Dedicated to Deposits: Deals, Data, and Discussion

Competitive Long-Term CD Rates at City National Bank in NJ, NY & PA - Local Only

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City National Bank (NJ)

City National Bank continues to offer competitive long-term CD rates. The following rates are listed at the bank's rates page as of 3/18/2010:

  • 3.50% APY 5 years and over
  • 3.00% APY 4 years to under 5 years
  • 2.50% APY 3 years to under 4 years
  • 2.00% APY 2 years to under 3 years

All the above rates except the 2-year CD rate are the same as what I reported in my December review of this bank. The 2-year rate fell by 25 basis points.

Minimum deposit is $500. It appears these rates also apply to IRA CDs.

A branch visit appears to be required to open an account. Branches are located in the New Jersey cities of Newark, Hackensack and Paterson; in the New York cities of New York City, Hempstead and Roosevelt; and in Philadelphia, Pennsylvania.

The bank's rating for safety and soundness went down by one star level at Bankrate.com since my December post. The new rating is 2 stars (below peer group) based on 9/30/09 data. The bank continues to have 3 stars (adequate) at BauerFinancial (based on 12/31/09 data). The bank has been a FDIC member since 1973 (FDIC Certificate # 21111).

Other Competitive Certificate of Deposit Rates

  Tags: New York, Pennsylvania, City National Bank (NJ), CD rates, New Jersey

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