ConnectOne Bank (NJ/NY) Features Promotional CDs


UPDATE 8/16/2016: No longer available.

Availability: Market area is Northern New Jersey and New York City.

ConnectOne Bank is currently featuring a series of Promotional CDs, which require a minimum opening deposit of $500, with no balance cap.

  • 10-month CD - 1.00% APY
  • 11-month CD - 1.10% APY
  • 13-month CD - 1.30% APY
  • 15-month CD - 1.50% APY

While these specials do not appear on ConnectOne Bank’s website, I was able to confirm with several of the branch locations that this is a bank-wide offering.

According to CSR, the Early Withdrawal Penalty is 6 months interest for terms greater than twelve months, and 3 months interest for terms less than twelve months.

Thank you to DA reader, cdqueen, for her Forum post about these Promotional CDs.


Headquartered in Englewood Cliffs, New Jersey, ConnectOne Bank’s market area is primarily northern New Jersey, but not long ago expanded into the New York City area.

Opening any of the Promotional CDs require a visit to any of 20 New Jersey branches, located in Berkeley Heights, Boonton, Cresskill, Englewood Cliffs, Fort Lee, Hacksensack, Holmdel, Madison, Morristown, Newark, Oakland, Ridgewood, Saddle River (2), Springfield, Summit, Union (3) and West New York.

ConnectOne Bank has recently opened a full-service branch in New York City (Madison Avenue) and also has a Private Client Center in Princeton, New Jersey.

ConnectOne Bank does have an “Open Personal Account” page, which initiates the opening of an account, but an in-person visit to a branch is required to complete the process.

Bank Overview

ConnectOne Bank (FDIC Certificate # 57919) has an overall health grade of "A+" at, with a Texas Ratio of 5.37% (excellent) based on March 31, 2016 data. In the past year, ConnectOne Bank has increased its total deposits by $399.85 million, an excellent annual growth rate of 16.01%. Please refer to our financial overview of ConnectOne Bank for more details.

In its eleventh year of operation, ConnectOne Bank was established in 2005 as the North Jersey Community Bank. The Bank’s name was changed in 2013, following the acquisition of Citizens Community Bank. Two years ago, ConnectOne Bank acquired Union Center National Bank and is currently the 7th largest bank in New Jersey, with assets in excess of $4 billion.

How the CDs Compare

When compared to the 98 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available to New Jersey residents, ConnectOneBank’s 10-month Promotional CD APY currently ranks second.

When compared to the 230 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available to New Jersey residents, ConnectOneBank’s 13-month CD Promo APY currently shares the top spot with Fort Knox Federal Credit Union’s 14-month CD Special.

When compared to the 180 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available to New Jersey residents, ConnectOneBank’s 15-month CD Promo APY currently ranks second.

The above rates are accurate as of 7/1/2016.

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

Anonymous   |     |   Comment #1
just went in to Summit,NJ office and opened a 15 month CD. Bank employees were very nice and anxious for my business unlike many other banks which offer lower rates. Thank you Ken for alerting me of this offer. Might as well go for CD vs money mkt at 1.00% since rates unlikely to rise  anytime soon.
Anonymous   |     |   Comment #2
I opened at 15 month CD at the office in NYC and it was seamless.  Note, I would recommend making an appointment since this is an office and not a traditional branch.  It is not equipped to serve several customers at one time.
Special 2-Year CD at North Jersey Community Bank - Local Only

North Jersey Community Bank is offering a 2-year CD special with two very competitive rates. The highest rate is 2.25% APY which requires an active checking account. Without the checking account, the rate is still very competitive at 2.00% APY. Minimum deposit is $500. The special is listed on the bank's front page as of 2/21/2011.

The small print has the details of the active checking requirement:

Thanks to the reader stormdog123 who mentioned this special in the discussion forum..

Even the lower rate compares favorably to the best CDs from internet banks....

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There is also an extra bonus of $100 in free gas when you open either account, but...

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