6.00% 9-Month CD at a New York Bank (Elmira Savings)

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Elmira Savings Bank is offering a 6.00% APY 9-month special certificate of deposit. There is no penalty for early withdrawal. You can qualify for a 0.25% higher rate if you open a Maximizer Checking account which requires $2.5 in aggregate deposits to avoid a $10 monthly fee.

The bank has branches in the New York cities of Elmira, Horseheads and in the Pennsylvania city of Mansfield.

Elmira Savings Bank has been FDIC insured since 1943. Bankrate.com rates the bank 3 out of 5 stars (performing).

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6 Comments.
Anonymous
Anonymous   |     |   Comment #1
Ken,

Thanks for the information. You're doing a great job!

First, is there an expiry date for this special promotion?

Second, when I open the account, does the bank perform a full/hard credit pull ("hard inquiry") from the credit bureaus to verify my identity?

Third, does the
9-month CD qualify as part of the aggregate deposits of $2500?
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1
Anonymous
Anonymous   |     |   Comment #2
Hi All,
Promo is only good for New York state. No out of State deposits.
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1
awm129
awm129   |     |   Comment #3
strange to see a home town bank on ken's blog. This bank is one of the more reputable in the area.
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1
Anonymous
Anonymous   |     |   Comment #4
ESB has a single branch office in PA. They will for certain accept deposits from PA residents living within their service territory. They might accept deposits from other PA residents, but this is NOT something of which I am certain.
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Anonymous
Anonymous   |     |   Comment #5
I spoke to Jan this morning at the number on the website. I told her I lived in Michigan. I told her I saw the add on the internet. Told her I had a CD maturing today. Told her the amount and that I wanted to add to it. She said to send a notorized letter with all the information names on CD ITF for beneficiearies along with copies of drivers license, and another piece of ID and she would send the signuature cards. I Sent it along with the check by certified mail today. I will be very upset if I drove 30 miles each way to cash in the CD and send a certified letter and cannot do this.
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1
Banking Guy
Banking Guy   |     |   Comment #6
Thanks for checking on this bank. I had emailed this bank for additional info, but I have not received back any yet.
Reply
1

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