3.50% APY Current CD rates for 60-month CD with City National Bank, local deal for PA, NY, NJ
The City National Bank invites consumers to take advantage of their best interest rates for long-term certificate of deposit deals. These top cd rates are given to all tiers:
• 2.25% APY for 24 months to under 36 months
• 2.50% APY for 36 months to under 48 months
• 3.00% APY for 48 months to under 60 months
• 3.50% APY for 60 months and over
Interest individuals can enjoy these best interest rates with an initial deposit of $500. It looks like these interest rates are also effective for the bank’s IRA CDs.
The cd rates for the certificate of deposit are fixed for a year. It also assumes that you will keep the interest in the account for a year and that the required minimum balance will be maintained for a year. The interest is compounded on a daily basis and accrues based on your actual daily balance for the calendar year.
It seems you need to go to one of their branches to open an account. They have offices spread across New Jersey (Paterson, Hackensack, and Newark); Pennsylvania (Philadelphia); and in New York (Roosevelt, Hempstead, and New York City).
The bank received 3 stars for soundness and safety from both Bankrate.com and BauerFinancial.
The bank is covered by the FDIC with certificate number 21111.
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