Bank CD rates in New Jersey were lower across the board for the week ending September 18, 2009. The drop in rates moved progressively higher with the short term six month CD rates up to the five year CD rates which experienced the biggest loss in yield.
The average of the best six month CD rates in New Jersey was down by just one basis point or 1/100 of a percent for the week. The six month rates averaged 1.57%, down from the prior week’s level of 1.58%. The best six month CD rate in Jersey comes from Freedom Bank which offers a six month term bank CD at 1.75%.
The best one year CD rates in New Jersey averaged 2.00% for the week which was drop of four basis points from the previous week’s average of 2.04%. The best one year CD rate is promoted by a whole slew of banks in the Garden state. City national Bank which has a one year CD rate of 2.00% as does Freehold Savings Bank, Parke Bank, Third Federal, RomaBank, Sadddle River Bank and at least a few more banks based in the state of New Jersey.
The two year CDs in New Jersey took a bigger hit on the interest rates offered. The average for the two year CD rates saw the yield drop from last week’s average of 2.44% down to 2.39% at the close of Friday. The best two year CD rates can be found at City National Bank as well as First Bank with both bank offering CD rates with a two year term at 2.50%.
New Jersey CD rates with a five year term so the biggest reduction in yield. The average for the five year CD rates fell from 3.47% to 3.41% or a drop of six basis points on the week. The best five year CD rate in NJ comes from The Bank of Princeton which markets a five year CD rate at 3.55%.
New Jersey CD rates were mostly down for the week with the exception of the two year term CDs. The six month CD rates in New Jersey were hurt the most with the average of the best six month CD rates tumbling 13 basis points or 13/100 or a percent to end the week at 2.14%. The one year CD rates in the Garden State dipped modestly, falling from 2.43% to 2.41%. The two year CD rates bucked the trend and gained two basis points to 2.75%. The average of the five year CD rates held steady with an average rate of 3.51%.
The best six month CD rate in New Jersey was unmoved at 2.52%. This rate is a promotion from Wilshire State Bank that is due to expire at the end of the week. The next best rate drops rather appreciably to 2.20%. Oritani Bank offers the 2.20% rate on their eight month CD. The bank is headquartered in Washington Township and has 21 total bank branches in the region.
The best one year CD rate in New Jersey is promoted by Mutual Bank on their 16 month CD special that has an interest rate of 2.56%. Wilshire State Bank follows that rate with one year CD that yields 2.52%. First Choice Bank is only two basis points behind with a one year CD that earns a rate of 2.50%. The best national rate is currently at 2.53% making New Jersey’s highest one year CD rates very competitive.
Even with the two year CD rates gaining yield for the week, the best two year CD rates are tagging behind the best national rates. The highest two year CD rate in New Jersey is offered by four separate banks. First Bank of Williamstown, NJ offers a two year CD with a rate of 2.75% as does The Bank of Princeton, First Choice Bank and RomAsia Bank. The highest rate is now at 2.75%, the leader was Liberty Bell Bank on their 21 month CD special; however that rate has just recently been reduced.
The top five year CD rates in Jersey are also trailing the best national rates. The Bank of Princeton is the term leader with a five year CD rate of 3.55%. This bank rate is a full 20 basis points below the best national rate. Following The Bank of Princeton’s lead is a four year CD from Metuchen Savings Bank that has an interest rate of 3.53%. The list concludes with several banks in New Jersey offering five year CD rates at 3.50% including; City National Bank, First Bank, Marathon Bank and NVE Bank.
The best CD rates in New Jersey were predominantly unchanged for the week ending June 4, 2009. The average of the best six month CD rates fell by one basis point or 1/100 of a percent to end the week at 2.27%. The average of the best one year CD rates increased by two basis points to 2.43%. The two year CD rates were unchanged at 2.73%. The average of the five year CD rates gained one basis point from 3.50% to 3.51%.
The highest CD rate with a six month CD term is marketed by Wilshire State Bank with an interest rate of 2.52%. Wilshire State Bank makes this CD rate available nationwide and is also the leader on the national rate list for the six month CD rate. The highest one year CD rate can be found at Mutual Bank on their promotional 16 month term CD that has an interest rate of 2.56%. Not far behind that rate is Wilshire State Bank’s one year CD rate of 2.52%.
The best two year CD rate in New Jersey is at 2.79% on an odd term, 21 month CD from Liberty Bell Bank. The second highest two year CD rate is at 2.75% and can be found at First Bank, The Bank of Princeton as well as First Choice Bank. The best five year CD rate comes from The Bank of Princeton with an interest rate of 3.55%. Metuchen Savings Bank has a four year CD rate that two basis points back at 3.53%. Several banks in New Jersey offer five year CD rates at 3.50%.
Certificate of deposit rates in New Jersey experienced minor gains for the week of May 22, 2009. Even with the modest gains only the six month term CD is surpassing the best national rates for the week. The best one year CD rates gained with the introduction of a promotional 17 month CD from Metuchen Savings Bank that has an interest rate of 2.66%. The next best CD rate falls ten basis points or 10/100 of a percent back with a 16 month CD promoted by Mutual Bank that yields 2.56%. The six month CD rates were mostly unchanged with the average rate dropping modestly. The highest six month CD rate remains at The Bank of Princeton with their seven month CD that earns an interest rate of 2.25. RomAsia Bank reduces their six month CD bringing down the average for the top bank CDs in this term category. The best two year CD rates were unaltered with First State Bank continuing to lead the group of banks with a CD rate of 2.80%. The highest five year CD rate was also unchanged but there was added depth top the list of the best bank rates for this term. The best five year CD rate is marketed by The Bank of Princeton at 3.55% while the lowest five year CD rate listed is now only five basis points lower at 3.50%.
The best certificate of deposit rates in New Jersey receive a split decision on their comparison to the best national CD rates. The highest six month CD rate remains above the best national rates along with the highest two year CD rates. Unfortunately, the highest one year CD rates and five year CD rates are lagging the best national rates by a small margin.
First Choice Bank continues to hold the top spot for the best six month CD rate in New Jersey. First Choice’s six month CD has a rate of 2.50% which is well above the best national CD rate offered by Nexity Bank at 2.26%. The next best CD rate of RomAsia Bank remains well behind this offer with its six month CD that yields 2.25%. Five basis points or 5/100 of a percent back is the certificates of Oritani Bank which has introduced an eighth month CD that has an interest rate of 2.20%. Trustco Bank dropped back slightly with their six month CD that continues to have a rate of 2.15%. The list comes to an end with the six month CDs of Mutual Bank at 2.09% and Freedom Bank with an interest rate of 2.05%.
The best one year CD rate in New Jersey is not quite keeping pace with the best national rate, however the rate does remain very competitive. The highest one year CD rate in New Jersey is also a product of First Choice Bank which offers this term CD at a rate of 2.75%. Metuchen Savings Bank follows with a rate of 2.66% on their odd month CD that has a term of 17 months. Liberty Bell Bank stays on the list with an extended term CD that runs 18 months and has an interest rate of 2.53%. Only three basis points behind are two banks, RomAsia and First State Bank, that have one year CDs that earn a rate of 2.50%.
In the best two year CD rate category it turns out to be triple play for First Choice Bank. First Choice leads the state in this category and beats the best national rate by offering a two year CD with a rate of 3.00%. RomAsia Bank stays right behind with a two year CD that yields 2.85%. Liberty Bell Bank has a two year CD that earns a rate of 2.79%. Three basis points back is a two year CD marketed by Mutual Bank with an interest rate of 2.76%. Rounding out the best 2two year CD rates in New Jersey is the 2.75% CDs promoted by First Bank and City National Bank.
The best five year CD rates offered nationally jumped up this week widening the spread with the best five year CD rate in New Jersey. The Bank of Princeton holds the top spot in New Jersey at 3.55% while the Discover Bank holds the top spot nationally with a five year CD rate at 3.70%. One basis point behind Princeton is Millville Savings with a five year CD rate of 3.54%, unchanged from the previous week. Four banks continue to run the same rate for the next spot. Marathon Bank, First Choice Bank, First Bank and City National Bank all have five year CDs with rates set at 3.50%.
The best CD rates in New Jersey lost a fair amount ground compared to the best national certificate of deposit rates. Some of the top CD rate offers have expired while some of the national bank rates have increased. For the first time in some weeks this has left New Jersey banks struggling to stay above the best national rates.
The best six month CD rate in New Jersey remains a hold out. The six month CD of First Choice Bank remains well above the best national rates as well as the competition in New Jersey with an interest rate if 2.50%. The second spot is held by RomAsia Bank and sits at 2.25%, unchanged from the previous week. The remaining banks on the list drop from here. Trustco Bank is now offering a six month CD that has an interest rate if 2.15%. Oritani Bank follows with a six month CD rate of 2.10%. One basis point back is a six month CD from Mutual Bank that yields 2.09%.
The highest one year CD rate in New Jersey is unchanged from the prior week. First Choice Bank leads the pack with a one year CD that has an interest rate of 2.75%. This CD rate is five basis points behind the highest national rate offered by GMAC Bank at 2.80%. Second place in New Jersey also remained steady with Metuchen Savings Bank continuing to promote their 17 month CD with a rate of 2.66%. Liberty Bell Bank follows with a longer term, 18 month CD that has an interest rate of 2.53%. Two banks come up next with two year CD rates at 2.50%; RomAsia Bank and First State Bank.
Even with an increase in the best national two year CD rate, First Choice Bank’s two year CD rate continues to beat the nation rates and lead the state with a rate of 3.00%. RomAsia Bank falls back to second spot after reducing the rate they now offer on their two year CD to 2.85%. Almost 10 basis points behind is the two year CD of Liberty Bell Bank with a yield of 2.79%. Three basis pints behind this rate is Mutual Bank with their two year CD that has an interest rate of 2.76%. Two banks tie for the bottom position, both First Bank and City National Bank offer two year CD rates of 2.75%.
The best five year CD rates continue to struggle to keep pace with the best national bank rates. This week the top rate has been reduced further, widening the spread between the bets national rates and the best state rates. The Bank of Princeton leads the state with a five year CD rate of 3.55%. Millville Savings is only one basis point back with a five year CD rate at 3.54%. Four banks tie for the third position. Marathon Bank, First Choice Bank, First Bank and City National Bank all provide five year CDs that have interest rates of 3.50%.
New Jersey residents continue enjoy the services of banks that are promoting unusually high CD rates. The week to week change in interest rates was mostly uneventful but the state has had higher than normal CD rates across the board for sometime. The best six month CD rate in New Jersey is unchanged and is being offered by First Choice Bank at 2.50%. The next best rate drops down ¼ of a percent to 2.25% and is being promoted by several New Jersey Banks. Included in the list of banks offering a six month CD rate of 2.25% is RomAsia Bank, Oritani Bank, Investors Savings Bank, First Bank and Amalgamated Bank.
The best one year CD rates in New Jersey is also led by First Choice Bank with a one year CD that yields 2.75%. A new comer, Metuchen Savings Bank based in Metuchen enters the top one year CD field with an interest rate of 2.71% for a promotional 17 month term certificate of deposit. Mutual Bank is close behind with an interest rate of 2.62 on their one year CD. RomAsia Bank offers a 2.60% one year CD rate and Liberty Bell Bank plays clean up with an 18 month CD that has an interest rate of 2.53%.
The best two year CD rates in New Jersey saw little change for the week; fortunately the top rates offered in New Jersey exceed the best national rate by 10 basis points. Both, RomAsia Bank and First Choice Bank are promoting two year CDs with interest rates of 3.00%. Liberty Bell Bank is next place with a two year CD rate of 2.79%. Mutual Bank has a two year CD with a interest rate of 2.76% and First Bank as well as City National Bank are marketing two year CDs that yield 2.75%.
This week the best five year CD rates in New Jersey are not keeping pace with the best national rates. Roebling Bank remains on top of the list with a five year CD rate of 3.75%. Millville Savings is in a distant second position with a two year CD that earns a rate of 3.54%. From here, four banks have five year CD rates at 3.50%, these New Jersey banks are Shore Community Bank, First Choice Bank, First Bank and City National Bank.
The best short term CD rates in New Jersey continue to beat the best national rates. The top short term CD rate for the week ending April 17 is a nine moth term CD offered by First Choice Bank. The rate currently promoted on the First Choice Bank CD is 2.50%, 25 basis points above the national rate. Oritani Bank and Freedom Bank are 15 basis points behind with offers for CDs in the six month category at 2.35%. The Oritani Bank CD is for an odd month promotional term of eight months. First Bank and Investors Savings Bank nine month and seven month CDs round out the list with rates that match the national best at 2.25%.
The best one year CD rates in New Jersey run with the best national rates. Union Center National Bank and First Choice Bank both offer CDs in the group with rates at 2.75% on par with GMAC Bank which tops the national list. The Union Center National Bank CD is on an 18 month term. Roma Bank comes up next with an 18 month term that earns a rate of 2.55%. Roma also offers a 15 month at 2.45% and a 13 month at 2.35%. Next is a three why tie between Investors Savings Bank, Freedom Bank and First Bank that all offers CD rates at 2.50%.
Two banks in New Jersey are surpassing the beat national rate in the two year term category that is offered by GMAC Bank. RomAsia Bank and First Choice Bank both offer two year CDs that have rates set at 3.00%, 10 basis points above GMAC Bank. Liberty Bell Bank which has four bank branch locations in the Southern Jersey community has the next best CD rate that yields 2.79%. At the bottom of the list is First Bank and City National Bank with two year CD rates at 2.75%.
The best five year CD rate in New Jersey matches the national rate at 3.75%. This rate is being offered on a five year CD by Roebling Bank which has five locations in and surrounding Roebling, New Jersey. Millville Savings falls in second place with a five year CD rate that is 21 basis points back at 3.54%. First Choice Bank, First Bank and City National Bank all offer CD rates at 3.50%. Mutual Bank is playing clean up with a five CD rate of 3.34%.