Greater New York Region CD Rates Higher than Average

Five-year CD rates in the Greater NY region are higher than the national average, according to a recent report by RateWatch.

TheStreet.com explained: “In the Greater New York Region area, the average 5-year CD rate sat at 1.117%, higher than the national average of 1.13%.”

Further reports add that the average 3-year CD rate in the region was 0.79% with a range of 0.05% to 1.5% found at Oritani Savings Bank.

“And if you are on the market for a 1-year CD, take a look at Doral Bank, which currently offers a rate of 0.94% as compared to the Greater New York Region average of 0.39%” it continued.

Doral is listed amongst the top rate issuers in the NY region. Other banks on the list include Signature Bank; BBCN Bank; Wilshire Bank; BankUnited and National Association.

James

James Allenby is the editor of Gowanus Lounge, bringing to his position a vast background on New York, and especially Brooklyn history, culture and lifestyle. Born and bred in the heart of "the County of Kings" James Allenby knows what it means to be a Brooklynite, and imparts this meaning at all times to his readers. Contact James at info(at)gowanuslounge.com.