First American International Bank has some competitive mid-term CD rates. These include a 2.10% APY 18-month CD, a 2.50% APY 24-month CD and a 2.75% APY 36-month CD. Minimum deposit is $500. These rates are listed at the bank's rates page as of 12/22/09. The 2-year and 3-year rates are also listed for IRAs.
It appears higher rates are available for larger balances. There's a promo ad on the home page that lists special rates for the 3-year CD of 2.85% APY for $50K to under $250K and 2.95% APY for a minimum balance of $250,000.
The bank also has a competitive rate for its High Yield Passbook Savings Account. The rate is 1.50% APY for balances of at least $10K. This is listed at the top of the bank's rates page as of 12/22/09.
It appears that a branch visit is required to open an account. Branches are located in New York City, Brooklyn, Elmhust, Flushing and Forest Hills.
The bank's ratings for safety and soundness are above average: 3½ stars (good) 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 1999 (FDIC Certificate # ).
Thanks to the reader who mentioned these rates in the comments of the bank deals hub.
Other Competitive Certificate of Deposit Rates
- CD rates at DepositAccounts.com
- My weekly list of hot nationwide and local CD deals