2.07% 18-Month CD at Signature Bank in New York City - Local Only

Signature Bank made substantial cuts to their CD rates, but some of the rates remain fairly competitive. One in particular is the 18-month CD which has a 2.07% APY. They don't list the rates on their website, so I called this morning. Below are the rates as of 12/18/09:

• 1.51% APY 6 months
• 1.76% APY 12 months
• 2.07% APY 18 months
• 1.98% APY 24 months
• 2.79% 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.

My last post was in November when the above rates were much higher. I had been calling each week, and the rates were holding through last week.

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 (based on 9/30/09 data) and 4 stars (sound) at Bankrate.com (based on 6/30/09 data) The bank has been a FDIC member since 2001 (FDIC Certificate # 57053).

Other Competitive Certificate of Deposit Rates

• CD rates at DepositAccounts.com (overview of DepositAccounts.com)
• My weekly list of hot nationwide and local CD deals

Tags: New York, Signature Bank , CD rates