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East River Bank0.62%$10k-Go Anywhere Checking
Accounts mentioned in this post. Rates as of August 28, 2014

Top 20-Month CD Rate and Checking Account Rate at East River Bank in Philly - Local Only


East River Bank

East River Bank has just started offering an especially good CD deal. It's an anniversary special with a 2.05% APY for a 20-month term. Minimum deposit is $2,000, and new money is required. This is a limited time special. It's listed in the bank's rates page as of 1/25/2011. Thanks to the reader who posted this deal in the discussion forum.

The bank continues to offer a very competitive rate on its Go Green Checking. It's currently 1.40% APY for balances of $100 and above. It was 1.59% APY when I last reported on this in May 2010. According to the bank's comparison chart, this checking account has no monthly service fees.

According to reader who mentioned the CD deal, the bank accepts new deposits from those in the metropolitan Philadelphia area (which may also include southern New Jersey). The bank has two offices located in Philadelphia. Be sure to call to verify qualifications before planning a long drive.

The bank has an overall health score at of 3 out of 5 with a Texas Ratio of 22.11% (above average) based on September 2010 data. Please refer to our financial overview of East River Bank for more details. The bank has been a FDIC member since 2006 (FDIC Certificate # 58171).

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Comment #1 by Pennsy_Al posted on
East River Bank no longer offers the promtional, anniverary special 2.05% 20-month CD.  As of 2/7/2011, the 20 month CD rate is 1.65%.  It continues to offer 1.40% on its Green checking account ($100 min., online monthly states rather than mailed stateme) to those coming to its offices to open an account.

A header description of the bank on this site reports it having 38 employees and 3 offices.  Do not know about the number of employees, but it remains with two office, the main office in the East Falls section of Philadelphia, and a branch in the Roxborough section, both along Ridge Avenue.