Global Bank is currently offering an 18-month CD with (what the Bank calls) a “Super Rate” of 1.80% APY. The minimum deposit is $1k of new money, with no stated balance cap.
According to the fine print, the 18-month CD is available as an “individual, IRA or business CD.”
According to CSR, the Early Withdrawal Penalty for the 18-month CD is “90 days interest on the amount being withdrawn.”
Headquartered in New York City, Global Bank’s market area is metropolitan New York City.
Opening the 18-month CD must been done at the Bank’s single New York branch located on Catherine Street in Manhattan’s Chinatown district. Global Bank also has a Loan/Mortgage office in Flushing, Queens.
Global Bank’s online banking platform is currently limited to account management for business customers only.
Global Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 0.00% (excellent, and not a typo) based on March 31, 2017 data. Global Bank has an excellent capitalization level (12.49%), the result of holding $152.77 million with $19.08 million in equity. Please refer to our financial overview of Global Bank (FDIC Certificate # 58263) for more details.
A locally-owned and operated bank, Global Bank is celebrating its 10th anniversary, having been established in 2007 by a group of Chinese-American business people. About six months ago, Global Bank expanded into the loan and mortgage sphere with a new office in the fast-developing Flushing (Queens) area. At a ribbon cutting ceremony, Borough President Melinda Katz praised the Bank.
“As city officials, we love it when businesses see the value in expanding to other boroughs,” she said. “What Global Bank has done is really come here to respond to what the community needs. To have a bank that really can respond on an individual basis to the financial needs of this community is truly an amazing gift that you give us.”
How the CD Compares
When compared to the 287 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the Bank’s market area, Global Bank's 18-month CD APY currently ranks first.
The above rates are accurate as of 7/24/2017.