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Grand Opening Special with 2% Money Market and $200 Checking Bonus at Investors Savings Bank in NJ - Local Only

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Investors Savings Bank has two attractive new-account grand opening specials at two of its New Jersey branches. These are not listed at the bank's website. A reader emailed me news about these being advertised in today's Bergen Record Newspaper (4/22/2010). I called the bank today for additional details. The bank is having a grand opening on Saturday, May 1st, but according to the CSR, these specials are now available at their two Clifton branches (1610 Main Ave & 10 Botany Village Sq East). The phone numbers are 973-478-6352 or 973-253-8021. Below are the promotion details:

  • 2.00% APY on the Money Market account with the rate guaranteed until 8/31/2010. $500 minimum deposit. Checking account with direct deposit of at least $300 is required. Without a checking account, the promo rate is 1.75% APY
  • $200 bonus for opening a checking account with direct deposit of at least $300. Direct deposit must be at least $300. Bonus is paid in quarterly increments of $50

According to the CSR, a customer is allowed to do both promotions. This offer appears to be very similar to the one they had at 5 other branches last September. Thanks to the reader who emailed me the info on these specials.

$100 Checking Account Bonus at Other Branches

For those too far away from the above branches, the bank continues to list a $100 checking account bonus available at all of its branches. I first reported on this in April 2010. Here's the promotion page link. It's very similar to the $200 bonus with the same direct deposit requirement and the same quarterly payout (except only $25 per quarter).

Bank Overview

Branches are located throughout New Jersey. Some of the cities include Irvington, Piscataway, Long Branch, Denville, Jackson, Somerset, Springfield, Union and Washington.

The bank's ratings for safety and soundness are mixed: 4 stars (excellent) at BauerFinancial (based on 12/31/09 data) and 2 stars (below peer group) at Bankrate.com (based on 9/30/09 data). DepositAccounts.com gives the bank a health score of 3 out of 5 based on 12/31/09 data. The bank has been a FDIC member since 1942 (FDIC Certificate # 28892).

  Tags: New Jersey, money market accounts, checking account

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