Flushing Bank is offering a special 18-month CD with a 1.70% APY. Minimum deposit is $5,000 ($1,000 for IRAs). New money is required. They also have a 3-month rate special on its BestRate Checking. A 1.30% APY is guaranteed for 90 days from account opening for balances of at least $5,000. The $5,000 minimum balance is also required to avoid a $10 monthly fee. These specials are listed in this Flushing Bank promo page as of 2/13/2011.
As a comparison to internet banks on 2/13/2011, the best 18-month CD rate is 1.55% APY at Incredible Bank.
Flushing Bank continues to offer a $150 cash bonus for opening its Totally Free Checking. I reviewed this Flushing Bank checking account promotion in January.
It appears that a branch visit is required to open an account. Flushing branches are located in Queens, Brooklyn, Manhattan and Nassau in New York.
Flushing Bank has an internet division called iGObanking.com which also includes the site GiftsforBanking.com (see review). It's interesting to note that the 18-month CD rate at iGObanking.com is currently only 0.25%.
Flushing Bank's overall health score is 3 out of 5 with a Texas Ratio of 24.36% (above average) based on September 2010 data. Please see our financial overview of Flushing Bank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 16049).
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