The latest CD to reach the heights of 3.00% is Greater Hudson Bank’s (GHB) 36-month CD. The minimum deposit is $10k, with no stated minimum balance.
DA has been tracking the 36-month CD for about seven years, and for six of those seven years, the APY was immovable at 1.20%. Yesterday’s addition of 180 bps is the first rate increase since March 2011.
CSR stated that the Early Withdrawal Penalty for the 36-month CD is one year of interest. CSR (to whom I’ve spoken before) once again made a point of mentioning that partial withdrawals are permitted, “because people think all their money would be tied up in a CD and not available if they have a financial emergency.”
14-month CD Special
GHB added a 14-month CD Special (2.10% APY) at the beginning of April. Like all of GHB’s CDs, the 14-month requires a $10k minimum deposit. With 13 other financial institutions (mainly internet banks) offering a higher APY on similar length-of-term CDs, the 2.10% APY isn’t a “wow-worthy” rate, but it merits being mentioned.
Headquartered in Bardonia, New York, Great Hudson Bank’s market area includes the lower- and mid-Hudson Valley counties of Orange, Rockland, and Westchester.
Opening a CD must be done at any of six New York branches located in Bardonia, Middletown, Monroe, Tarrytown, Warwick, and White Plains.
GHB’s online banking platform is currently limited to account management and bill payment services.
Greater Hudson Bank has an overall health rating of "B" at DepositAccounts.com, with a Texas Ratio of 13.44% (above average), based on December 31, 2017 data. GHB has an excellent capitalization level (12.73%), the result of holding $482.87 million in assets with $61.49 million in equity. Please refer to our financial overview of Greater Hudson Bank (FDIC Certificate # 57145) for more details.
Greater Hudson Bank was established in 2002 as the Community Bank of Orange by a group of business owners and professionals, who recognized the need for a “local bank for locals.” In 2008, the Community Bank of Orange acquired a new name, new management, and $23 million in new money to recapitalize. The rebranded Greater Hudson Bank is currently the 70th largest bank headquartered in New York, with assets in excess of $482 million.
How the CD Compares
When compared to the similar length-of-term CDs tracked by DepositAccounts.com, which require a minimum deposit of $10k or less and available within the Bank’s market area, Greater Hudson Bank’s 36-Month CD APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.00% APY||36-Month CD ($10k min)||Greater Hudson Bank|
|2.60% APY||3-Year CD ($2.5k min)||Live Oak Bank|
|2.56% APY||36-Month Online Promo CD ($5k min)||M.Y. Safra Bank|
The above rates are accurate as of 4/10/2018.
To search for the CD rates, both nationwide and in your state, please refer to our CD Rates Table page.