Offers Competitive 2-Year CD


Deal Summary: 2-year CD Gifts, 1.85% APY, gifts for $25k+, $50k+, and $100k+ deposits.

Availability: Nationwide (internet bank) (GfB) is currently offering 1.85% APY on its 24-month CD Gifts, making it the top-rated nationally available 2-year CD offered by a bank. The minimum deposit is $25k, with no stated balance cap.

1.50*%$25k-GiftsforBanking.com2 Year CD Gifts
Rates as of July 23, 2019.

For those unfamiliar with GfB, you can actually receive a gift when opening a CD, and we’re not talking a toaster. GfB has at least 18 gifts to choose from for each of three deposit levels: $25k+, $50k+, and $100k+. A few of the gifts available for a $25k-$49k deposit include,

  • Broil King Monarch 320 Gas Grill, $399 on Amazon
  • TheraSqueeze Pro Foot, Calf, and Thigh Massager, $499 on Amazon
  • Dyson Cinetic Animal Canister Vacuum, $413 on Amazon
  • One downside to the gift program is that the Bank determines the gift’s value that will be used when issuing the 1099-INT. Chances are, the reported value is likely to be higher than what you would pay, if you purchased it on your own. A higher value reported on the 1099-INT could increase your tax liability. Before you decide to accept a gift, learn the value will be reporting, allowing you to make an informed decision.

    GfB’s website has an FAQs page that provides a lot of information, including the procedure for selecting and receiving a gift.

    As stated on the Terms and Conditions page, the Early Withdrawal Penalty (EWP) reads as follows:

    If your account has an original maturity between one year and less than three years: The fee we may impose will equal six months simple interest on the amount withdrawn subject to penalty. Plus the retail value of the gift received, applicable sales tax and shipping fees.

    The retail value of the gift added to six months simple interest could result in a hefty EWP. For example, a Tag Heuer Aquaracer Men’s Watch offered for a $100k+ deposit is listed on Amazon for $1,546. Sometimes a free gift carries a hidden cost. Caveat emptor.

    Thanks to both Ally6770 and ChasR for their timely Forum posts about

    Availability is a special value added program offered by, which is an online division of Flushing Bank.

    Opening a CD must be done through an online application on’s website.

    Bank Overview

    As one of the online divisions of Flushing Bank, operates under the Bank’s FDIC Certificate and shares its financial history. Bank has an overall health grade of "A" at, with a Texas Ratio of 2.91% (excellent) based on March 31, 2017 data. In the past year, the Bank has increased its total deposits by $142.1 million, an excellent annual growth rate of 4.5%. Please refer to our financial overview of Flushing Bank (FDIC Certificate # 58564) for more details.

    Flushing Bank was established in 1929 as the Flushing Savings Bank in the Borough of Queens, New York. After 80 years of growth in size and scope, the Bank was renamed in 2010. With assets in excess of $6.2 billion, it is New York State’s 19th largest bank and the 180th largest bank in the nation.

    How the CD Compares

    When compared to the 203 similar length-of-term CDs tracked by that are available nationwide,’s 2-year CD Gifts APY currently ranks second, regardless of minimum deposit.

    The above rates are accurate as of 8/22/2017.

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

    Related Pages: New York CD rates, 5-year CD rates, nationwide deals, Internet banks

    Ally6770   |     |   Comment #1
    I apologize to ChasR. I did not see his earlier posting.
    ChasR   |     |   Comment #2
    Thanks. Apology not necessary
    Andy   |     |   Comment #3
    You might want to call the bank and specifically ask them for the $$ amount they will report on 1099 form for the gift. In general, gift value is MSRP +shipping, handling, and any applicable state sales tax.
    Luvcd   |     |   Comment #4
    Ask for a proforma 1099
    EEE   |     |   Comment #5
    Can you open multiple CD's to get multiple gifts?
    Al B
    Al B   |     |   Comment #6
    I just talked to the bank (1/2 hour process) and they were unable to give me a 1099 estimate for one of their gifts.
    Nothing   |     |   Comment #7
    Tell them to talk to their tax department as to whether or not a 1099 will be forthcoming (and, if so, the amount and/or ask for a proforma)...confirm in writing
    HUBERT FAN   |     |   Comment #8
    in the 1970's and thru the early and maybe mid 80's,,,,HARRIS BANK of lasalle streeet chicago fame,,,gave made in america, small, medium, large and larger HUBERT THE HARRIS LION deluxe plush animal(still available on ebay), suitable for children or your young girl friend and a number of chicago sl's were gving european cut crystal pieces to new accounts customers,,,along with heyday rates of course. now you are robbed in broad daylight without a thank you, chump.
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