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.