Special 5-Year CD Rate at Dime Savings Bank in New York

Dime Savings Bank is offering a promotional 5-year CD with a 2.10% APY. Minimum deposit is $500, and the maximum deposit is $250,000. This CD special is listed at this Dime page as of 1/3/2014.

Last year Dime Bank stopped accepting deposits from outside New York. If you live in New York, you may still be able to open these CDs by mail if you don't live near a branch. They require you to mail or fax copies of your driver's license and utility bill for identification.

Dime Savings Bank branches are located throughout the Greater New York City metro area.

The bank has an overall health grade at DepositAccounts.com of an A+ with a Texas Ratio of 2.18% (excellent) based on September 2013 data. Please refer to our financial overview of Dime Savings Bank for more details. The bank has been a FDIC member since 1943 (FDIC Certificate # 16012).

How This CD Rate Compares

This special rate is way under the 3.04% APY that PenFed is offering for its 5-year CD. Nevertheless, for a bank it’s competitive. The highest 5-year CD rate that’s nationally available from a bank is 2.16% APY from EverBank. Also, this Dime CD promo is a nice sign that more banks are increasing their CD rates. Hopefully, we’ll keep seeing more of these higher CD rates this year.

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