Current New York Interest Rates: CD and Savings Accounts

New York is a huge metropolitan area with so much to offer, including financially. New York interest rates vary widely by financial institution, but it’s possible to earn an excellent rate on your balance, whether it’s for a savings account or longer-term deposit like a certificate of deposit. Below is a breakdown of the current interest rates in the city according to account type, as well as where you can find the highest and lowest rates in New York today.

New York, NY CD Rates

2-Year CD

Average Rate: 1.33% APY

Bank with the Lowest Rate– Rockland Employees Credit Union: 0.5% APY

Bank with the Highest Rate– Suma Yonkers Credit Union: 2.02% APY

1-Year CD

Average Rate: 0.91% APY

Bank with the Lowest Rate– Central Jersey Credit Union: 0.26% APY

Bank with the Highest Rate– Suma Yonkers Credit Union: 1.77% APY

6-Month CD

Average Rate: 0.65% APY

Bank with the Lowest Rate– Rockland Employees Credit Union: 0.2% APY

Bank with the Highest Rate– Suma Yonkers Credit Union: 2.02% APY

Savings Interest Rates in New York

Average Rate: 0.55% APY

Bank with the Lowest Rate– Rockland Employees Credit Union: 0.05% APY

Bank with the Highest Rate– Merck Employees Federal Credit Union: 1.64% APY

These rates are accurate as of July 28, 2011, but may change at any time in the future. If you are interested in opening an account with any of the above financial institutions, please contact the bank or credit union directly to verify rates. For the most up-to-date interest rate information, you can visit the New York Savings Rates or New York CD Rates pages.