National Bank of NYC Ups Rate On 18-23 Month CD


Deal Summary: 18-23 month CD (1.75% APY), $2.5k minimum deposit.

Availability: Market area includes the Boroughs of New York City, Long Island, and Westchester.

Last week, National Bank of New York City (NBNYC) raised the rates on several CDs, with the 18-23 month CD (1.75% APY) being the most competitive. The minimum deposit is $2.5k, with no stated balance cap.

1.75%$2,500-National Bank of New York City18 - 23 Month CD
1.75%$2,500-National Bank of New York City18 - 23 Month IRA
Accounts mentioned in this post. Rates as of November 17, 2017.

The 18-23 month CD is also available as an IRA (Traditional), earning the same APY with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for CDs with terms of 12-23 months is 90 days.

As stated on NBNYC’s Rates page,

If the term of the Certificate is more than one year, the disclosed
Annual Percentage Yield assumes interest is credited annually.

While not “wow-worthy,” some of NBNYC’s other CDs, which experienced 20-25 bps increases last week, are worth mentioning.

1.90%$2,500-National Bank of New York City24 - 29 Month CD
1.50%$2,500-National Bank of New York City12 - 17 Month CD
1.25%$1k-National Bank of New York City180 - 364 Day CD
Accounts mentioned in this post. Rates as of November 17, 2017.

Thanks to DA reader, patking, for his April Forum post about NBNYC.


Headquartered in Flushing, Queens, National Bank of New York City’s market area is described as “the Boroughs of New York City, Long Island and Westchester.”

Opening an account with NBNYC must be done at the sole branch location on 38th Avenue in Flushing.

The Bank’s online platform, NBNYC Online, is currently limited to account management and bill payment services.

When visiting our Flushing office, please use our large,
convenient, and free parking lot adjacent to the bank.

Bank Overview

National Bank of New York City has an overall health grade of "A+" at, with a Texas Ratio of 0.00% (excellent, and not a typo) based on March 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $1.25 million, an excellent annual growth rate of 1.12%. Please refer to our financial overview of National Bank of New York City (FDIC Certificate # 18734) for more details.

The National Bank of New York City first opened its doors in 1963, operating as Flushing National Bank. NBNYC is probably the only bank I know of to have been the subject of a charming two-part “talk story” in “The Talk of the Town” section in The New Yorker. While having a rather imposing name, NBNYC is really a community-oriented institution – the kind of bank where you could have a conversation with the Bank’s president, if he happened to be in his office. According to The New Yorker article, Jack Farber (then president) stated,

We changed the name when we decided to open up a branch in Manhattan [in 1982, and now closed]. Our Flushing customers are very loyal, so they naturally stayed with us. If we called ourselves the Joe Blow National Bank we wouldn’t lose those customers.

Jack Farber also mentioned some things the bank did that broke new ground:

Certificates of deposit - we invented a rubber stamp that said we would automatically pay interest beyond maturity. The regulators tried to stop us from doing that

How the CD Compares

When compared to the 288 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available within the Bank’s market area, National Bank of New York City's 18-23 month Bump APY currently ranks third.

The above rates are accurate as of 7/21/2017.

To look for the best CD rates, both nationwide and in your state, please refer to our CD rates table, or our new Rates Map page.

Related Pages: New York CD rates, 1-year CD rates, 5-year CD rates