Clifton Savings Bank is offering several competitive long-term CD and IRA CD rates. For very long maturities, there's a 7-year CD with a 3.25% APY and a 6-year CD with a 3.00% APY. There's also a special 50-month CD with a 2.76% APY. This requires a checking account. Without a checking account, the rate is 2.50% APY. Minimum deposit is $500. These rates are listed in the bank's interest rates page as of 6/14/2011.
It appears that a branch visit is required to open accounts. Clifton Savings Bank branches are located in Northern New Jersey in the cities of Clifton, Fair Lawn, Garfield, Lyndhurst, Wallington and Wayne.
The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 2.56% (excellent) based on March 2011 data. Please refer to our financial overview of Clifton Savings Bank for more details. The bank has been a FDIC member since 1940 (FDIC Certificate # 28633).
Comparing These CD Rates
Those in Northern New Jersey can get higher CD rates for terms of 2, 3 and 4 years at Cross River Bank. It's a small one-office bank in Teaneck. Another small institution, Montauk Credit Union in New York City, has a 3.00% APY 5-year CD and a 3.25% APY 7-year CD.
The best nationally available 5-year CD rate continues to be 3.00% APY at Connexus Credit Union (which requires an active checking account) and 2.93% APY at Melrose Credit Union (with no checking requirement).
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.