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CD Rates – 5-Year – New York City, New York

You are viewing local cd rates from banks around: New York, NY 10116





Below are 5-year CD Rates from banks that are located within 20 miles of your location. Five-Year Certificates of Deposit (CD) are generally the longest term CD that most banks will offer. They tend to offer the highest rates but require the longest commitment. Five-year CDs are especially popular in a declining interest rate environment as depositors can lock money in at the highest rate possible for the longest period of time. They are also popular with depositors who are willing to lock up money for five-years in return for extra yield.

New York City, NY - July 30, 2025

5 Year CD National Average : 0.92% ?

Banks APY MIN MILES ?

Early Withdrawal Penalty is 730 days interest.
Rate History: 4.10% → 4.20% → 4.15% → 4.05% → 4.20%

| Dec 18, 2023

I submitted a CD application 18 months 5.50 APY over a week ago and my application was declined no reason was given, I have the funds in another bank for transfer, credit score over 800. I think the reason... Read More

Warning: Early Withdrawal Penalty is 2% of the account balance.
Rate History: 4.20% → 4.15% → 4.10% → 3.95% → 4.05%

| Jul 3, 2023

A 2% early withdrawal fee on a 1-year CD is almost equally insane as a 270 day one. Read More

Rate History: 3.05% → 3.50% → 4.11% → 4.00%

| Mar 21, 2023

Parent seems to be owned by a large Chilean bank. Not saying this is good or bad, but it is complication, especially in the current environment. Read More

Rate History: 4.50% → 3.50% → 4.00%

Early Withdrawal Penalty is 90 days interest.
Rate History: 3.00% → 4.11%

| Jul 1, 2022

Very easy opening process and wonderful staff. Read More

Rate History: 4.00% → 3.85% → 3.75% → 3.80%

| Aug 2, 2023

Sallie mae is just a horrible institution. We've done business with them before and swore on the holy bible not to go near there again, but a 18 mos cd at 5.55% brought us back. Read More

Rate History: 3.50% → 4.00% → 3.90% → 3.75%

| Oct 2, 2015

I have a CD maturing on 11/15 please email your CD Rates and contact info. Read More

Rate History: 4.47% → 4.37% → 4.11% → 3.96% → 3.75%

Rate History: 4.00% → 3.90% → 3.75% → 3.50%

| Jan 2, 2024

Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although... Read More

Rate History: 3.55% → 3.50%

Early Withdrawal Penalty is 180 days interest.
Rate History: 4.00% → 4.00% → 3.40%

| Nov 12, 2022

I was shopping for deposit rates in August, and NerdWallet, a site I had previously trusted, had it on their list. I was unaware they took deposits. They are the only bank that ever duplicated a transactio... Read More

Rate History: 3.45% → 3.65% → 3.35%

| Dec 3, 2019

Have done business with "Hope's" San Diego branch for a few years. Always courteous and helpful. Looking forward to doing business with them in the future. Read More

Rate History: 2.50% → 3.35%

Rate History: 3.70% → 3.75% → 3.85% → 3.75% → 3.35%

| Apr 25, 2022

We would not be having all this trouble with people sealing money out of other people's bank accounts if we were to just stop using fancy banking like onlinebanki Read More

Rate History: 0.40% → 3.25%

Rate History: 3.60% → 3.70% → 4.00% → 3.25%

| Mar 25, 2020

I was told on the phone by a bank rep that my present money market acct interest rate would continue at 2.25% until June 30, 2020 and would be FDIC covered up to $250,000. Please verify if this is true???... Read More

Rate History: 3.20% → 3.35% → 3.20%

Rate History: 4.20% → 4.30% → 3.80% → 3.70% → 3.20%

| Jul 1, 2022

Very easy opening process and wonderful staff. Read More

Rate History: 2.00% → 0.60% → 2.00% → 0.60% → 3.00%

| Jul 31, 2020

Reduced savings rate from 1.88% to .75% a day after I deposited a substantial amount of money and no notice given or reduction in rate told to me Read More

| Feb 5, 2020

The employees of this bank are helpful but the bank's systems and procedures for obtaining your account information STINK. If you want a bank that provides you quarterly (or even annual) statements by mai... Read More

Rate History: 4.30% → 3.50% → 3.00%

| Mar 17, 2023

STAY AWAY ! They closed my accounts with no warning. After multiple successful direct deposits and mobile checks deposits, they claimed one of the three checks I deposited a few days ago was fake. No... Read More

| Dec 21, 2023

Very easy to setup 6 month 5.35% CD from cornerstone account Read More

Rate History: 3.00% → 2.75%

| Mar 20, 2016

Good solid bank. Read More

| Feb 25, 2022

I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More

| Feb 13, 2018

Is it legal to bring someone into the branch and shake them down and threaten them when they want to redeem their CD upon maturity (as opposed to allowing it to automatically renew)? If not, these guys an... Read More

Rate History: 2.00% → 2.50% → 2.00%

| Jan 2, 2023

Terrible customer service by investment side. Fees too high , too full of themselves Read More

Rate History: 1.51% → 1.31%

Rate History: 0.10% → 1.50% → 3.50% → 1.50% → 1.14%

| Apr 4, 2016

I been with trustco for years and it is well run. They really are a home town bank. As a small business person i appreciate the business card stand they have in the branches for there customers. I was w... Read More

| May 14, 2015

looking to refinance into a fixed equity 15 yr loan, I have now a 1st Mortg & equity line total of about 218000. looking to get about 360 & pay off the old ones & have extra, I have a 4 unit house were we ... Read More

1.01%

$10,000

13.24

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1.01%

$10,000

3.60

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1.00%

$10,000

17.45

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| Jul 11, 2020

A great bank. Rates are competitive and they have outstanding customer service. Read More

1.00%

$10,000

5.50

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0.90%

$10,000

18.67

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0.75%

$10,000

16.47

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0.75%

$1,000

2.25

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0.75%

$10,000

15.23

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0.74%

$10,000

2.43

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0.65%

$10,000

0.51

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0.60%

$100,000

23.14

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0.55%

$10,000

23.14

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0.55%

$1,000

0.15

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| Jun 2, 2022

I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a... Read More

Rate History: 0.65% → 0.50% → 4.25% → 0.50%

| Mar 26, 2021

Spencer Bank is by far, the ABSOLUTE WORST Banking institution there is. The Bank - and the Headquarters - display a host of shortcomings and clearly are the most substandard bank - dealing with numerou... Read More

0.50%

$10,000

9.16

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Rate History: 0.40% → 0.65% → 0.40%

| Mar 29, 2020

have been waiting 8 weeks - yes 8 weeks for a closing date from this bank ..... they keep giving flimsy excuses requesting insignificant and unnecessary paperwork from us ( the seller ) the buyers who know... Read More

| Mar 15, 2023

Oh Natty natty natty, haha the fact you need to take out (probably a second) loan for $160,000 on a $625,000 sends up all kinds of red flags. The bank was right to run away from YOU dear hahaha. Read More

| Jun 10, 2022

This bank hasn't raised their rates! Maybe I was sleeping but I need to get out of here fast. Read More

0.25%

$10,000

16.27

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| Mar 28, 2022

Vaporware. Was approved to open an account. I logged in on several different browsers with differing rendering codes--each time got nothing but 3 circles running left to right for up to a half hour when I ... Read More

0.20%

$100,000

3.69

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Rate History: 0.03% → 0.05%

| Mar 28, 2023

On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More

| May 18, 2019

Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More

| Jul 24, 2023

BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular... Read More

0.00%

$10,000

5.23

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All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

Branches Info around zip 10116


Branch Street City State
Spring Bank
Harlem Branch - Frederick Douglas Blvd
301 W. 111th Street New York NY
M.Y. Safra Bank
M.Y. Safra Bank, Fsb Branch
499 Park Avenue New York NY
Popular Bank
Perth Amboy Branch
631 State Street Perth Amboy NJ
State Bank of India
State Bank Of India Branch
460 Park Avenue New York NY
Capital One, National Association
Livingston Circle Branch
623 West Mount Pleasant Ave Livingston NJ
Maspeth Federal Savings and Loan Association
101-09 Metropolitan Ave Branch
101-09 Metropolitan Ave New York City NY
First Central Savings Bank
First Central Savings Bank Branch
45-08 46th Street Sunnyside NY
LendingClub
Lakeville Rd Branch
2020 Lakeville Rd New Hyde Park NY
Bank of Hope
Bank Of Hope Branch
211 Broad Avenue Palisades Park NJ
Ponce Bank
Bergenline Ave. Branch
3821 Bergenline Ave Union City NJ
Ridgewood Savings Bank
Bay Ridge Branch
8522 Third Avenue Brooklyn NY
Blue Foundry Bank
Montville Branch
448 Main Road Towaco NJ
Customers Bank
Osborn Branch
101 Theall Road Rye NY
Sunnyside Federal Savings and Loan Association of Irvington
Sunnyside Federal Savings And Loan A Branch
56 Main St Irvington NY
Amalgamated Bank
Lyndhurst Branch
734 Ridge Road Lyndhurst NJ
Cross County Savings Bank
Kings Branch
731 Metropolitan Ave. Brooklyn NY
M.Y. Safra Bank
M.Y. Safra Bank, Fsb Branch
499 Park Avenue New York NY
Kearny Bank
Montville Branch
339 Main Road (Route 202) Montville NJ
Northfield Bank
Westfield Branch
828 South Avenue W Westfield NJ
Empire State Bank
Railroad Avenue Branch
1361 N. Railroad Avenue Staten Island NY
Hanover Community Bank
Hanover Community Bank Branch
2131 Jericho Turnpike Garden City Park NY
Quontic Bank
Quontic Bank Branch
31-05 Broadway Astoria NY
Apple Bank
Staten Island Branch
2655 Richmond Avenue, Suite 2005 Staten Island NY
Citizens
Yonkers Branch
2371 Central Park Avenue Yonkers NY
Eastbank, National Association
Eastbank, National Association Branch
183 Centre Street New York NY
Citibank, National Association
Private Bank Branch - Short Hill
101 John F Kennedy Parkway, 4th Floor Short Hills NJ
New Millennium Bank
Fort Lee Branch
1620 Lemoine Avenue Fort Lee NJ
Habib American Bank
Iselin Branch
1585 Oak Tree Road Iselin NJ
JPMorgan Chase Bank, National Association
Oakes Field Center Branch (Frgn)
Russell Road And Thompson Nassau
PCB Bank
Fort Lee Office Branch
1550 Lemoine Avenue Fort Lee NJ
City National Bank
6th Avenue Branch
1140 6th Avenue New York NY
TrustCo Bank
Bronxville Branch
5-7 Park Place Bronxville NY
Provident Bank
Metuchen Branch
599 Middlesex Avenue Metuchen NJ
Alma Bank
Clifton Branch
1133 Main Avenue Clifton NJ
Dime Community Bank
52nd Street Manhattan Branch
12 East 52nd Street New York NY
Ascendia Bank
Glen Rock Savings Bank Branch
25 W Northfield Rd Livingston NJ
Unity Bank
Edison Branch
1746 Oak Tree Road Edison NJ
Metropolitan Commercial Bank
Boro Park Branch
5101 13th Ave Brooklyn NY
Haven Savings Bank
Summit Br Branch
385 Springfield Avenue Summit NJ
Bogota Savings Bank
Classic Residence Branch
655 Pomander Walk Teaneck NJ
PCSB Bank
Mount Vernon Br Branch
40 East First Street Mount Vernon NY
NorthEast Community Bank
West 23rd Branch
242 West 23rd Street New York City NY
Webster Bank, National Association
Yonkers Branch
760 Mclean Ave Yonkers NY
Carver Federal Savings Bank
Atlantic Terminal Branch
4 Hanson Place Brooklyn NY
Global Bank
Global Bank Branch
8 Catherine Street New York NY
Hanmi Bank
Edison Branch
1031 Us Hwy 1 South Edison NJ
Hanmi Bank
Edison Branch
1031 Us Hwy 1 South Edison NJ
Abacus Federal Savings Bank
World Trade Center Branch
116 Nassau Street New York NY
Spencer Savings Bank, SLA
Garwood Branch
325 North Avenue Garwood NJ
Hana Bank USA, National Association
Keb Hana Bank Usa, National Association Branch
136 Broad Avenue Palisades Park NJ
Cathay Bank
Brooklyn Branch
5402 Eighth Avenue Brooklyn NY
Freedom Bank
Freedom Bank Branch
99 West Essex Street Maywood NJ
Bank of Hope
Bank Of Hope Branch
211 Broad Avenue Palisades Park NJ
Metro City Bank
Bayside Branch
212-45 Northern Boulevard Bayside NY
East West Bank
Brooklyn 8th Avenue Branch
5801 8th Avenue Brooklyn NY
Crown Bank
Cranford Branch
2 North Union Avenue Cranford NJ
Alpine Capital Bank
Alpine Capital Bank Branch
680 Fifth Avenue, 7th Floor New York NY
KeyBank National Association
North Middletown Road Branch
93 North Middletown Road Pearl River NY
PNC Bank, National Association
North Edison Branch
1085 Inman Avenue Edison NJ
Bank of America, National Association
North Point Branch (Frgn)
179 Kings Road North Point
Industrial and Commercial Bank of China USA, National Association
Brooklyn Branch
5714 8th Avenue (At 57th Street) Brooklyn NY


BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Five Year CDs - Branch Banks 2025

Five-year CDs are the big kahuna of the CD world. While banks may offer six-year, seven-year, or even 10-year CDs, the five-year is the longest of the most commonly offered terms. The 5-year CD is therefore often the highest offer at your local bank. Therefore, the temptation for those looking for yield is to open one, deposit money, and forget about it for five years. This could be a mistake. In rising rate environments a five-year CD may not be a good investment.

Safety

Like every other CD term, five year CDs from FDIC insured banks are protected up to FDIC limits (generally $250,000 per account holder per bank). If your deposit is over the FDIC limit then you may not receive the uninsured money in case of a bank failure.

Inflation

The principle threat to a a five year CD is inflation. If the CD is opened in a low rate environment, and rates and inflation subsequently rise, then inflation will erode the value of the certificate of deposit over its five years. For example, if a depositor opened a five year CD in year 1 with a yield of 2.05% APY and inflation at 1.5%, then the real return is .55 percentage points. But if inflation rises the next year to 2.5% and stays there for the next four years, then the CD in real terms is losing money every year: 2.05% - 2.5% = -.45%.

While it is impossible for anyone to predict too far into the future, savers should be cognizant of the economic environment before locking up money for a five year time-period. Our rate analysis page provides some insight into where we think rates will go.

On the other hand, if rates are falling and will continue to do so for some time due to an economic recession then it makes sense to lock in a higher rate with a five year CD. Savers who opened five year CDs in 2008 immediately after the financial crisis were able to lock in rates in the 6% range, a great move considering two years later a five year CD paid below 3%.

Interest

Five-year CDs currently pay about 1.00% more in interest than a one year CD. In general, CDs of this duration are best opened as part of a laddered CD portfolio or if the depositor thinks that rates will either stagnate or drop over the next couple of years.

Opening a Five Year CD

Opening a five year CD in a branch is relatively easy and similar to every other CD term. Most banks require the customer be a resident of the United States and most branch-based banks ask that the account be opened in the bank. Funding can be performed by transferring money that is already located at that bank or by check or ACH transfer from another bank. The CD can be opened that day and the rate locked.

With longer term CDs, savers should make sure they put a record of the CD in a safe place and that if they move, they forward their new address to the bank. In cases where the bank cannot find the CD holder, the bank may hand the funds over to a state authority as a lost deposit, and it will require onerous paperwork to reclaim the money.

ADVANTAGES AND DISADVANTAGES OF FIVE YEAR CDs

Advantages of five year CDs

  • 5 year CDs provide the highest rate of the common CD terms.
  • The return is fixed for five years, which is an advantage in a flat or falling rate environment.

Disadvantages of five year CDs

  • The money is locked away for five years and cannot be withdrawn without a substantial penalty.
  • In a rising rate environment, inflation will reduce the value of the money in the CD over time.
  • Branch CDs require the saver to visit a branch and be subjected to cross-sell pitches and other marketing tactics.

All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

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