Signature Bank continues to offer very competitive CD rates. I last reported on these in October. A reader just left a comment saying that the 24-month CD rate is still at 2.65% APY. I called and confirmed the following rates:
- 1.90% APY 6 months
- 2.20% APY 12 months
- 2.40% APY 18 months
- 2.65% APY 24 months
- 3.00% APY 36 months
Minimum deposit is $5,000. These aren't specials, so you don't have to worry about other requirements like a checking account.
A branch visit is required to open an account. Branches are located throughout New York City.
The bank's ratings for safety and soundness continue to be strong: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 6/30/09 financial data. The bank has been a FDIC member since 2001 (FDIC Certificate # 57053).
Thanks to the reader who notified me in the comments of these continued high rates.
Update 12/11/09: I called the bank at 1-866-SIGLINE and confirmed the above rates are still available. I also confirmed the 3-year rate. The CSR didn't know how much longer they would last so be sure to call to confirm.
Other High Certificate of Deposit Rates