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RomAsia Bank

2.50% 12-Month CD & Competitive Money Market Account at RomAsia Bank in New Jersey - Local Only


Update 8/07/09: The CD rates have fallen. Please check the bank's website for the latest rates.

RomAsia Bank is offering a 2.50% APY 12-month CD. Minimum deposit is $2,500. The rates for the other terms are not quite as good, but they're competitive. These include a 1.90% APY 3-month CD, a 2% APY 6-month CD, a 2.65% APY 18-month CD and a 2.75% APY 24-month CD. Higher rates may be available for Jumbo CDs with a $100K minimum.

The bank also has a money market account with a 2.25% APY for balances of $25K and above. The rate is 1% APY for balances from $5K to $25K. This money market account has a history of top rates. Last year the top rate was 3.95% APY.

These rates are listed at the bank's rate sheet as of 7/10/09.

A branch visit appears to be required to open an account. The bank's office is located in Monmouth Junction, New Jersey. It's a new bank that was just established with FDIC membership in 2008 (FDIC Certificate # 58702). Since the bank is so new, neither BauerFinancial nor Bankrate has safety and soundness ratings for it.

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Anonymous   |     |   Comment #1
The CD rates have dropped. The August 3 rate sheet shows 2.00% APY for the 12 mo. term, and 2.25% APY for the 18 mo. term. Not as competitive anymore.