3.15% APY Best interest rate for 48-month CD with Hudson City Savings, other money in the bank deals offered nationwide
Posted on January 27th, 2010
Hudson City Savings Bank is still pushing for their top cd rates being offered for their long-term certificate of deposits. The current cd rates dropped by a few bases points but remain to be very competitive in the current market. Here are the latest interest rates from the bank’s website:
3.40% APY 60 months
3.15% APY 48 months
2.80% APY 36 months
2.30% APY 24 months
The certificate of deposits rates for the 3-year and 2-year CD are on the front page of the website. You need to click on the application and go to the interest rates link to see the complete list of the yields. You can enjoy these cd rates when you open an account with an initial funding of $5,000.
The top interest rates for these CDs will be locked when you submit your application online. Take note that the cd rates are often updated or changed on Fridays. You may inquire for the latest figures through their customer service line 1866-881-4272.
Interest Rates and Penalties
There are some issues that some of our readers tipped us. The earnings of the CDs are credited to the account at the end of every month so you need to plan carefully when you will close an account since if you close too early you might not just end up losing 6 months of interest (If you have a CD that matures after over a year) plus the accrued earnings of the month. It might be wise to close the account at the beginning of the month.
Early withdrawal is another issue. When you take out money from your account, you need the consent of the bank and they have the right to refuse such transactions. Certificates with maturities of a year or shorter will cost you 3 months of interest while longer term CDs will charge 6 months of earnings. The bank may also impose stiffer early withdrawal penalties.
About the Bank
Hudson City Savings Bank is a big financial institution with about $58 billion in assets. They have about 121 branches spread across New York, New Jersey, and Connecticut.
The ratings of the bank remain to be strong with 5 stars coming from BauerFinancial for soundness and safety. Bankrate.com issued 4 stars for performance. These figures were based on the September and June 2009 data, respectively. The bank is covered by the FDIC under certificate number 13074.
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- 3.50% APY for 48-month Certificate of Deposit, 2.40% APY for 24-month, other CD rates with Terrabank
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Tags: City Savings, Hudson City, Hudson City Savings, Offered
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