Manasquan Bank 5-Year CD Has New Rate-Leading APY

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Deal Summary: CDs –5-year (4.75% APY) and 3-year (5.00% APY), $500 minimum opening deposit.

Availability: Online market area includes CT, DC, DE, FL, GA, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, and VT.

It’s no secret that long-term CD rates have been lagging for quite a while, with short-term CDs having the most competitive APYs. The rates offered on the New Jersey-based Manasquan Bank 5-year CD (4.75% APY) and 3-year CD (5.00% APY) might be dismissed out of hand, but DA’s long-term CD Rates table reveals the 5-year CD has a near rate-leading APY. While not as competitive, the 3-year CD nonetheless has a rate that is higher than nearly all the 3-year CDs (in the market area) tracked by DA.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.00%$500-Manasquan Bank3 Year CD
3.00%$500-Manasquan Bank5 Year CD
3.00%$500-Manasquan Bank3 Year IRA (Traditional, Roth, CESA)
3.00%$500-Manasquan Bank5 Year IRA (Traditional, Roth, CESA)
Rates as of February 12, 2025.

Both CDs are available as IRA CDs (Traditional, Roth, CESA), earning the same APYs with the same deposit requirements.

Manasquan Bank CDs offered unremarkable rates for several years, but the 5-year and 3-year CDs rates shot up last week after increases of 325 and 350 bps, respectively. The five other CDs in the product line continue to not impress, having APYs between 1.50% and 3.00%.

Availability and Account Opening

Headquartered in the borough of Manasquan on the New Jersey shore, Manasquan Bank offers its product line to U.S. citizens and resident aliens (18 years or older) who live in 16 East Coast states (from Maine to Florida) and the District of Columbia.

A CD can be opened online, or at any of 15 New Jersey branches located in Bay Head, Brick, Colts Neck, Howell (2), Little Egg Harbor Township, Manasquan (2), Metuchen, Ocean, Point Pleasant, Shrewsbury, Spring Lake Heights, Stafford Township, and Wall Township.

Funding and Other Details

The following information is from a conversation with CSR.

  • Funding – ACH (online opening default); wire ($10 fee), check, or internal transfer (in-branch opening).
  • Ownership – Individual or joint.
  • Early Withdrawal Penalty – 6 months interest on the amount withdrawn, whether earned or not.
  • Interest – Compounded/credited monthly; withdrawable penalty-free by check.
  • Maturing Funds – Cashier’s check to the address on file.
  • Beneficiaries – Unlimited with equal shares, Social Security numbers are required for all beneficiaries.
  • Grace Period –7 calendar days before automatic renewal.
  • Credit Check – None for current customers, ChexSystems for new customers.

Bank Overview

Manasquan Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 0.76% (excellent) based on March 31, 2023 data. In the past year, Manasquan Bank has increased its total non-brokered deposits by $106.22 million, an excellent annual growth rate of 4.41%. Please refer to our financial overview of Manasquan Bank (FDIC Certificate # 30470) for more details.

Founded in 1874 as the Manasquan Savings and Loan Association, Manasquan Bank is currently New Jersey’s 14th largest bank, with nearly 64,000 customer accounts and assets in excess of $2.7 billion. The Bank’s name was changed to Manasquan Savings Bank in 1992, and became known by its present name in 2015. According to Wikipedia,

The borough's name (Manasquan) is of Lenape origin, variously described as
deriving from "Man-A-Squaw-Han" meaning "stream of the island of squaws",
"an island with enclosure for squans", "island door", or "point" / "top".

How the 5-Year CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available within the market and have minimum deposit requirements of $10k or less, only one credit union has a higher rate than currently offered on the Manasquan Bank 5-year CD. The following table compares the 5-year CD to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.

The above information and rates are accurate as of 9/19/2023.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: New York CD rates, 5-year CD rates, IRA CD rates



Manasquan Bank Continues To Offer Competitive Rewards Checking
Deal Summary: Infinity Cash, 2.00% APY on qualifying balances up to $25k. Infinity Saver, 0.55% APY on qualifying balances up to $500k.

Availability: Online market area includes CT, DC, DE, FL, GA, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, and VT.

Following the 2019 acquisition of Metuchen Savings Bank, New Jersey-based Manasquan Bank introduced "Infinity, an exclusive product suite." The Infinity product line replaced the Kasasa brand checking and savings accounts that Manasquan Bank had been offering since 2014. The Infinity...

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Manasquan Bank's Reward Checking Account Offered In 16 States And DC
Deal Summary: Infinity Cash, 2.00% APY on qualifying balances up to $25k. Infinity Saver, 1.50% APY on qualifying balances up to $500k.

Availability: Online market area includes CT, DC, DE, FL, GA, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, and VT.

Between 2014 and early 2019, New Jersey-based Manasquan Bank offered Kasasa brand checking and savings accounts. Following the acquisition of Metuchen Savings Bank, Manasquan Bank dropped the Kasasa products and added "Infinity, an exclusive product suite." Introduced in April 2019,...

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Manasquan Bank Now Offers Kasasa Cash In 16 East Coast States
Availability: Market area for Kasasa Cash and Kasasa Saver includes Connecticut, Florida, Georgia, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington DC.

When I wrote about Manasquan Bank’s newly introduced Kasasa Cash account in April 2014, it was only available in four states (Delaware, New Jersey, New York, and Pennsylvania). Today it’s available in 16 East Coast states and the District of Columbia.

The Kasasa Cash’s initial rate of 2.00% APY on qualifying balances up to...

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New Reward Checking Account at Manasquan Savings Bank in the Northeast

Manasquan Savings Bank has just launched a high-interest reward checking account under the Kasasa brand. It’s called Kasasa Cash, and it has a competitive rate and balance cap. The bank also launched three other Kasasa products. One is a savings account called Kasasa Saver and the other two are checking accounts called Kasasa Tunes and Kasasa Cash Back. Below is a summary of the rates and features of the Kasasa Cash and Kasasa Saver accounts as of 4/4/2014:

Kasasa Cash account rates and ATM fee refunds if monthly requirements are met:

  • 2.00%...
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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.