Top 5-Year CD Rate at Monroe Savings Bank in NJ - Local Only


Update 1/2/2013: The 5-year CD rate has fallen and is no longer competitive.

When I first came across this CD rate at Monroe Savings Bank, SLA in New Jersey, I thought it might be a mistake (especially when you consider the look of their website). So I called this morning and confirmed that it is correct, but it's only for a limited time. It's a 2.53% APY 5-year CD. Minimum deposit is $500, and the early withdrawal penalty is equal to 6 months of interest. This rate is listed at the bank's savings rates page as of 12/28/2012.

When I was reviewing the bank's certificates page, I noticed it said "MSB accepts out of state deposits for certificates of deposit based on liquidity needs". However, when I called the number listed at that page, I was told they are currently not accepting out-of-state deposits and a branch visit is required to open a new account. I was told they would accept someone from Philadelphia if they can make it to a branch. If you are planning a long drive, make sure to call the bank to confirm the rate and the qualifications.

Monroe Savings Bank branches are located in Williamstown, New Jersey.

It's a small bank with only 18 employees and $90 million in assets. The bank has an overall health score at of 3 stars (out of 5) with a Texas ratio of 24.15% (average) based on September 2012 data. Please refer to our financial overview of Monroe Savings Bank for more details. The bank has been a FDIC member since 1964 (FDIC Certificate # 30103).

How This CD Rate Compares

The highest nationally available 5-year CD rate is 2.20% APY at Pen Air Credit Union. Minimum deposit is $100,000. The standard 5-year CD APY is 2.00%. For a bank that's nationally available, the highest rate is 2.00% APY at Citizens State Bank in Florida. This requires a $100K minimum deposit. Green Bank, N.A. is also accepting deposits nationwide via an online application. It has a 1.95% APY 5-year CD with only a $1,000 minimum deposit.

These rates are accurate as of 12/28/2012.

Searching for the Best CD Rates

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

Related Pages: Monroe Savings Bank, SLA, New York, CD rates

Previous Comments
  |     |   Comment #1
Their website is straight from the twilight zone...
  |     |   Comment #2
I wouldnt trust a dime of my money to a bank with such an elementry website. That is just pathetic!
  |     |   Comment #3
Did it ever dawn on you that maybe they can give such a great 5 year CD rate is because they are not wasting their money on a fancy building and website?  Some of the best rates I have gotten were from small banks like this in out of the way towns.  My only concern is the 3 star rating.  I like to stick with 4 -5 star institutions.  Other than that, if it were in my area, I would not have a problem with it.
  |     |   Comment #4
Bauer financial gives it a four star rating.
  |     |   Comment #5
The 5 year 2.53% APY CD special has ended earier than expected.  The new rate is at 1.26% APY according to their internet site.

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.