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New York CD Rates – 5 Year

Below are 5 year CD Rates from banks that are located in New York. 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.

NY - February 9, 2016

5 Year CD National Average : 1.17% ?

Bank APY MIN MILES ?
Bank Of Utica 2.50% $500 - Learn MoreShow Less
Santander Bank, N.a. 2.20% $500 - Learn MoreShow Less
Banco Popular North America 2.20% $1,000 - Learn MoreShow Less
Wallkill Valley Federal Savings And Loan Association 2.12% $2,500 - Learn MoreShow Less
Kearny Bank 2.10% $500 - Learn MoreShow Less
Seneca Federal Savings And Loan Association 2.02% $500 - Learn MoreShow Less
Alma Bank 2.02% $2,500 - Learn MoreShow Less
Northfield Bank 2.00% $2,500 - Learn MoreShow Less
Geddes Federal Savings And Loan Association 2.00% $500 - Learn MoreShow Less
Country Bank 2.00% $1,000 - Learn MoreShow Less
Usny Bank 2.00% $1,000 - Learn MoreShow Less
Manufacturers And Traders Trust Company 2.00% $500 - Learn MoreShow Less
Savoy Bank 2.00% $2,000 - Learn MoreShow Less
Rondout Savings Bank 1.90% $500 - Learn MoreShow Less
Ponce De Leon Federal Bank 1.85% $1,000 - Learn MoreShow Less
Quontic Bank 1.82% $1,000 - Learn MoreShow Less
Connectone Bank 1.77% $500 - Learn MoreShow Less
Citizens & Northern Bank 1.76% $100,000 - Learn MoreShow Less
The Westchester Bank 1.76% $1,000 - Learn MoreShow Less
The Delaware National Bank Of Delhi 1.76% $100 - Learn MoreShow Less
First Niagara Bank, National Association 1.75% $500 - Learn MoreShow Less
Solvay Bank 1.75% $500 - Learn MoreShow Less
Emigrant Bank 1.75% $1,000 - Learn MoreShow Less
Usny Bank 1.65% $1,000 - Learn MoreShow Less
Emigrant Bank 1.65% $1,000 - Learn MoreShow Less
Amalgamated Bank 1.65% $500 - Learn MoreShow Less
Northeast Community Bank 1.61% $500 - Learn MoreShow Less
Industrial And Commercial Bank Of China (usa), National Association 1.61% $100,000 - Learn MoreShow Less
Ridgewood Savings Bank 1.60% $500 - Learn MoreShow Less
First Central Savings Bank 1.60% $500 - Learn MoreShow Less
Eastbank, National Association 1.60% $2,500 - Learn MoreShow Less
Pioneer Savings Bank 1.60% $500 - Learn MoreShow Less
Customers Bank 1.60% $500 - Learn MoreShow Less
Citizens & Northern Bank 1.56% $10,000 - Learn MoreShow Less
Savannah Bank National Association 1.56% $1,000 - Learn MoreShow Less
First Citizens Community Bank 1.56% $100,000 - Learn MoreShow Less
Ulster Savings Bank 1.55% $500 - Learn MoreShow Less
Five Star Bank 1.55% $10,000 - Learn MoreShow Less
Patriot Federal Bank 1.55% $500 - Learn MoreShow Less
Lake Shore Savings Bank 1.55% $500 - Learn MoreShow Less
The Lyons National Bank 1.55% $500 - Learn MoreShow Less
Indus American Bank 1.55% $2,000 - Learn MoreShow Less
Maple City Savings Bank, Fsb 1.53% $1,000 - Learn MoreShow Less
Spring Bank 1.51% $1 - Learn MoreShow Less
Industrial And Commercial Bank Of China (usa), National Association 1.51% $2,500 - Learn MoreShow Less
Manufacturers And Traders Trust Company 1.51% $1 - Learn MoreShow Less
Evans Bank, National Association 1.50% $500 - Learn MoreShow Less
Sterling National Bank 1.50% $2,500 - Learn MoreShow Less
Carver Federal Savings Bank 1.50% $1,000 - Learn MoreShow Less
Carthage Federal Savings And Loan Association 1.50% $500 - Learn MoreShow Less
First American International Bank 1.50% $100,000 - Learn MoreShow Less
Bbcn Bank 1.50% $1,000 - Learn MoreShow Less
Nbt Bank, National Association 1.50% $1,000 - Learn MoreShow Less
The Bank Of Greene County 1.50% $1,000 - Learn MoreShow Less
Walden Savings Bank 1.45% $1,000 - Learn MoreShow Less
Community Bank, National Association 1.41% $10,000 - Learn MoreShow Less
Greater Hudson Bank 1.40% $5,000 - Learn MoreShow Less
Putnam County Savings Bank 1.40% $500 - Learn MoreShow Less
Rhinebeck Bank 1.40% $10,000 - Learn MoreShow Less
Astoria Bank 1.40% $500 - Learn MoreShow Less
Bcb Community Bank 1.40% $500 - Learn MoreShow Less
First American International Bank 1.40% $500 - Learn MoreShow Less
Global Bank 1.40% $1,000 - Learn MoreShow Less
Catskill Hudson Bank 1.35% $1,000 - Learn MoreShow Less
First Niagara Bank, National Association 1.35% $500 - Learn MoreShow Less
Mahopac Bank 1.35% $1,000 - Learn MoreShow Less
Bank Of Akron 1.35% $1,000 - Learn MoreShow Less
Manufacturers And Traders Trust Company 1.31% $1 - Learn MoreShow Less
First Citizens Community Bank 1.31% $10,000 - Learn MoreShow Less
Bank Leumi Usa 1.30% $10,000 - Learn MoreShow Less
Empire State Bank 1.30% $1,000 - Learn MoreShow Less
Berkshire Bank 1.28% $1,000 - Learn MoreShow Less
Bnb Hana Bank, National Association 1.26% $500 - Learn MoreShow Less
Hometown Bank Of The Hudson Valley 1.25% $1,000 - Learn MoreShow Less
First National Bank Of Scotia 1.25% $500 - Learn MoreShow Less
Salisbury Bank And Trust Company 1.25% $1,000 - Learn MoreShow Less
Apple Bank For Savings 1.25% $1,000 - Learn MoreShow Less
Peoples Security Bank And Trust Company 1.25% $1,000 - Learn MoreShow Less
Bank Of Akron 1.20% $500 - Learn MoreShow Less
Watertown Savings Bank 1.17% $500 - Learn MoreShow Less
Ctbc Bank Corp. (usa) 1.17% $1,500 - Learn MoreShow Less
Amerasia Bank 1.17% $2,500 - Learn MoreShow Less
Manufacturers And Traders Trust Company 1.16% $1 - Learn MoreShow Less
Valley National Bank 1.15% $500 - Learn MoreShow Less
Israel Discount Bank Of New York 1.15% $100,000 - Learn MoreShow Less
East West Bank 1.15% $10,000 - Learn MoreShow Less
Berkshire Bank 1.15% $1,000 - Learn MoreShow Less
Abacus Federal Savings Bank 1.15% $1,000 - Learn MoreShow Less
Victory State Bank 1.15% $100,000 - Learn MoreShow Less
Manufacturers And Traders Trust Company 1.11% $1 - Learn MoreShow Less
Tioga State Bank 1.10% $1,000 - Learn MoreShow Less
Jeff Bank 1.10% $100,000 - Learn MoreShow Less
Banco Popular North America 1.10% $10,000 - Learn MoreShow Less
The Upstate National Bank 1.06% $1,000 - Learn MoreShow Less
Berkshire Bank 1.05% $1,000 - Learn MoreShow Less
The North Country Savings Bank 1.05% $500 - Learn MoreShow Less
The First National Bank Of Groton 1.01% $100,000 - Learn MoreShow Less
Bank Of The Ozarks 1.01% $1,000 - Learn MoreShow Less
New York Community Bank 1.01% $500 - Learn MoreShow Less
Cathay Bank 1.00% $100,000 - Learn MoreShow Less
Saratoga National Bank And Trust 1.00% $1,000 - Learn MoreShow Less
Webster Bank, National Association 1.00% $2,500 - Learn MoreShow Less
The National Bank Of Delaware County 1.00% $500 - Learn MoreShow Less
Tompkins Trust Company 1.00% $1,000 - Learn MoreShow Less
Pathfinder Bank 1.00% $1,000 - Learn MoreShow Less
Jeff Bank 1.00% $1,000 - Learn MoreShow Less
Adirondack Bank 1.00% $1,000 - Learn MoreShow Less
Investors Bank 1.00% $500 - Learn MoreShow Less
City National Bank Of New Jersey 1.00% $500 - Learn MoreShow Less
Sussexbank 1.00% $1,000 - Learn MoreShow Less
Glens Falls National Bank And Trust Company 1.00% $1,000 - Learn MoreShow Less
Trustco Bank 1.00% $500 - Learn MoreShow Less
Mercantil Commercebank, National Association 0.95% $10,000 - Learn MoreShow Less
People's United Bank, National Association 0.90% $2,500 - Learn MoreShow Less
Bank Of Millbrook 0.90% $2,500 - Learn MoreShow Less
Cathay Bank 0.90% $2,500 - Learn MoreShow Less
Manufacturers And Traders Trust Company 0.90% $1,000 - Learn MoreShow Less
The Bridgehampton National Bank 0.90% $2,500 - Learn MoreShow Less
Victory State Bank 0.90% $500 - Learn MoreShow Less
Chemung Canal Trust Company 0.90% $1,000 - Learn MoreShow Less
Gibraltar Private Bank & Trust Co. 0.90% $1,000 - Learn MoreShow Less
New York Community Bank 0.90% $500 - Learn MoreShow Less
The Suffolk County National Bank Of Riverhead 0.90% $1,000 - Learn MoreShow Less
New York Commercial Bank 0.90% $500 - Learn MoreShow Less
Community Bank, National Association 0.85% $100,000 - Learn MoreShow Less
Td Bank, National Association 0.85% $250 - Learn MoreShow Less
The First National Bank Of Groton 0.85% $1,000 - Learn MoreShow Less
Modern Bank, National Association 0.85% $100,000 - Learn MoreShow Less
Community Bank, National Association 0.80% $1,000 - Learn MoreShow Less
Elmira Savings Bank 0.80% $10,000 - Learn MoreShow Less
Modern Bank, National Association 0.80% $10,000 - Learn MoreShow Less
Fairport Savings Bank 0.75% $500 - Learn MoreShow Less
Genesee Regional Bank 0.75% $500 - Learn MoreShow Less
Northwest Bank 0.75% $500 - Learn MoreShow Less
Woodforest National Bank 0.75% $500 - Learn MoreShow Less
Elmira Savings Bank 0.75% $10,000 - Learn MoreShow Less
Generations Bank 0.65% $500 - Learn MoreShow Less
Capital One, National Association 0.60% $1,000 - Learn MoreShow Less
Ballston Spa National Bank 0.60% $500 - Learn MoreShow Less
Manufacturers And Traders Trust Company 0.55% $1,000 - Learn MoreShow Less
Manufacturers And Traders Trust Company 0.55% $1,000 - Learn MoreShow Less
Citibank, National Association 0.50% $10,000 - Learn MoreShow Less
Patriot National Bank 0.50% $500 - Learn MoreShow Less
First Niagara Bank, National Association 0.40% $500 - Learn MoreShow Less
City National Bank 0.40% $2,500 - Learn MoreShow Less
Wells Fargo Bank, National Association 0.35% $10,000 - Learn MoreShow Less
Keybank National Association 0.35% $100,000 - Learn MoreShow Less
Jpmorgan Chase Bank, National Association 0.25% $10,000 - Learn MoreShow Less
Keybank National Association 0.25% $10,000 - Learn MoreShow Less
Hsbc Bank Usa, National Association 0.15% $1,000 - Learn MoreShow Less
Bank Of America, National Association 0.15% $10,000 - Learn MoreShow Less
Sawyer Savings Bank 0.15% $500 - Learn MoreShow Less
Citizens Bank, National Association 0.03% $1,000 - Learn MoreShow Less

BestCashCow strives to maintain the most accurate rates. If you find a rate that is not accurate, please let us know by commenting below so that we can update it. Thank you for your help.

  • Ken

    June 09, 2015

    The 5 year rate for zip code 76102 shows Compass Bank offering rates of 2.00% and 2.20%. The local Compass Bank however offers 0.50% APY for 5 year money. Can you elaborate on where these rates are pulled from?

  • debra

    May 19, 2015

    synovus says they do not have the rates advertised they say these rates have ended May 19 2015 10 days ago

  • Sally

    November 19, 2014

    If you are doing a TRUST...at Bridgewater Bank...be prepared to haul in all 50-100 pages of your original so they can copy it.

  • mike

    October 16, 2014

    Bridgewater bank 5 year cd rate is 2.1% now.

  • Charles Voytek

    September 01, 2014

    Rate Bank United Miami Florida 5years please

  • Mike

    July 23, 2014

    Bank of the west does not offer a rate of 2% on 5 year term

  • Sol

    May 14, 2014

    @Frank

    Hi Frank, I called and First Choice Bank in NJ is offering a 2.5% APY CD with a platinum checking account. The checking account has an average daily balance requirement of $500. You can see if a First Choice Bank is near your location here:

    http://www.bestcashcow.com/banks/first-choice-bank-branches-58471

    They have branches in the Philadelphia area. Hope that helps.

    Sol

  • Frank Rutolo

    May 07, 2014

    First Choice Bank does not offer a 2.50% 5yr cd.
    I called on 5/6/2014 and was told the rate is 2.05%
    for 5 yrs.

  • Bea

    November 26, 2013

    Please note that First Federal has just a one star rating on Bankrate. We have business with them and some months ago were sent a letter that another bank was supposed to take them over. It seems to have fallen through and I am concerned about First Fed's future. As soon as our CDs mature with them, I hope to find a more financially suitable bank or credit union to switch to. I don't like to do business with one star banks even if they are FDIC insured. When I first got with them they seemed to have much higher ratings.

  • reader

    November 23, 2013

    first federal will do great cd rates at a $500 minimum balance ----such as a 5 year cd for 1.50 apy ----please inquire and update information

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Five Year CDs - Branch Banks

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 most longest of the most common terms. Because they are the longest term, they also generally offer the highest rate of any CD term and 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 low rate, or 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 CDs currently pay about 70 percentage points 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

Advantages

 · 

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.

 · 

Branch-opened CDs can be done quickly in one day.

Disadvantages

 · 

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, you 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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