Best NYC Banks to Invest your money

This includes Citibank, Chase Manhattan, Bank of America and Federal Reserve Bank of NY which really dont have the Best CD Rates to offer for the people wanting to stash their money into CD Rates. Many of them have since moved their headquarters from the Big Apple. Unfortunately none of these giant financial institutions need much money on deposit and have very low CD Rates.

Many of the others like the Bank of New York Mellon refuse to post their CD rates. They require you to contact them if you desire this information. This is a general sign that their rates lack being competitive and wish to have you in their office to sell the CD on other aspects of the account other than attractive rates.

It is the local community banks that are currently offering decent CD rates for their customers. Intervest National Bank is one of the few that actually advertises their CD rates. They are currently offering a 6 month CD that is earning an APY of 0.60%. The 1 year CD is earning an APY of 1.15%. The 2 year CD is earning an APY of 1.50%. The 5 year CD is earning an APY of 2.33%. These rates require a minimum deposit of $2,500 and were posted on February 23, 2011.

As for the M&T Trust CD rates, they are offering a 6 month CD at an APY of 0.25%. The 1 year CD is at an APY of 0.50%. They also are offering a promotional 6 month CD that is earning an APY of 0.35%. The 1 year CD at 0.65% and a 5 year promotional rate of 2.00%. Each of these requires a minimum deposit of $1,000 and was posted on February 16, 2011.

The worst CD rates are from Chase. They have a 6 month CD that is earning an APY of 0.25%. The 1 year is also only offering an APY of 0.25%. These require a minimum deposit of $1,000.

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.

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