2.50% APY best cd rates for 30-month CD special with Astoria Federal Savings, 9-month money in the bank CD deal earns 1.50% APY
The Astoria Federal Savings is pushing for their top cd rates at 2.50% APY for a 30-month special certificate of deposit which only requires an opening balance of $500.
Another competitive interest rate is being offered for their 9-month CD which gains 1.50% APY. The number may not be that impressive but it is what you call attractive cd rates these days.
We called Astoria through their hotline 1800-278-6742 to inquire about their best cd rates. The customer service representative told us that you can open these certificates over the phone. What they will do is take your information and send you a welcome packet. They can lock the interest rate for 10 days which is just enough time for you to decide and send them the initial funds. You can send a check via post or just wire them the money (which will cost you $15 for incoming transfer fee).
The current interest rates are still posted on their website but they can change any time without notice. They usually update the website and the certificate of deposit rates every Tuesday.
Closing the CD account may be a hassle if you don’t live near one of their branches. You will be required to send instructions together with your passbook, then they will send you the check via postal mail. There is no option for a wire transfer to send the money.
The certificates of deposit are available nationwide. Liquid accounts like the checking and savings account are not offered nationwide. Unlike other banks, you don’t have the option to transfer your funds from the CD to any of your liquid accounts to avoid mailing of the check.
If you decide to open an account, the easiest way is still dropping by one of their branches. They have a good network of offices operating in New York. They have offices in Westchester, Suffolk, Nassau, Queens, and Brooklyn.
The financial ratings of Astoria Federal Savings are mixed. Bankrate.com issued 2 stars for performance while BauerFinancial stamped 4 stars on their soundness and safety report. Both of these figures were based on their September 2009 financial data.
The bank is covered by the FDIC with certificate number 29805.
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