Broadway Federal Bank Is Offering 2.53% 2 Year CD, Available Nationwide

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Broadway Federal Bank, a LA and Inglewood, California bank, is currently offering a 2.53% APY 2 year CD available to residents of all states.

Broadway Federal Bank has raised their 2-year online CD from 2.02% to 2.53% APY.  Minimum deposit is $1,000.  This rate is current the highest on's 2 year cd rate table.

According to the bank's website, to apply for an account online, you must be a U.S. Citizen or resident alien, have a U.S. address and be 18 years or older.  The bank will verify your identification and require that you send a copy of your driver’s license or ID.  If you are a new customer you will be asked to mail a check along with the new account application or you can identify an account at another bank that you would like the funds withdrawn. In order to complete this process you will need the information at the bottom of one of your current checks.  Accounts are not opened until the Bank receives the funds. The Bank must receive funds within thirty days or your application for an account will be cancelled. Accounts are opened Monday through Friday only. Your account will receive the rate and annual percentage yield in effect on the date the account is opened. Certificate of Deposits will receive the rate and annual percentage yield in effect on the date the application is submitted.

The bank has a 4-star rating (excellent) at BauerFinancial (based on 12/31/09 data).

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