ConnectOne Bank (NJ/NY) Adds 15-month CD Special, 1.71% APY


Deal Summary: 15-month Personal CD Special, 1.71% APY, $500 minimum deposit, online only.

Availability: Only online for residents of New Jersey and New York.

In late May, DA reader, Carpline, posted in the Forum about ConnectOne Bank’s 15-month Personal CD Special, which at the time earned 1.51% APY; last Friday the rate was increased to 1.71% APY. The minimum opening deposit is $500, with no stated balance cap.

1.71%$500-ConnectOne Bank15 Month Personal CD Special (Online Only)
Accounts mentioned in this post. Rates as of August 21, 2017.

The 15-month Personal CD Special is a relatively new product, having been added in early May. Last week’s increase of 20 bps is its first rate change.

As stated in the Truth In Savings document, the Early Withdrawal Penalty reads as follows:

For fixed rate CDs with terms of greater than 6 months and less than 24 months, we will impose a penalty if you withdraw any or all of the funds before the maturity date. The penalty imposed will equal 180 days of interest on your account.


Headquartered in Englewood Cliffs, New Jersey, ConnectOne Bank’s market area is primarily northern New Jersey, but about a year ago, the Bank expanded into New York, opening a branch in Midtown Manhattan.

The 15-month Personal CD Special can be opened by any New Jersey or New York resident only online.

ConnectOne Bank has 18 full-service New Jersey branches and one in New York City (Madison Avenue), in addition to its Private Client Center in Princeton, New Jersey.

Bank Overview

ConnectOne Bank has an overall health grade of "B+" at, with a Texas Ratio of 12.62% (above average) based on March 31, 2017 data. In the past year, ConnectOne Bank has increased its total non-brokered deposits by $421.98 million, an excellent annual growth rate of 18.52%. Please refer to our financial overview of ConnectOne Bank (FDIC Certificate # 57919) for more details.

In its twelfth year of operation, ConnectOne Bank was originally established in 2005 as the North Jersey Community Bank. The Bank’s name was changed in 2013, following the acquisition of Citizens Community Bank. Three years ago, ConnectOne Bank acquired Union Center National Bank and is currently the eighth largest bank headquartered in New Jersey, with assets in excess of $4.4 billion and more than 60,500 customer accounts.

How the Personal CD Special Compares

When compared to the 224 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available to New Jersey residents, ConnectOneBank’s 15-month Personal CD Special APY currently ranks first.

The above rates are accurate as of 7/17/2017.

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

Related Pages: New York CD rates, Philadelphia CD rates, 1-year CD rates

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...

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Special 2-Year CD at North Jersey Community Bank - Local Only

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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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