Ponce de Leon Federal Bank is offering a competitive 5-year CD rate of 2.75% APY. Minimum deposit is $500. This rate is listed at the bank's rates page as of 11/15/2010.
As a comparison to internet banks, the best 5-year CD rate is 2.70% APY at iGObanking.com as of 11/15/2010. For credit unions with easy membership, the best 5-year CD rate is 3.03% APY at Melrose Credit Union. The best 5-year CD rate in NYC appears to be at LOMTO Federal Credit Union which is offering a 3.14% APY 5-year CD as of 11/15/2010. The downside to LOMTO is a limited field of membership.
To open an account at Ponce De Leon Federal Bank, a branch visit is required. Branches are located in Bronx, Manhattan, Brooklyn, Astoria and Jackson Heights, New York, and in Union City, New Jersey.
The bank has an overall health score at DepositAccounts.com of 3 out of 5 with a Texas Ratio of 47.03% (average) based on June 2010 data. Please refer to our financial overview of Ponce de Leon Federal Bank for more details. The bank has been a FDIC member since 1960 (FDIC Certificate # 31189).
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