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 required to open an account. First Central Savings branches are located in the New York cities of Glen Cove, Sunnyside, Whitestone, Astoria, Ridgewood, Bayside, Flushing and Forest Hills.
One thing to note about this bank is that it's not in the best financial shape. The FDIC issued a consent order against the bank in February. Its overall health score at DepositAccounts.com is 2 stars (out of 5) with a Texas Ratio of 97.42% (poor) based on December 2010 data. Please refer to our financial overview of First Central Savings for more details. The bank has been a FDIC member since 1999 (FDIC Certificate # 34969).
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