Lakeland Bank (NJ) Has Competitive Rate 35-Month CD


Availability: Northern New Jersey

Lakeland Bank recently raised the rates on two new additions to their product line: 13-month CD Special (1.10% APY) and 35-month CD Special (1.60% APY). While the rate increase on the 35-month CD Special was only 10 basis points, the 13-month CD Special rate was raised by a sizeable 85 basis points.

Both call for opening deposits of new money, with a minimum deposit of $5K for the 13-month CD Special, but only $500 for the 35-month CD Special. There is no maximum balance cap for either CD Specials.

1.20%$500-Lakeland Bank35 Month CD Special
0.90%$500-Lakeland Bank13 Month CD Special
Accounts mentioned in this post. Rates as of October 22, 2016.

According to CSR, the Early Withdrawal Penalty is 3 month interest for either CD Special.


Headquartered in Newfoundland, Lakeland Bank’s market area is northern New Jersey. Accounts are available to all U.S. Citizens or Residents Aliens with a valid Social Security number.

While some of Lakeland Bank’s product line can be opened online (checking, savings, and money market accounts), CDs must be opened in person at any of 48 branches located in the New Jersey Counties of Bergen (8), Essex (2), Morris (11), Passaic (9), Somerset, Sussex (15), Union, and Warren.

Bank Overview

Lakeland Bank has an overall health rating of "A" at, with a Texas Ratio of 4.94% (excellent), as of March 31, 2015 data. In the past year, Lakeland Bank has increased its total deposits by $109.41 Million, an excellent annual growth rate of 3.99%. Please refer to our financial overview of Lakeland Bank for more details.

Lakeland Bank (FDIC Certificate #19953) was established in 1969 by three local businessmen who recognized the need for a local bank in the Newfoundland/Jefferson area. In the past 15 years, Lakeland Bank has acquired five New Jersey banks and today holds assets in excess of $3.2 Billion. According to John Fredericks, Chairman of the Board,

Lakeland Bank is credited for introducing Saturday banking and drive-in banking to Northern New Jersey. Within a few years, other area banks began offering these innovations pioneered by Lakeland.

How the CDs Compare

When compared to the 237 similar length-of-term CDs tracked by requiring a similar deposit and available to New Jersey residents, Lakeland Bank’s 35-Month CD Special currently ranks in the top three.

When compared to the 239 similar length-of-term CDs tracked by requiring a similar deposit and available to New Jersey residents, Lakeland Bank’s 13-Month CD Special’s APY currently ranks in the top 15.

The above rates are accurate as of 7/27/2015.

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