Valley National Bank in New Jersey and New York is offering some stellar CD rates on maturity terms from 36 months to 72 months.
Cash in the bank is yielding so little that it makes saving seem futile. If delving in riskier options is out of the question, signing up for a long-term commitment is one way to get higher rates. At the moment, few CD rates can top 3.00% APY – those that do are commonly found at small community banks.
Valley National Bank CDs
Valley National Bank is one of those community banks that are currently offering a better return if you are willing to keep money with them for the next several years. As of Mar. 21, these are the competitive long-term CD rates available at Valley National Bank:
|Term||APY (as of 3/21/11)||Minimum opening deposit||Early withdrawal penalty|
|36 months||2.00%||$500||365 days of interest|
|48 months||2.25%||$500||365 days of interest|
|60 months||2.75%||$500||540 days of interest|
|72 months||3.00%||$500||540 days of interest|
New Jersey-based Valley National Bank is a regional bank that operates nearly 200 branches serving 135 communities throughout northern and central New Jersey and the boroughs of Manhattan, Brooklyn, and Queens in New York City.
Accounts at Valley National Bank only available to customers residing in New Jersey and New York. New customers visit a local Valley National Bank branch to complete paperwork for opening an account.
For more information about CDs from Valley National Bank, click here.
Compared to Leading CDs
For comparison, here are the leading nationwide CD rates available under similar maturity terms:
|Term||APY (as of 3/21/11)||Minimum opening deposit||Early withdrawal penalty||CD Term||Bank||APY (as of 3/21/11)||Minimum opening deposit||Early withdrawal penalty||Product info|
|36 months||2.00%||$500||365 days of interest||36 months||Bank of Internet||1.86%||$1,000||18 months of interest||Learn more|
|48 months||2.25%||$500||365 days of interest||48 months||OneWest Bank||2.30%||$5,000||Greater of 2% of amount withdrawn or Market Adjustment||Learn more|
|60 months||2.75%||$500||540 days of interest||60 months||Sovereign Bank||2.80%||$500||12 months of interest||Learn more|
|72 months||3.00%||$500||540 days of interest||72 months||Intervest National Bank||2.40%||$2,500||36 months of interest||Learn more|
Valley National Bank offers attractive yields on 36-month and 72-month terms with comparably lower required opening deposit minimums and early withdrawal penalties.