Gibraltar Bank offers the best CD rates for terms of less than one year. Their 7 month CD has an interest rate of 4.10%. The bank also offers a 13 month CD that has an eye popping rate of 4.25% which is the highest CD rate in New Jersey for that term. However in our tables of the best CD rates by state, we group all one year bank CD offers that have terms between 12 months to 18 months. The bank with the best CD rate in that category is Mutual Bank. Mutual Bank has a 16month CD that pays a rate of 4.30%.
The minimum deposit for the two CDs from Gibraltar Bank is $2,500.00. The bank website promotes its business this with information, “Our goal is to keep it simple and to the benefit of our customers. We offer lower minimum balances to qualify for higher interest rates on time accounts, savings accounts, and interest bearing checking accounts. We maintain our service charges and fees lower than our competitors, to the benefit of our customers. Gibraltar Savings Bank, FSB. Offering excellent rates and convenient services since 1909, with brick and mortar branch offices that take deposits and make loans in the state of New Jersey.”
The rate and product information was updated November 26, 2008. The banks web address is www.gibraltarbanknj.com. The bank can be reached by phone at 888-472-1819.
