Top CD Rates » Certificate of Deposits http://www.top-cd-rates.org Top certificate of deposit rates: online, IRA, and jumbo certificates. Wed, 26 Aug 2009 07:17:13 +0000 en hourly 1 http://wordpress.org/?v=3.0 State Bank of India Increases Certificate Rates http://www.top-cd-rates.org/certificate-of-deposits/state-bank-of-india-increases-certificate-rates/ http://www.top-cd-rates.org/certificate-of-deposits/state-bank-of-india-increases-certificate-rates/#comments Thu, 25 Sep 2008 00:47:23 +0000 Top CD Rates http://www.top-cd-rates.org/certificate-of-deposits/state-bank-of-india-increases-certificate-rates/ State Bank of India in New York recently increased some of its CD rates. The competitive rates include a 4.42% APY 1-year CD, a 4.89% APY 3-year CD and a 5.30% APY 5-year CD. The minimum deposit is $5,000. In the past they used to have higher rates for larger deposits, but currently the rates are the same across for all tiers.

These CDs are offered through the bank’s New York branch and can be opened by mail.

Some important details:

  • They are not currently offering in-trust-for, POD and trust accounts.
  • For those who want interest payements, interest is paid quarterly to your transaction account at SBI.
  • Early withdrawal penalty is 90 days of interest for 1 and 2-year CDs, 180 days for the 3 year CD, and 270 days for the 5 year CD. The bank reserves the right to refuse such withdrawals.
  • 10 calendar day grace period at maturity of the CD
  • If you’re a new customer applying by mail, you will need to provide a notarized copy of your driver’s license

They have often had competitive CD rates. This is the US operation of State Bank of India and is FDIC insured. State Bank of India is the largest bank in India, and it’s the second largest bank in the world measured by the number of branch offices.

]]> http://www.top-cd-rates.org/certificate-of-deposits/state-bank-of-india-increases-certificate-rates/feed/ 0 Federal Trust Bank – 4.50% APY CD http://www.top-cd-rates.org/certificate-of-deposits/federal-trust-bank-450-apy-cd/ http://www.top-cd-rates.org/certificate-of-deposits/federal-trust-bank-450-apy-cd/#comments Wed, 16 Jul 2008 09:16:12 +0000 Top CD Rates http://www.top-cd-rates.org/certificate-of-deposits/federal-trust-bank-450-apy-cd/ Federal Trust Bank is offering a competitive CD rate of 4.50% APY on terms from 36 to 60 months. The minimum deposit is $500, and the early withdrawal penalty is 6 months of interest. Please see their rate table for more details.

It appears a branch visit is required to open the CD. Branches are located in several Central Florida cities including Winter Park, Sanford, New Smyrna Beach, Palm Coast and Eustis.

The bank isn’t in good financial shape. BauerFinancial gives it 0 stars based on 3/31/08 data. There’s an Orlando Sentinel article on its parent, Federal Trust Corp. According to the article, Federal Trust has been hit hard in the mortgage mess. It’s currently trying to raise $35 million in stock offering. Make sure you stay below the the FDIC insured limit.

]]> http://www.top-cd-rates.org/certificate-of-deposits/federal-trust-bank-450-apy-cd/feed/ 0