UPDATE 9/20/2014: The 91-day CD rate has fallen to 0.10% APY.
For those who are partial to short-term CDs, Evans Bank, National Association (NY) raised the rate on its 91-day CD to 1.50% APY over the weekend. This CD can be opened with a $500 minimum deposit and there is no maximum balance cap. According to CSR, the Early Withdrawal Penalty on this particular CD is all accrued interest.
Evans Bank, NA’s "Better Checking" account is currently earning 1.50% APY on qualifying balances up to $10K and has no monthly service fee. Qualifying balances above $10K earn 0.25% APY, while non-qualifying balances earn 0.10% APY.
According to Evans Bank, NA’s Checking Information Page, the following requirements must be met:
- Have at least 12 debit card purchase transactions post and clear each qualification cycle
- Have at least one direct deposit, one auto-debit OR one on-line bill pay post and clear each qualification cycle
- Receive electronic statements
|1.01*%||-||$10k||Evans Bank, National Association||Better Checking|
|OTHER TIERS: 0.10% → $10k+|
|0.10%||$500||-||Evans Bank, National Association||91 Day CD|
Evans Bank, NA is located in the Greater Buffalo, New York area and offers its products to all residents of New York State.
While Evans Bank, NA does offer online banking to manage accounts, opening a CD requires an in-person visit to any of 13 New York State branches located in Amherst, Angola, Boston, Buffalo (2), Depew, Derby, Forestville, Hamburg, Towanda, West Seneca, Williamsville (2).
Evans Bank, NA (FDIC Charter # 6947) has an overall health grade at DepositAccounts.com of A+, with a Texas ratio of 5.02% (excellent) based on June 30, 2014 data. Holding $821.68 Million in assets, with $94.26 Million in equity, Evans Bank, NA’s capitalization level is 11.47% (excellent). Please refer to our financial overview of Evans Bank, NA for more details.
How the Rates Compare
When compared to other similar length of term CDs, with a required $500 minimum deposit, tracked by DepositAccounts.com and available to New York State residents, Evans Bank NA's 91-day CD is, by far, the most competitive:
|Interest Rate||CD Length||Institution|
|1.50% APY||91-day CD||Evans Bank, NA|
|0.50% APY||32 - 150-day Elite CD||Genesee Regional Bank|
|0.35% APY||3-month Online CD||Barclays|
The above rates are accurate as of 9/8/2014.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.