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ISN Bank

3.82% 6-Month / 3.77% 3-Month CD at ISN Bank - Nationally Available


ISN Bank is offering some attractive short term CD rates. These include a CD with a yield 3.77% APY for terms of 3 to 5 months, a 3.82% APY 6-month CD and a 3.87% APY 12-month CD. Terms under 6 months require a minimum deposit of $10,000. The minimum for terms of 6 months and over is $1,000.

The bank has an application page which describes how you can mail or fax in the application and fund it with a wire transfer. I called and confirmed that it's available to people in any state. If you do apply, I would recommend calling first. They will take your name and give you 7 days to fund the CD at the current rate. They don't charge for incoming wire transfers.

Outbound wire transfers that you might use when the CD matures is $15. Another thing to note about CD maturity is that the grace period is 7 days and they don't pay interest during the grace period if you close the CD (see disclosure).

It's a small bank located in New Jersey. One thing to note is that its financial ratings are very low: 0 star at BauerFinancial based on 3/31/08 data and 1 star at Bankrate based on 12/31/07 data. As I recommend with any bank, make sure to keep below the FDIC limits (FDIC Certificate # 57107).

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Anonymous   |     |   Comment #1
I am a former customer of ISN Bank. I liked the bank and their people. I was well and fairly treated. It's a sad thing that they might be in trouble. Only reason I left the bank: they lowered their rates. Otherwise I'd still be a customer. The 3.82% CD is tempting.