Highest New York 24-Month CD Rates: September 2011
It seems as though interest rates on deposit accounts are just getting worse and worse, which makes finding a competitive CD rate feel near impossible. Luckily, there are still financial institutions in the area that are providing excellent CD rates if you know where to find them.
This is especially true for 24-month CDs in , which tend to offer the best rates.
About 24-Month Certificates of Deposit
Certificates of deposit come in several terms, which refers to the amount of time your money remains on deposit. A 24-month CD is considered to be longer-term than other accounts. There are a number of reasons why you may go with a longer term of 24 months.
The top reason, however, is that a long-term CD generally allows you to obtain a higher interest rate. This is because banks and credit unions try to encourage account holders to keep their funds on deposit longer.
That means a 24-month CD is a great choice if you are interested in earning a better rate than a savings account can provide and–most importantly–you can afford to keep your money on deposit for a full 2 years.
Best 24-Month CD Rates
If you’re interested in opening a 24-month CD account near you that also offers a competitive rate, check out the banks and credit unions below:
[accountlist type=”24″ order=”desc” count=”5″ bankname=”on”]
The above rates are accurate as of 9/7/11, but may change at any time in the future. Please contact individual financial institutions directly to verify rates and learn about an additional requirements.