Sharon Bank is currently offering a series of four Promotional CDs, including a 39-month (3.50% APY) that has the most competitive rate. Any of the Promotional CDs can be opened with a minimum $5k deposit.
|3.50%||$5k||-||Sharon Bank||39 Month Promotional Certificate|
|3.30%||$5k||-||Sharon Bank||72 Month Promotional Certificate|
|3.15%||$5k||-||Sharon Bank||52 Month Promotional Certificate|
|2.50%||$5k||-||Sharon Bank||13 Month Promotional Certificate|
CSR stated that the Early Withdrawal Penalty for the 39-month Promotional CD is 730 days (2 years) interest on the amount being withdrawn, with partial withdrawals allowed.
High Yield Money Market Promotion
Sharon Bank is also offering an introductory 2.15% APY on its High Yield Money Market. This rate is guaranteed for six months following account opening and requires a minimum $25k balance. Should the balance fall below $25k at any time in the first six months, the rate will revert to the prevailing rate (currently 1.65% APY).
Headquartered in Darby, Pennsylvania, Sharon Bank is a community bank with a market area that includes Delaware County and the Philadelphia metropolitan area.
Opening any type of account with Sharon Bank must be done in-person at the any of the four Pennsylvania branches, located in Aston, Darby, Philadelphia, and Springfield.
Sharon Bank’s online banking platform is currently limited to account management and bill payment services.
Sharon Bank has an overall health grade of "A" at DepositAccounts.com, with an excellent Texas Ratio of 0.84%, based on September 30, 2018 data. Sharon Bank has an excellent capitalization level (11.35%), the result of holding $155.73 million with $17.68 million in equity. Please refer to our financial overview of Sharon Bank (FDIC Certificate # 28793) for more details.
Founded in 1873 as the Sharon Savings and Loan Association, the Bank has provided 145 years of service as a community bank. The Sharon Bank re-brand occurred only nine months ago. According to a March 2018 press release,
We feel that this small but positive name change preserves our rich history and identity as a Community Bank, while better reflecting our continuing expansion into new lines of business products.
In addition to the name change, we’re adopting a new logo and the new tag line “Moving forward since 1873”, indicating that we will continue to add new financial products and services well into the future.
How the Promotional CD Compares
When compared to 346 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the Bank's market area, Sharon Bank’s 39-month Promotional CD APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.50% APY||39-Month Promotional CD||Sharon Bank|
|3.36% APY||36-Month CD||Franklin Mint Federal Credit Union|
|3.35% APY||3-Year Term Deposit||Mountain America Credit Union|
The above rates are accurate as of 12/5/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.