Evans Bank (NY) Hikes 2 ½ Year CD Rate


Deal Summary: 2 ½ year CD (3.00% APY) and 6-month (2.00% APY), $500 minimum deposit.

Availability: Market area includes five western New York State counties.

Evans Bank, N.A. (Evans Bank) recently raised the rate on its 2 ½ year CD (3.00% APY) by a considerable 240 bps. At the same time, Evans Bank added 180 bps to its 6-month CD, resulting in a 2.00% APY. The minimum opening deposit for either CD is $500, with no stated balance cap.

5.00%$500-Evans Bank, National Association6 Month CD
Rates as of April 19, 2024.

These new rates are part of the Bank’s “As Easy As 1% 2% 3%” promotion. The 1% refers to the Better Checking account, which earns 1.01% APY on qualifying balances up to $10k.

According to CSR, the Early Withdrawal Penalty for either CD is three months of interest.


Headquartered in Angola in western New York State, Evans Bank’s market area includes Allegany, Cattaraugus, Chautauqua, Erie, and Niagara Counties. U.S. citizens and resident aliens, who have a valid Social Security Number or Individual Tax Identification Number, are welcome to apply.

Opening a CD can be done online, or at any of 14 New York branches, located in Amherst, Angola, Boston, Buffalo (2), Depew, Derby, Forestville, Hamburg, Lockport, Tonawanda, West Seneca, or Williamsville (2).

Bank Overview

Evans Bank has an overall health rating of "B+" at DepositAccounts.com, with a Texas Ratio of 10.04% (excellent), based on March 31, 2018 data. In the past year, the Bank has increased its total non-brokered deposits by $156.85 million, an excellent annual growth rate of 16.01%. Please refer to our financial overview of Evans Bank (FDIC Certificate # 6947) for more details.

Established in 1920 as The Evans National Bank of Angola, Evan Bank is currently the 43rd largest bank headquartered in New York, with assets in excess of $1.3 billion and more than 44,400 customer accounts. The Bank’s name was shortened to Evans National Bank in 1995 and re-branded as Evans Bank, National Association in 2008. According to a 2016 BizJournal article,

A growth strategy launched 10 years ago made Evans a Western New York banking powerhouse. Ten years into CEO David Nasca’s tenure, Evans Bancorp is turning itself into a major player in Western New York, but not by acquiring other banks. Instead, the parent company of Evans Bank N.A. and The Evans Agency Insurance has relied on a steady diet of organic growth while simultaneously taking advantage of periodic market upheaval, including the recent sale of First Niagara to KeyCorp.

How the CD Compares

When compared to the 243 similar length-of-term CDs tracked by DepositAccounts.com requiring a similar minimum and available within the Bank’s market area, Evans Bank’s 2 ½ year CD APY currently shares the top spot with four CDs from Veridian Credit Union, CommunityWide Federal Credit Union, USALLIANCE Financial, and Quorum Federal Credit Union.

The above rates are accurate as of 7/5/2018.

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

Related Pages: Buffalo CD rates, Rochester CD rates, 1-year CD rates, 5-year CD rates

Evans Bank, NA Offers Top Rate 91-Day CD - New York State Only

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...

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