Signature Bank is still pushing for their certificate of deposit deals that remain to have very competitive interest rates despite the recent cuts. The best interest rate belongs to their 18-month CD which gains 2.07% APY.

They have the following top cd rates:

2.79% APY 36 months
1.98% APY 24 months
2.07% APY 18 months
1.76% APY 12 months
1.51% APY 6 months

These interest rates are not posted on the bank’s website but we have called their customer service line to confirm the figures. You can contact them through 1888-sigline. They also have a special line for the hearing and speech impaired through 212-730-7038.

Interested consumers in New York can take advantage of the current interest rates by depositing an initial CD fund of $5,000. These are regular certificate of deposit offerings so the bank does not ask for extra requirements such as a checking account.

A visit to one of their branches may be necessary to open an account since they do not have an online application platform yet. They have branches spread across Manhattan, Brooklyn, Bronx, Queens, Staten Island, Westchester, and Long Island.

Details about early withdrawal penalties, channels for funding, and other factors which may affect your earnings are not explained on their website. Please make sure that you ask aout these things when you talk to the bank personnel.

BauerFinancial issued 5 stars when they reviewed the performance of the bank using their September 2009 data. Bankrate.com stamped 4 stars to their financial rating report using their June 2009 figures.

The bank is indexed with the FDIC since 2001 under certificate number 57053.