Dan The Man
Its hard to believe they don't have an 800 number to call/with 57 billion in assets/you would think so