First Central Direct Has Nationally Available 36-Month CD


Deal Summary: 36-month E-Certificate of Deposit, 2.00% APY; 30-month E-Certificate of Deposit, 1.85% APY; $500 minimum deposit.

Availability: Nationwide (internet division)

Earlier this month, I wrote about First Central Direct, the new online division of First Central Savings Bank, and its competitive online money market account. First Central Direct has just raised the rates on its online 36-month E-Certificate of Deposit (2.00% APY) and 30-month E-Certificate of Deposit (1.85% APY). The minimum deposit is $500, with no stated balance cap.

0.50%$500-First Central Savings Bank30 Month E-Certificate of Deposit (Online Only)
0.50%$500-First Central Savings Bank36 Month E-Certificate of Deposit (Online Only)
Rates as of September 19, 2020.

According to CSR, the Early Withdrawal Penalty for any E-Certificate of Deposit with a term of greater than 12 months is 180 days interest. CSR also stated that Social Security numbers are not required when naming beneficiaries, but the Bank prefers to have that information whenever possible.

Note: First Central Savings Bank’s website has a lot of pertinent information, but the actual disclosures for the E-Certificates of Deposit are part of the online application, and can only be accessed after entering a great deal of personal information.


Headquartered in Glen Cove, New York (Long Island), First Central Savings Bank offers its E-Certificates of Deposit to all U.S. Citizens and Resident Aliens, 18-years or older, through its online division, First Central Direct.

While First Central Savings Bank has eight New York branches (Long Island and Queens), opening an E-Certificate of Deposit must be done online.

Bank Overview

First Central Savings Bank has an overall health grade of "A" at, with a Texas ratio of 8.88% (excellent) based on December 31, 2016 data. In the past year, First Central has increased its total non-brokered deposits by $20.97 million, an excellent annual growth rate of 4.64%. Please refer to our financial overview of First Central Savings Bank (FDIC Certificate # 34969) for more details.

In early April, First Central Savings Bank will be celebrating its 18th anniversary. Founded in 1999, First Central has grown to be New York State’s 70th largest bank, with asset in excess of $533 million. Chairman of the Board, Joseph Pistilli stated,

Our Bank’s goal was and still is to fill a void in the big bank mentality, by providing good
old-fashioned personal service with a smile, a throw-back to the days of hospitality and good manners that we were all raised on, something which almost does not exist anymore in banking.

How the E-Certificates of Deposit Compare

When compared to the 191 similar length-of-term CDs tracked by, requiring a similar minimum deposit and available nationwide, First Central Savings Bank’s 36- and 30-month E-Certificates of Deposit APYs currently rank first and second, respectively.

The above rates are accurate as of 3/24/2017.

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

  |     |   Comment #1
Sounds good.
Is it a hard credit pull ?
  |     |   Comment #2
Unfortunately, from what I can determine it's not available for IRAs.
First Central Savings Bank Offers Competitive Money Market Rate

Deal Summary: E-Premier Money Market, 1.10% APY, $10k minimum deposit.

Availability: Nationwide

First Central Savings Bank (First Central) is promoting its online E-Premier Money Market account. While First Central’s rate page lists three deposit tiers ($10k, $25k, and $50k), all three earn the same 1.10% APY.

The minimum opening deposit is $10k, and a monthly fee of $10 is assessed when the daily balance falls below $10k. On the plus side, the account has check writing privileges and surcharge-free ATM access at Allpoint ATMs.


Headquartered in Glen Cove, New...

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Competitive CD Rates at First Central Savings Bank in New York - Local Only

First Central Savings Bank is offering several competitive CD rates. The best are its long-term CD rates which include a 3.25% APY for 80 months, 3.10% APY for 6 years and 2.80% APY for 5 years. The short-term CD rates are also competitive, but like all current short-term CD rates, they're lower than what you may expect: 1.15% APY for 9 months and 1.28% APY for 14 months. Minimum deposit is $500. These rates are listed in the bank's deposit rates page as of 4/1/2011.

It appears a branch visit is...

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3.00% 24-Month CD at First Central Savings in New York
First Central Savings is offering some competitive rates on its mid-term CDs. These include a 2.50% APY 12-month CD, a 2.75% APY 18-month CD and a 3.00% APY 24-month CD. The 6-month CD rate is a little less competitive, but it's still not too bad at 2.00% APY. Minimum deposit is $500. These rates are listed in the bank's rate table as of 4/20/09.

It appears a branch visit is required to open an account. Branches are located in the New York cities of Glen Cove, Sunnyside, Whitestone, Astoria, Ridgewood, Bayside,...

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5.85% 60-Month CD at a New York Bank (First Central Savings)
First Central Savings is offering a 5.85% APY 60-month certificate of deposit. The bank also has a 5.75% APY 24-month CD. The minimum deposit is $500 and the early withdrawal penalty is 6 months of interest.

Branches are located in the New York cities of Whitestone, Astoria, Ridgewood and Bayside. According to the bank representative, they require a branch visit to open an account.

First Central Savings is FDIC insured. The bank has a 4 out of 5 star safe-and-sound rating (sound) at

Thanks to the reader who mentioned this CD.

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