Competitive 2-Year CD and Money Market Rates at Hyperion Bank in Philadelphia - Local Only

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APYMINMAXINSTITUTIONPRODUCTDETAILS
1.35%$500-Hyperion Bank24 Month CD
0.45*%--Hyperion BankConsumer Money Market
Accounts mentioned in this post. Rates as of August 31, 2016.

Many readers might remember Hyperion Bank for its reward checking account. It had offered one of the best ones in the Philadelphia area back in 2009. Unfortunately, the rate has fallen, and it's no longer available for new accounts. However, the bank has often come out with some good deposit deals. For large balances, the bank's consumer money market account is competitive. The top rate is 1.30% APY for balances of at least $100K. The rate is 1.10% APY for balances of $50K to up to $100K. The bank is also offering a competitive 2-year CD with a 1.80% APY. Minimum deposit is $399. These rates are listed on the bank's rates page as of 5/3/2011.

It appears that a branch visit is required. It's a small bank with one office in Philadelphia located at 199 West Girard Avenue.

The bank has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 32.53% (below average) based on December 2010 data. Please refer to our financial overview of Hyperion Bank for more detail. The bank has been a FDIC member since 2006 (FDIC Certificate # 58371).

How It Compares?

It's sad to say a 2-year CD rate that's under 2 percent is competitive, but that is the case in today's low-rate environment. For nationally available 2-year CDs, the best rate is 1.77% APY at Self-Help Credit Union (as of 5/3/2011). You can see some other top 2-year CD rates in my latest weekly bank deals recap. For the best local deals, please refer to our CD rate listing which includes the best nationwide and local CD rates.

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Another Bank Enforcing High Debit Card Usage on Its Reward Checking Account

Hyperion Bank in Philadelphia is another bank with a high-yield reward checking account that is cracking down on customers who are not spending enough on their debit cards. One reader who reported using his debit card for a few hundred dollars in purchases a month received just a warning. Here's an excerpt:

Another reader was not so lucky. Her account was converted into the non-interest bearing free checking account. She reported making between $10 and $20 per month in debit card purchases. Here's an excerpt of the email she received:

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2.40% 13-Month CD at Hyperion Bank in Philadelphia - Local Only
Hyperion Bank is offering a special 13-month CD with a 2.40% APY. Minimum deposit is $399. This special doesn't appear to be listed at the bank's website. A reader mentioned this being advertised in Sunday's Philadelphia Inquirer. I just called for more details. According to the CSR, it's valid through 7/31/09. They require you to come into a branch with two forms of ID.

Hyperion Bank also offers a competitive rewards checking account that is currently paying 5.01% APY on balances up to $30K (see post).

Hyperioin Bank is a small one-office...



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High-Yield Reward Checking Account at Hyperion Bank in Philadelphia

Update 11/03/10: The account is no longer available for new accounts. Refer to the bottom of the post for the account history.

Hyperion Bank is offering a reward checking account called HyperInterest Checking that pays 2.51% APY on balances up to $25,000 (1.15% for above) and refunds up to $600 a year in ATM fees if the following monthly requirements are met:

  • 10 signature-based debit card purchases
  • one direct deposit or ACH payment
  • receive electronic statements

If these are not met, the rate falls to 0.25%. There are no monthly service charges and no minimum...



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