2.01% 13-Month CD at Prudential Savings Bank in PA - Local Only

Prudential Savings Bank is offering a 2.01% APY 13-month CD special. Minimum deposit is $5,000. There's also a regular 5-year CD that's fairly competitive with a 3.26% APY. This is also available in an IRA. These rates are listed at the bank's rate table as of 3/05/2010. There's a 3/3/2010 date at the bottom of the rate table.

This bank has a history of offering some of the best CD rates in Philadelphia. My last post on this bank was on January 2009 when it was offering a 3.50% 9-month CD. It's hard to believe how much rates have gone down in the last year.

Note, at the bottom of the rate table it states that deposits are accepted at their discretion. So they may only accept local deposits. Branches are located in Philadelphia and Drexel Hill, Pennsylvania.

Prudential Savings Bank's ratings for safety and soundness are a little above average: 3 stars (performing) at Bankrate.com and 4 stars (excellent) at BauerFinancial. Both ratings are based on 9/30/08 financial data. The bank has been a FDIC member since 1938 (FDIC Certificate # 30011).