Competitive 30-Month CD Rate at NewAlliance Bank in MA & CT

POSTED ON BY

NewAlliance Bank is offering a competitive 30-month CD with a 2.00% APY. Minimum deposit is $1,000, and a checking account is required. There's also a special 11-month CD with a 1.25% APY. These rates are listed in the bank's special rates page as of 10/27/2010.

Also listed in the special rates page is a Premium Money Market Account special that pays 1.50% APY on balances of at least $50K. Note, the small print states that the rate is 1% APY for up to $50K and 1.50% APY for $50K. This requires a checking and there are potential monthly fees. Also, there's no guarantee about how long this rate may last. I first reported on this in April.

The bank has an online application (via andera.com), but it states that they only accept deposits from Connecticut or Massachusetts residents. In the application, they have a link to the account disclosure. The disclosure states that withdrawals are only allowed if they consent. The early withdrawal penalty for CDs with terms of over 1 year and less than 3 years is 6 months of interest.

Branches are located throughout Connecticut, and in South Central Massachusetts.

The bank's overall health score at DepositAccounts.com is 4 out of 5 with a Texas Ratio of 5.15% (excellent) based on 6/30/2010 data. Please refer to our financial overview of NewAlliance Bank for more details. The bank has been a FDIC member since 1960 (FDIC Certificate # 18261).

Searching for the Best CD Rates

Unfortunately, it's getting difficult to find CD rates for terms under 3 years with yields of at least 2.00%. The best nationwide deal continues to be at iGObanking.com which is offering 2.25% APY for a 2-year CD as of 10/27/2010.

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

Comments
$150 Checking Account Bonus at NewAlliance Bank in MA & CT - Local Only

NewAlliance Bank is offering a up to $150 for opening a personal checking account and completing certain online banking activities. The promotion is listed at the bank's promotion page as of 4/18/2010. Here are the details:

  • Earn $25 for completing 10 signature debit card transactions
  • Earn $25 for setting up and receiving $500 in direct deposits
  • Earn $25 for enrolling in Bill Pay
  • Do all three by July 31, 2010 and the bank wil double the payout to $150

Some important small print:

  • You must open a new personal Free Checking account by 06/30/10 with a...
Continue Reading
Best 5-Year CD Rate in Connecticut & Massachusetts at NewAlliance Bank - Local Only

NewAlliance Bank is offering a very competitive 5-year CD rate of 3.50% APY. Minimum deposit is $1,000, and a checking account is required. This CD is listed in the bank's CD rates page as of 4/18/2010. The other CDs are not quite as competitive. These include a 1.40% APY 15-month CD and a 2.00% APY 30-month CD. These are also available in an IRA.

The bank has an online application (via andera.com), but it states that they only accept deposits from Connecticut or Massachusetts residents. In the application, they have a...

Continue Reading
Up to $250 Checking Account Bonus at NewAlliance Bank in MA & CT - Local Only
NewAlliance Bank is offering a checking account bonus in which it's possible to earn up to $250 in bonuses. He's how the bank describes how to qualify for the bonuses:

Both the checking account and the savings account have no minimum balance requirements or monthly fee.

In the promo page you're instructed to visit one of the bank's branches to open the accounts. They do have an online application via andera.com, but the application states that you must reside in either Connecticut or Massachusetts. Most of the bank's branches are located...



Continue Reading