Rhinebeck Bank (NY) Unveils 14-Month CD Special (2.95% APY)


Availability: 14-month CD Special, 2.95% APY, $2k minimum deposit.

Availability: Market area includes Dutchess, Orange, and Ulster Counties, New York.

Rhinebeck Bank ended last week by adding a 14-month CD Special, which earns 2.95% APY. While some of Rhinebeck Bank long-term CDs have tiered APYs ($2k and $10k minimums), the 14-month CD Specials earns the same APY for all deposits of $2k and above.

The 14-month CD is also offered as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

While Rhinebeck Bank offers a Premium Rate on CDs with a Rhinebeck Bank Priority Select or Priority Elite Checking account relationship, the fine print on the CD Rates page states,

14-month CD promotion is not eligible for Premium Rate.

According to CSR, the Early Withdrawal Penalty for the 14-month CD Special is three months interest.


Headquartered in Rhinebeck in New York’s Hudson Valley, Rhinebeck Bank’s market area includes Dutchess, Orange, and Ulster Counties.

Opening any type of account at Rhinebeck Bank must be done at any of 11 New York branches, located in Fishkill, Goshen, Hopewell Junction, Hyde Park, Kingston, Poughkeepsie (3), Red Hook, Rhinebeck, and Wappingers Falls

Rhinebeck Bank’s online banking platform is currently limited to account management and bill payment services.

Bank Overview

Rhinebeck Bank has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 15.38% (above average), based on September 30, 2018 data. In the past year, the Bank has increased its total non-brokered deposits by $69.43 million, an excellent annual growth rate of 11.05%. Please refer to our financial overview of Rhinebeck Bank (FDIC Certificate # 16032) for more details.

Founded in 1860 as the Rhinebeck Savings Bank, Rhinebeck Bank is an independent bank in the Hudson Valley that hasn’t “lost their way through mergers or acquisitions.” With assets in excess of $819 million and nearly 30,000 customer accounts, Rhinebeck Bank is currently New York’s 61st largest bank. In a recent press release,

Rhinebeck Bancorp, Inc. (the “Company”), the holding company for Rhinebeck Bank, announced today that it had closed its stock offering in connection with the completion of the reorganization of Rhinebeck Bank and Rhinebeck Bancorp, MHC into the two-tier mutual holding company form of organization.

The Company sold 4,787,315 shares of common stock at a price of $10.00 per share in its subscription offering, including 436,425 shares sold to Rhinebeck Bank’s employee stock ownership plan. Upon closing, 11,133,290 shares of the Company’s common stock are outstanding, including 6,345,975 shares issued to Rhinebeck Bancorp, MHC.

How the CD Special Compares

When compared to 409 similar length-of-term CDs tracked by DepositAccounts.com that are available within the Bank’s market area, and require a similar minimum deposit, Rhinebeck Bank’s 14-month CD Special APY currently shares first place with State Bank of India’s (IL) 1-year Senior Citizen CD.

The above rates are accurate as of 1/28/2019.

To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

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

Rhinebeck Bank (NY) Adds 49-Month CD
Availability: 49-month CD, 2.43% APY ($10k+), 2.17% APY ($2k+)

Availability: Market area includes Dutchess, Orange, and Ulster Counties, New York.

Over the weekend, Rhinebeck Bank added a tiered-rate 49-month CD that earns 2.43% APY on balances of $10k+, and 2.17% APY on balances between $2k and $9,999.99. The 49-month CD is the most competitive CD in the Bank’s product line by far; the 48-month CD has tiered rates of 1.92% APY ($10k+) and 1.66% APY ($2k+).

The 49-month CD is also offered as an IRA (Traditional, Roth, CESA),...

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