Weekly Rate Deal - First Choice Bank Offering 2.80% APY 5-Year CD
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Weekly Rate Deal - First Choice Bank Offering 2.80% APY 5-Year CD

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With average five year CD rates down to 1.60% APY according to BestCashCow's database, we went searching for yields that smashed the average. What we found was the highest bank rate in the land. First Choice Bank, headquartered in New Jersey is offering a 60-month CD paying 2.80% APY with a $1,000 minimum balance.

With average five year CD rates down to 1.60% APY according to BestCashCow's database, we went searching for yields that smashed the average. What we found was the highest bank rate in the land. First Choice Bank, headquartered in New Jersey is offering a 60-month CD paying 2.80% APY with a $1,000 minimum balance.

The CD must be opened in person at one of their five branches located in the Trenton, NY area. First Choice Bank is a relatively young bank, having been founded in 2007. The bank has $500 million in assets and has grown almost 10X since openening (2007 assets were $50 million). Like many banks opened after the worst of the financial crisis, it looks relatively healthy with a Texas Ratio of 10.45% versus the national average of 21%. Most banks found after the financial crisis escaped the lending binge leading up to 2007-2008 and thus seem to have cleaner balance sheets.

Unlike banks that are shrinking and offering lower rates, First Choice is cleary hungry for deposit dollars and willing to pay for them.

First Choice Bank is headquartered in Lancerville, NJ, a small town eight miles south of Princetown and 8 miles North of Trenton.

If you don't live near a First Choice Bank branch, look for the highest CD rates in your local area by clicking through to our table on the tab above. BestCashCow has the Inernet's largest database of bank rate information.

Previous Weekly Rate Deals

Check back next Monday for a new bank deal. Email any deals you know about to ratedeal (at) bestcashcow.com. Feel free to also share them below. If you're a bank and have a great deal not listed on BestCashCow, register for access and add the deal to the site.

Have a good week!

Sol Nasisi
Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

Today's Highest Online CD Rates

Bank Product Term Interest Rate (APY)
Rising Bank 1-Year 2.85% APY with $1,000 minimum
First Internet Bank of Indiana 1-Year 2.83% APY with $1,000 minimum
TIAA Bank / Everbank 1-Year 2.81% APY with $1,000 minimum
Popular Direct 3-Year 3.15% APY with $10,000 minimum
M.y. Safra Bank 3-Year 3.10% APY with $1,000 minimum
Peoples Bank 3-Year 3.05% APY with $100 minimum
Popular Direct 5-Year 3.50% APY with $10,000 minimum
First Internet Bank of Indiana 5-Year 3.30% APY with $1,000 minimum
Colorado Federal Savings Bank 5-Year 3.25% APY with $5,000 minimum

See More Online CD Rates →

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