New Jersey

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New Jersey CD Rates

You are viewing rates from banks across New Jersey


Below are the best one-year CD Rates from banks in New Jersey. One-year CDs are usually the most popular term and offer a decent yield without having to lock-up money for an extended period of time. One year CD Rates are generally comparable to or a little higher than their savings and money market counterparts.

NJ - June 24, 2024

1 Year CD National Average : 0.56% ?

Advertiser Disclosure
Banks APY MIN MILES ?
 

13-Month Online CD - Save for the things you want later. Easy online application.

| Feb 15, 2024

I have always had great experiences with short-term CDs from this bank. No delays. Read More

Rate History: 2.00% → 5.40%

| Jun 26, 2022

ACH transfers are not allowed. Called and was told that I had to set up wire transfers (and pay fees) or I could come in to the bank and get a bank check. Read More

Rate History: 5.15% → 5.60% → 5.40% → 5.20% → 5.30%

| Apr 20, 2024

Save your tears for another day. Very frustrating. 1-star. Read More

Early Withdrawal Penalty is 180 days interest.
Rate History: 5.00% → 5.25%

| Nov 21, 2023

A real pain in the *** process to try and get approved! They were unable to match my drivers license photo with my live image after several times trying! Went to limelight bank instead and got approved in ... Read More

Rate History: 4.80% → 4.75% → 5.20% → 5.00% → 5.15%

| Dec 27, 2022

They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe? Read More

Rate History: 5.55% → 5.40% → 5.55% → 5.38% → 5.15%

5.08%

$5,000

-

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| Jul 9, 2023

Looks like indexed savings is now at 5.31%. Down, but it still beats anything else here. Why aren't you highlighting this for your readers? Read More

Warning: Early Withdrawal Penalty is 2% of the account balance.
Rate History: 5.25% → 5.05% → 4.95% → 4.80% → 4.95%

| 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: 5.25% → 4.85%

| Nov 28, 2022

While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w... Read More

Rate History: 5.40% → 5.25% → 4.85%

| Nov 18, 2023

bank delayed 1-2days to credit into your account, pay less interest. Read More

Rate History: 4.75% → 5.00% → 5.25% → 5.00% → 4.85%

Rate History: 5.00% → 5.25% → 5.00% → 4.90% → 4.80%

| 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: 2.20% → 2.25% → 5.00% → 4.75%

Rate History: 4.30% → 0.15% → 4.75%

Rate History: 4.85% → 5.00% → 4.80% → 4.70%

| Apr 14, 2020

I call HSBC they told me they don't have 1.85 1 year CD. current CD is 0.8 / year Read More

Rate History: 4.75% → 4.60% → 4.70%

| 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: 4.50% → 3.75% → 4.50%

| Aug 5, 2020

I used to go to M&T when it was still Provident Bank. M&T has been very responsive to my needs and I have been pleased with the banking experience. Read More

Rate History: 4.00% → 4.50%

Rate History: 4.60% → 4.34%

4.30%

0.40%

$5,000

$4,999

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| 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

Rate History: 5.00% → 4.00%

| May 19, 2018

Experience Read More

| Jul 28, 2022

Not at all happy with Truist compared to BB+T. New transaction policy makes them painfully slow. Paying .01 % interest on money market accounts, 13 week T Bill's are around $2.5%.I hope that they are enj... Read More

Rate History: 4.30% → 5.00% → 4.00%

| 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

Rate History: 3.51% → 0.03% → 3.75%

| 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

Rate History: 3.00% → 3.75% → 3.50%

| Jun 8, 2016

When is your next shred date @Ramtown? Read More

Rate History: 1.20% → 3.00%

| 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: 1.17% → 0.15% → 0.91% → 2.61%

| Apr 29, 2020

I called this banl there is no this rate Read More

| Nov 8, 2019

farmer Read More

Rate History: 4.30% → 4.00% → 2.75% → 2.00%

| 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

Rate History: 3.00% → 2.00%

| Jan 2, 2023

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

| Feb 6, 2023

after over 100k in transactions through this bank in the course of a year not only did i suffer from fraud but this bank closed my accounts and i have been lliable for all the losses and to top it off with... Read More

| Oct 11, 2020

You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More

| Mar 10, 2021

I think that it is absolutely despicable that I have been a customer of the Bank for more than 8 years and I bring in rolled coins with my account number on each wrapper and I am charged 5% fee. Cost me $3... Read More

0.65%

$100,000

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0.60%

$10,000

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| Nov 9, 2020

Here's what you will need: To be a resident of New Jersey or select Eastern Pennsylvania counties (the zip code provided in your application will receive an error stating "Zip code is not valid for this ap... Read More

0.55%

$1,000

-

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| Nov 6, 2022

I have been to your bank branch several times I don't want my statement to be mailed please once again I'm requesting for you to not send any oaperr statements to me i expect my privacy and you are still M... Read More

0.50%

$10,000

-

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| Apr 1, 2020

when I hit learn more, I get this box to rate the bank. WHY Read More

| Jan 12, 2021

They put paychecks on hold for a day so don’t expect your paycheck right away and they don’t answer their phones Read More

0.50%

$10,000

-

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0.50%

$10,000

-

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0.50%

$10,000

-

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0.50%

$10,000

-

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0.50%

$10,000

-

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0.50%

$100,000

-

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0.50%

$10,000

-

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0.50%

$10,000

-

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0.40%

$10,000

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0.35%

$10,000

-

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| 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

0.33%

$10,000

-

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| Mar 25, 2015

OLIVER NORTH AIR LINES GOVERNOR BLANCO Read More

0.30%

$10,000

-

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0.25%

$500

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| Dec 2, 2022

No such limits as referred to by Jonathan. Perfectly Happy with service and keep adjusting the rate! Read More

0.25%

$10,000

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| Jul 11, 2020

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

| Jan 11, 2020

I tried to do a re-fi loan through this place. Total nightmare. They never sent the loan disclosure prior to the closing. Imagine my surprise at closing when my cash to closing number increased by almo... Read More

| Nov 1, 2022

This local community bank “by far” exceeded my expectations of what a banking institution should be. They take the time to understand their customers needs, educatedly answer questions, and take the ti... Read More

| May 10, 2021

NVE Bank can change the amount of my deposit later days. Without my permission they can change and do whatever they like. On 4/17/2021 I deposit $ 9000.00. Two days later he call me asked me a questio... Read More

0.20%

$10,000

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0.20%

$10,000

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0.20%

$10,000

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0.20%

$10,000

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0.18%

$10,000

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0.18%

$10,000

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Rate History: 1.00% → 0.15%

| May 24, 2021

Rate is not valid BCC needs to improve on this. Its difficult enough savers are being penalized by the FED Read More

0.15%

$10,000

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0.11%

$10,000

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| 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

0.10%

$10,000

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| 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

| Jun 12, 2023

US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... 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

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

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

PRODUCT INFORMATION

Certificates of Deposit - Branch Banks 2024

A certificate of deposit (CD) is a savings product offered by a bank in which a depositor (someone who has money to put into the bank) agrees to commit a certain amount of money for a set period of time, in return for a fixed rate of interest. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.

CD Terms

The time period in which money is held in a certificate of deposit is called the term. Terms can run for any period of time but in general, banks use the following terms: 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months. Terms can either be described in months or years. The term that is right for each individual depends on their goals, the rate they which to earn, and their future plans for the money. In general, if rates are going up, savers should avoid putting the money into a long-term CD. If rates are going down, then the opposite is true, and savers should try and lock into a good rate for an extended period of time. In stable rate environments, CDs that are over 12 months in length can enable depositors to pick up a slight premium over savings accounts.

CD Risk

Almost all banks provide CDs to their consumers and they have been a mainstay of savers and retirement accounts for years. If FDIC insured, the CD represents a safe place to put money that will generate a predictable return.

Inflation is the main risk of a CD. Inflation can often run higher than the inflation adjusted return on a CD, thus eroding the value of the money stored in the CD over time. This is especially true for longer-term CDs opened in low interest rate environments.

How Interest is Paid

The method of distributing the interest earned on a CD varies by bank. Some banks pay interest monthly, other semi-annually, and others at the maturity of the CD. One advantage of a branch-based bank is that a depositor can walk into the bank and receive their interest that day in the form of a check. Online banks tend to use electronic funds transfer or check via mail.

Interest Rate

Since the financial crisis in 2008, CDs have become less popular because the yields they offer have dropped precipitously, making it difficult for retirees and savers to generate sufficient income. But investors looking for a place to stash some cash might still find CDs an attractive place for some of their savings. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.

When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.

ADVANTAGES AND DISADVANTAGES

The advantages of a Certificate of Deposit from a branch bank are:

  • Funds deposited in FDIC banks and within insurance limits are protected by the full faith and credit of the United States government.
  • CDs provide a predictable, set rate of return.
  • Depositors can walk into a local branch and open the CD and fund it that day. Question and inquiries can also be handles in-person.

The disadvantages of branch-based CDs are:

  • The deposited money is committed for a certain period of time and can only be withdrawn with substantial penalties.
  • One year CDs from branch banks often pay less interest than from online banks. Please see those rates here.

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.

SAVINGS & CD CALCULATOR

Find out how much extra money you can earn by moving your bank money into an account that pays more.

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