Kearny Bank (NJ) Adds Competitive 18-Month CD

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Availability: Market area includes nine northern New Jersey counties and two New York counties.

As of this week, Kearny Bank (New Jersey) has added a new 18-month CD (1.50% APY) to its product line.

The minimum opening deposit for either CDs is $500, with no balance cap.

The 18-month CD is also available as an IRA (Traditional, Roth, and CESA), earning the same APY with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for the 18-month CD is 6 months interest.

Unlike the two CD Specials offered by Kearny Bank earlier this fall, the 18-month CD does not required a checking account relationship. And speaking of checking accounts, about five weeks ago, Kearny Bank raised the rate on its High Yield Checking account to 2.01% APY on qualifying balances up to $25K.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.01*%-$25kKearny BankHigh Yield Checking
Accounts mentioned in this post. Rates as of December 4, 2016.

As stated on Kearny Bank’s Checking Account Comparison page, the qualifying requirements are as follows:

  • Have at least 10 debit card purchases, OR
  • Have at least one direct deposit post and clear, AND
  • Sign up to receive eStatements.

The High Yield Checking has no minimum balance requirement or monthly services fees. In addition, nationwide ATM fees can be refunded up to $25 per month.

Availability

Kearny Bank has a "footprint" that covers the nine northern New Jersey counties of Bergen, Essex, Hudson, Middlesex, Morris, Monmouth, Ocean, Passaic, and Union. In June 2014, Kearny Bank expanded its market area into Brooklyn and Staten Island through the acquisition of Atlas Bank.

Opening the 18-month CD can be done at any of 40 New Jersey branches located in the counties of Bergen (9), Essex (3), Hudson (2), Middlesex (3), Monmouth (12), Morris (3), Ocean (6), Passaic (1), and Union (1), or at the two New York branches located in Brooklyn and Staten Island.

At this time, Kearny Bank’s online platform is limited to account management for current customers.

Bank Overview

Kearny Bank (FDIC Certificate # 28765) has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 2.77% (excellent), as of September 30, 2015. In the past year, Kearny Bank has increased its total deposits by $352.8 Million, an excellent annual growth rate of 14.34%. Please refer to our financial overview of Kearny Bank for more details.

Founded in 1884 as a New Jersey mutual building and loan association, Kearny Bank became a federally-chartered stock savings bank in 1941. In January 2015, the Bank’s name was changed from Kearny Federal Savings Bank to simply Kearny Bank. The Bank is wholly owned by Kearny Financial Corporation and currently holds assets in excess of $4.3 Billion.

How the CD Compares

When compared to the 196 similar length-of-term CDs tracked by DepositAccounts.com that require a similar deposit and are available to New Jersey residents, Kearny Bank’s 18-month CD currently ranks second.

The above rates are accurate as of 12/17/2015.

To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

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Kearny Bank (NJ) Boosts Rate On High Yield Checking

Availability:

Market area is nine northern New Jersey counties.

Last December, New Jersey-based Kearny Bank (formerly known as Kearny Federal Savings Bank) raised the rate on its High Yield Checking account to 1.51% APY on qualifying balances up to $25K.

The 1.51% APY has held for almost a year, and as of today, the rate has been raised to 2.01% APY on qualifying balances up to $25K; qualifying balances over $25K earn 0.25% APY. Non-qualifying accounts earn 0.05% APY.

As stated on Kearny Bank’s High Yield Checking Account page,...

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Kearny Bank (NJ) Adds Two New Short-Term CD Specials

UPDATE 9/14/2015: Checking relationship required, details below

Availability: Market area is nine northern New Jersey counties.

Kearny Bank (NJ) has added two new promotional specials to their product line: 7-month CD (1.01% APY) and 15-month CD (1.51% APY). Of the two, the 15-month CD has the more attractive rate.

The minimum opening deposit for either CDs is $500, with no balance cap. Both CDs are limited-time offerings, but no specific date is stated on Kearny Bank's website.

According to CSR, the Early Withdrawal Penalty for the 7-month...

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Kearny Federal Savings Bank Raises Rate on High Yield Checking - Local

Availability:

Market area is nine northern New Jersey counties.

Kearny Federal Savings Bank (NJ) has raised the rate on its High Yield Checking account to 1.51% APY for qualifying balances up to $25K; balances over $25K earn 0.25% APY. Non-qualifying accounts earn 0.05% APY.

As stated on Kearny Federal Savings Bank’s checking account page, the qualifying requirements for the High Yield Checking are as follows:

  • Have at least 10 debit card purchases.
  • Sign up to receive eStatements.
  • Have at least one direct deposit or automatic payment post and clear.
Continue Reading