Hudson City Bank is offering a 2-year CD that pays 2.50% APY. That's the best 2 year CD rate according to the BestCashCow rate tables as of October 5, 2009. The bank is also offering a 3-year CD that pays 3% APY, which is tied for the top 36-month CD rate. There is a $5,000 minimum to open the CD and get the rate.
As pointed out in our review of Hudson City Bank, it is the largest thrift in the country with over $57 billion in assets. It is rated 5 out of 5 stars (superior) by Bauer Financial for its safety and soundness.
Application and Funding
CD's can be opened in the branch or online. Upon completion of the application, the signature card needs to be filled out and mailed back to the bank along with a copy of a valid driver's license. Funding can be done via a branch visit or electronically via ACH. ACH transfers typically take 2-3 days.
When the CD expires, users can go to the branch to withdraw the cash or do an online request to have the money sent via a cashier's check.
Sponsor Updates and Offers
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Related Articles:
October 19 CD Rate Update - Some Banks Increasing Rates by BestCash Admin - Oct 19, 2007
Washington Mutual 1 Year CD 4.50% APY, 8 Month 4.25% APY by BankMan - Aug 13, 2008
ING Raises Rates on CDs, One Year at 4% APY by BankMan - Aug 27, 2008
Everbank Top 3 Month and 6 Month CD Rates at 4.02% APY and 4.23% APY by BankMan - Sep 27, 2008
iGObanking.com Offering 9 Month CD at 4.15% APY by BankMan - Nov 08, 2008
Hudson City Bank by BankMan - Oct 04, 2009.
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