Indus American Bank has a special 30-month CD with a 3.00% APY. Minimum deposit is $2,000, and the maximum is $250,000. Early withdrawal penalty is 6 months of interest. The special is listed at the bank's CD page as of 11/24/09.
Applications are accepted by mail. Refer to the bank's new account page for the details about what needs to be mailed.
You can also open the account at one of the bank's branches which are located in Iselin, Parsippany, Jersey City, New Jersey and in Hicksville, New York.
Indus American Bank's ratings for safety and soundness are average: 3 stars (adequate) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 6/30/09 financial data. Note, BauerFinancial has the wrong name for this bank (Industrial rather than Indus).
The bank has been a FDIC member since 2005 (FDIC Certificate # 57983).
Thanks to the reader who emailed me info on this special.
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