Some branches of First National Bank of Long Island are offering a 5-year promotional CD with a 3.15% APY. This is a simple interest CD with a minimum deposit of $500. A checking account is required. On the plus side, they are offering free gifts when you open the CD. The gifts vary by the deposit size and include a digital camera and a portable DVD player.
Not all branches are offering this promo. The branches with these specials have a scrolling text link on their branch page. Here's the promo page for the Cold Spring Harbor branch and here's one for the Babylon branch. Note, the small print states that the promo ends on October 15th. However, I called both branches, and the promos are still active as of 10/28/2010. The Cold Spring Harbor branch rep stated that the promo is scheduled to last until 11/12/2010. She also said the early withdrawal penalty is 6 months of interest. A branch visit is required.
The bank's overall health score at DepositAccounts.com is 4 out of 5 with a Texas Ratio of 1.29% (excellent) based on 6/30/2010 data. Please refer to our financial overview of First National Bank of Long Island for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 7072).
Thanks to the reader who emailed me news of this promotion. If you know of a good bank deal, please consider either emailing me a message (ken at depositaccounts.com) or posting the deal in the discussion forum. Your help is much appreciated!
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.