Competitive IRA CD Rates at Ridgewood Savings Bank in New York


1.60%$500-Ridgewood Savings Bank60 Month IRA (Traditional, Roth, CESA, SEP)
1.60%$500-Ridgewood Savings Bank72 Month IRA (Traditional, Roth, CESA, SEP)
1.60%$500-Ridgewood Savings Bank84 Month IRA (Traditional, Roth, CESA, SEP)
Accounts mentioned in this post. Rates as of August 27, 2016.

Sometimes banks will offer higher rates for IRA CDs than for regular CDs. That’s the case Ridgewood Savings Bank which has very competitive rates for its long-term IRA CDs. It’s offering a 7-year IRA CD with a 2.25% APY and a 6-year IRA CD with a 2.00% APY. The regular 5-year CD has a 1.75% APY. Minimum deposit is $500. These rates are listed in the bank’s deposit rates page as of 8/15/2013. Thanks to the reader who emailed me news of these IRAs.

There’s an online application, but at the top of the first page of the application it states “We welcome all residents of the communities we serve.” The “communities” text is a link that when clicked will popup the following list:

  • The Bronx
  • Kings County
  • Manhattan
  • Queens County
  • Nassau County
  • Staten Island
  • Suffolk County
  • Westchester County

Ridgewood Savings Bank branches are located throughout the counties and boroughs listed above.

The bank has an overall health score at of 4 stars (out of 5) with a Texas ratio of 8.98% (above average) based on March 2013 data. Please refer to our financial overview of Ridgewood Savings Bank for more details. The bank has been a FDIC member since 1943 (FDIC Certificate # 16026).

Other Top IRA CD and CD Rates

To search for nationwide rates and rates in your state, please refer to the CD rates tables and IRA CD rates tables.

6.25% 120-Month CD at a New York Bank (Ridgewood Savings)
Ridgewood Savings Bank is offering a special 6.25% APY 10-year IRA certificate of deposit. The minimum deposit is $2,000. According to the retirement service rep, the promotion should be available until April 17, 2007. The early withdrawal penalty equals one year of interest. About opening this IRA CD by mail, the service rep said that it would depend on the individual branches.

There's also a grand opening CD special at two of its branches. The specials include a 5% APY 5-year CD, a 5.50% APY 7-year CD and a 6.00% APY...

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