Investors Bank Has Top Rate 13-month CD (Checking Relation Required)
For a limited time, Investors Bank is offering a 13-month CD (1.50% APY) when opened with a new YourStyle Checking account. The minimum opening deposit for the 13-month CD is $10K of new money, with a maximum balance cap of $2M.
New money is defined in the promotion page fine print as "money not on deposit at Investors after 11/1/2014."
According to CSR, the Early Withdrawal Penalty is 180 days interest.
YourStyle Checking
The $10 monthly maintenance fee can be avoided if one of the following requirements is met:
- Maintain a $1K average monthly balance, OR
- Receive a direct deposit of $500 or more each statement cycle, OR
- At least 10 POS debit card transactions per statement cycle.
For complete details, please refer to the YourStyle Checking account online brochure.
Many thanks to the DA reader who mentioned this deal.
Availability
Investors Bank is a community oriented bank serving the residents of the New York City metropolitan area and New Jersey.
Opening the 13-month CD and YourStyle Checking account must be done at any of 28 New York branches and 106 New Jersey branches. Investors Bank’s online platform is currently limited to account management and bill pay services.
For a complete listing of branch locations, please refer to DepositAccount.com’s Locations page for Investors Bank.
Bank Overview
Investors Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 4.63% (excellent) based on December 31, 2014 data. In the past year, Investors Bank has increased its total deposits by $2.48 Billion, an excellent annual growth rate of 22.94%. Please refer to our financial overview of Investors Bank for more details.
Investors Bank (FDIC Charter # 28892) was incorporated in 1926 as the Washington Rock Building and Loan Association. The twelve original bank directors were prominent Milburn, New Jersey, businessmen, including a lawyer, a pharmacist, a hardware store owner, and a deli operator.
In April 1942 the association changed its name to Investors Savings and Loan Association. Although the association was smaller than the rival Millburn Building & Loan Association, after enactment of new savings and loan laws in New Jersey, Investors was able to purchase the Millburn Association's assets in July 1942 to bring total assets to $2 million.
Beginning in 1977, a series of nine acquisitions helped Investors Bank grow into the third largest bank in New Jersey, with assets in excess of $18.7 Billion.
How the CD Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com, requiring similar minimum deposit requirements and available to New York and New Jersey residents, Investors Bank’s 13-month CD head the list.
The above rates are accurate as of 5/8/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.
