Sawyer Savings Bank Adds 11-Month CD Special, EXPIRED


UPDATE 12/3/19: The 11-month CD Special and other CD Specials that were mentioned in this May 2019 post have expired.

Deal Summary: 11-month CD Special, 2.85% APY, $500 minimum deposit

Availability: New York State residents (in-branch visit required)

Sawyer Savings Bank (Sawyer Savings) is currently offering three CD Specials: 11-month (2.85% APY), 5-month (2.50% APY), and 19-month (2.30% APY). Of the three, the 11-month has the most competitive rate. These limited-time CD Specials require a $500 minimum opening deposit, with no stated balance cap.

According to CSR, the Early Withdrawal Penalty for the 11-month CD Special is 30 days of interest, with partial withdrawals allowed.


Headquartered in Saugerties in New York’s Hudson River Valley, Sawyer Savings Bank is a privately-held mutual savings bank, with its primary market area being Ulster County. According to CSR, any resident of New York State is eligible to open a CD, if they come into a branch.

Opening a CD requires an in-person visit to any of three full-service New York branches located in Highland, Marlboro, and Saugerties.

Bank Overview

Sawyer Savings Bank has an overall health rating of "A" at, with a Texas Ratio of 2.67% (excellent) based on December 31, 2018 data. In the past year, Sawyer Savings has increased its total non-brokered deposits by $3.94 million, an above average annual growth rate of 2.54%. Please refer to our overview of Sawyer Savings Bank (FDIC Certificate # 16039) for more details.

Founded in 1871 as the Saugerties Savings Bank, the name was changed to Sawyer Savings Bank in 1973 when the bank began expansion into nearby communities. Known for its support of many local organizations and non-profits, Sawyer Savings places an emphasis on small town values and community-based banking. According to the Bank’s Facebook page,

On April 11, 2019, The Highland High School Life Skills class took a tour of Sawyer Savings Bank. They saw how meetings take place via skype, they learned how to make deposits and withdrawals, they used a cash box, counted out money and learned who was on each bill. It was a fun experience for a great group of kids. We hope they enjoyed it as much as we did.

How the CD Compares

When compared to 382 similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the Bank’s market area, Sawyer Savings Bank’s 11-month CD Special APY currently ranks third.

The above rates are accurate as of 5/25/2019.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD Rates Table page.

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

  |     |   Comment #1
I take some of this if it was local or online, but not worth a 6-hour round trip drive.
Sawyer Savings Bank (NY) U-Choose CD Specials Offer Competitive Rates


New York State residents.

Sawyer Savings Bank has a series of "U-Choose" CD Specials at two different APYs: 1.00% APY (6-, 12- and 18-months) and 1.50% APY (24-, 30-, and 36-month CDs). The "U-Choose" option is the CD term length.

The minimum opening deposit for any of the six U-Choose CDs is $500, and there is a maximum balance cap of $100K. According to CSR, the Early Withdrawal Penalty is determined on a case-by-case basis.


Located in New York State’s Hudson River Valley,...

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