Massena Savings and Loan Offering 2.56% APY 3-Year CD

Massena Savings and Loan is paying 2.56% APY on a 3-year CD. That's one of the highest rates according to BestCashCow data.

For comparison, the best 3 year CD rate for an online account is 2% APY with a $100,000 minimum balance. The minimum balance for the Massena CD is $1,000. The catch is that the CD is only available in Massena's limited footpring of update New York. The bank has two branches in Massena, NY and Waddington, NY. I called them and they do not accept applications via phone or online.

But even if you don't live in Massena's footprint, other local banks are offering very competitive rates. For example, Adrian State Bank in Adrian, MN is offering a 3-year CD for 2.51% APY and Gibraltar Private Bank & Trust Co. in Coral Gables, FL is offering a 2.50% APY 3-year CD. Before you open any account be sure to check local CD rates by clicking through to our tables to find the most competitive offer in your area. BestCashCow provides competitive local bank rates for every zip code in the country.

A high rate does not mean a risky bank. Massena has $138 million in assets (a small bank) and a Texas ratio of 16.08% versus the national average of 24.44% (the lower the ratio, the better). Deposits at Massena are FDIC insured.