Top 7-Month Liquid CD Rate at Marathon National Bank in NYC - Local Only


Marathon National Bank has a good short-term CD deal. It's a 7-month liquid CD with a 1.35% APY. Minimum balance is $5,000, and the maximum balance is $100,000. It allows one deposit or withdrawal once per week. This rate is listed in the bank's deposit rates page as of 8/25/2011.

One downside is that is requires a checking account, but the bank's Personal Best Checking qualifies. It's a free checking account with no monthly service fee or minimum balance requirement. It does require an initial deposit of at least $100.

Note, I was told of the checking requirement and the liquid features by phone. I don't see these details on the website. The bank representative also mentioned that rates are typically updated each Tuesday. She didn't expect this liquid CD rate to change next Tuesday, but it's possible.

A branch visit is required to open an account. Marathon National Bank branches are located in the New York City metro area.

The bank has an overall health score at of 5 stars (out of 5) with a Texas Ratio of 7.29% (excellent) based on June 2011 data. Please refer to our financial overview of Marathon National Bank for more details. The bank has been a FDIC member since 1989 (FDIC Certificate # 32698).

How this CD Rate Compares

This Marathon National Bank 7-month CD would be a good deal even with its liquid features. For a bank the best 6-month CD rate that's available nationwide is 1.05% APY at AloStar Bank.

However, a better deal is the 11-month No-Penalty CD at Ally Bank. This No-Penalty CD rate is 1.10% APY. Since it's a no-penalty CD, the customer can make it into any term he or she wants from 7 days to 11 months.

The best 6-month CD rate at a credit union is 1.25% APY at Connexus Credit Union. This requires an active checking account.

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