The Berkshire Bank has just started offering a special 18-month CD special with a 1.50% APY. Minimum deposit is $10,000. This special is listed at the bank's CD page as of 2/9/2011.
Compared to internet banks on 2/9/2011, the best 18-month CD rate is 1.56% APY at Franklin Synergy Bank.
My last post on this bank was in November when I reviewed the bank's high-yield reward checking account, called Power NOW Checking. The account is still paying 2.50% APY on balances up to $25K.
It appears that a branch visit is required to open an account. Branches are located in New York City, Brooklyn, Harriman, Goshen, Bloomingburg. They also have branches in Ridgefield and Teaneck, New Jersey.
The bank has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 1.72% (excellent) based on September 2010 data. Please refer to our financial overview of The Berkshire Bank for more details. The bank has been a FDIC member since 1989 (FDIC Certificate # 27503).
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