Dedicated to Deposits: Deals, Data, and Discussion

Competitive 2-Year CD Rate at Atlas Savings in New York City - Local Only


Atlas Bank

Atlas Savings and Loan Association has recently raised its 2-year CD rate, and the rate is now quite competitive at 1.92% APY. There's also a good deal for the 3-year IRA CD with a 2.22% APY. Minimum deposit is $2,500. When I last contacted the bank, I was told the early withdrawal penalty is 6 months of interest. These rates are listed in the bank's deposit rates page as of 2/10/2011.

How It Compares

The best 2-year CD rate available nationwide is 1.75% APY at Salem Five Bank as of 2/10/2011. For those who can qualify for Self Reliance New York FCU, you can get 2.35% APY on a 2-year CD. For those in New Jersey, a reader mentioned in the forum a 2.00% 2-year CD special in Monmouth County.

Atlas Savings Overview

The bank has two branches in Brooklyn and Staten Island.

Atlas Savings continues to be financially healthy. It has an overall health score of 5 out of 5 with a Texas Ratio of 2.67% (excellent) based on September 2010 data. Please refer to our financial overview of Atlas Savings and Loan Association for more details. The bank has been a FDIC member since 1955 (FDIC Certificate # 30783).

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Comment #1 by Anonymous posted on
According to Atlas, the 'early withdrawal' penalty for CD's with terms of less than 12 months is 3 months interest.