RSI Bank (NJ) Offers 10-Month CD (2.10% APY) Statewide


Deal Summary: Go Digital! 10-month CD, 2.10% APY, $1k min/$100k max deposit. Go Digital! Savings, 2.00% APY, $100 min/$100k max opening deposit.

Availability: New Jersey residents through online application only.

New Jersey-based RSI Bank recently expanded its product line and now offers four new Go Digital! accounts to all New Jersey residents through online application. The two most competitive accounts are the Go Digital! 10-month CD (2.10% APY) and Go Digital! Savings (2.00% APY).

Go Digital! 10-month CD Details

  • $1k minimum/$100k maximum deposit
  • Limit of one 10-month CD per Social Security number
  • Early Withdrawal Penalty is 90 days interest on the amount being withdrawn
  • Partial withdrawals are allowed
  • Funding by ACH or wire transfer
  • Maturing funds distributed by cashier’s check, wire transfer, or transfer into another RSI Bank account
  • Seven day grace period before the 10-month CD automatically renews

Go Digital! Savings Details

  • No rate guarantee
  • $100 minimum/$100k maximum opening deposit
  • $10 minimum balance to earned stated APY
  • Limit of one Savings account per Social Security number
  • Deposits/withdrawals through ACH, wire transfer, or online banking
  • $5 Excessive Transfer Fee for each beyond the allowed six

As stated in the Go Digital! Savings disclosure,

RSI Bank may choose not to honor any transfer in excess of the limitations listed above which occurs during an interest cycle. RSI Bank reserves the right to close your Go Digital! Savings account, deny transfer capability or convert your account to a checking account if you regularly exceed the federally mandated limitations.

You may have noticed the unusually large difference between the posted interest rates and APYs. For example, the Go Digital! Savings interest rate is 1.95% and the APY is 2.00%. According to the disclosure,

Interest on your account is compounded daily on a 365/360 basis.

If compounding were done daily on a 365/365 basis, the APY would be 1.97%.


Headquartered in Rahway, New Jersey, RSI Bank has a brick-and-mortar presence in Middlesex and Union Counties.

The new Go Digital! product line is available to all New Jersey residents, 18 years or older, who have a valid Social Security number.

Opening a Go Digital! CD or Go Digital Savings account can only be done online.

Bank Overview

RSI Bank has an overall health grade of "A" at, with Texas Ratio of 6.76% (excellent), based on September 30, 2019 data. In the past year, RSI Bank has increased its total non-brokered deposits by $2.21 million, an above average annual growth rate of 0.51%. Please refer to our financial overview of RSI Bank (FDIC Certificate # 12017) for more details.

RSI Bank is New Jersey’s oldest mutual savings banks, having opened its doors for business in 1851, almost 200 hundred years after English settlers purchased land from the Lenni Lenape tribe that became Rahway. Originally known as The Rahway Savings Institution, the Bank did not re-brand until 2005. RSI Bank is currently New Jersey’s 37th largest bank, with assets in excess of $542 million and nearly 27,000 customer accounts.

How the Go Digital! CD Compares

When compared to 310 similar length-of-term CDs tracked by that require a similar minimum deposit and are available in New Jersey, RSI Bank’s Go Digital! 10-month CD APY currently ranks fourth.

Searching for the best CD rates, either nationwide or state specific? Please refer to our CD Rates Table page.

How the Go Digital! Savings Compares

When compared to 318 Savings Accounts tracked by that are available to New Jersey residents, RSI Bank’s Go Digital! Savings APY currently ranks fifth.

To look for the best Savings Accounts rates, both nationwide and state specific, please refer to our Savings Account Rates page.

The above rates are accurate as of 1/6/2020.

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

  |     |   Comment #1
for Savings compare, NJ residents also have Amboy Direct's Jersey First eSavings account as an option. It's currently at APY2.10% (for the first 50k, 1.91% for 50k-250k ) with a 1 year rate guarantee.

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