Bank of Utica (NY) Raises Rate On 5-Year CD To Competitive Level


Availability: Utica, New York area

Bank of Utica (up state New York) recently raised the rate on its 5-Year CD (2.50% APY). The minimum opening deposit is $500 and there is a $50K maximum deposit.

The 5-year CD is also available as an IRA (Traditional, Roth, and SEP) with the same funding requirements, but at a slightly higher APY of 2.60%.

3.25%$500-Bank of Utica5 Year CD
3.25%$500-Bank of Utica5 Year IRA (Traditional, Roth, SEP)
Rates as of September 19, 2018.

As stated on Bank of Utica’s Disclosure page, the Early Withdrawal Penalty reads as follows:

If the term remaining is over 4 years through 5 years, the Penalty to be paid is fifteen months interest.


With a single branch in Utica, New York, Bank of Utica (FDIC Certificate # 13397) is a community-oriented bank that only offers its services and product line to the local community. Bank of Utica’s website clearly states on its Utica’s Rates page, "Local Deposits Only."

Opening a CD, or checking, savings and money market accounts at Bank of Utica can be done four different ways: online, by phone, by mail, or in-person at Bank of Utica, located on Genesee Street in downtown Utica.

Credit Union Overview

Bank of Utica has an overall health grade of "A+" at, with an excellent Texas ratio of 2.86%, based on September 30, 2014 data. In the past year, Bank of Utica has increased its total deposits by $38.95 Million, an excellent annual growth rate of 5.19%. Please refer to our financial overview of Bank of Utica for more details.

Founded in 1927 by John J. Sinnott, Bank of Utica has continuously been under the direction of the Sinnott family, with the 3rd and 4th generations of Sinnotts currently serving as President and Board of Director Member, respectively. With total assets of $1 Billion, Bank of Utica is the largest bank (in terms of deposits) in the Greater Utica/Oneida County area.

How the CD Compares

When compared to other similar length-of-term CDs tracked by, that require a similar minimum deposit and are available to New York State residents, Bank of Utica’s 5-year CD is competitive.

The above rates are accurate as of 2/19/2015.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

Related Pages: Bank of Utica, Utica

Top Long-Term CD Rates in Central New York at Bank of Utica

It’s now easy to get a 5-year CD with a yield of at least 2.00% if you don’t mind banking online. A higher 5-year CD rate is possible if you live in the right area. It’s most likely that your local banks won’t have better CD deals, but there are a few areas of the country where you can get really good CD deals. One of those areas is the Utica-Rome New York metro area. Bank of Utica just increased its 5-year and 4-year CD rates to levels far above...

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4.30% 60-Month CD at a New York Bank (Bank of Utica)
Update 4/05/08: The CD rates have fallen. Please check the bank's website for the latest rates

Update 3/29/08: The CD rates have fallen. The 60-month CD yield declined from 4.50% to 4.30% APY. The title has been modified to reflect this change.
Update 3/1/08: The CD rates have fallen. The 60-month CD yield declined from 4.70% to 4.50% APY.

Bank of Utica is offering a 4.70% APY 60-month certificate of deposit. The minimum deposit is $500, and the maximum is $150,000 (no limit for IRA's). The CDs are available for local depositors only.


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