New York Banking Rates

Study: New York City Banks and Credit Unions with the Best Interest Rates

Some believe that local New York City interest rates are a reflection interest rates in general. To help depositors learn whether or not this statement is valid, GoBankingRates’ latest local interest rate study evaluates the average deposit rates of New York City, state and national rates to provide a comparison of interest rates in each state.

The study reviews interest rates today in the Top 50 U.S. states based on population, and reveals average interest rates on financial products like certificate of deposits and savings accounts. In an effort to make the search for the best interest rates even easier for New York City residents, the study reveal the top 10 financial institutions in the city offering the highest savings account rates today.

National Average Rates

  • 6-Month CD: 0.30% APY
  • 1-Year CD: 0.45% APY
  • 2-Year CD: 0.66% APY
  • Savings Account: 0.21% APY

New York State Average Rates

  • 6-Month CD: 0.36% APY
  • 1-Year CD: 0.52% APY
  • 2-Year CD: 0.75% APY
  • Savings Account: 0.26% APY

New York City Average Rates

  • 6-Month CD: 0.42% APY
  • 1-Year CD: 0.64% APY
  • 2-Year CD: 0.88% APY
  • Savings Account: 0.31% APY

charts & graphs>new york city banks

Top 10 Savings Rates in New York City, New York

Institution Savings Rate
University Settlement Federal Credit Union 1.50
Spring Bank 0.75
Habib American Bank 0.65
Education Affiliates Credit Union 0.55
Esquire Bank 0.55
Montauk Credit Union 0.50
Nbc (N.Y.) Employees Credit Union 0.50
Progressive Credit Union 0.50
Ukrainian National Federal Credit Union 0.40
Intervest National Bank 0.30

About This New York City Interest Rates Study

Interest rates used in this New York City study are compiled from GoBankingRates’ database of more than 4,000 local, national and online banks and credit unions.

All rates are based on institutions’ online published rates as of February 28, 2013 and assume consumers will provide an opening deposit or maintain a minimum balance amount of $10,000. Please note that rates are subject to change at any time at the discretion of individual New York City banks and credit unions, and rates may have changed since this date.