Bank Reviews

Astoria Federal Savings Review, Rates: CDs, Savings, Money Market, Mortgage

Astoria Federal Savings is a proud leader along the greater Long Island community with 85 banking offices and 117 ATMs through Brooklyn, Queens, Nassau, Suffolk and Westchester counties. They also provide home financing in 12 states and the District of Columbia. Astoria Federal Savings’ motto is “putting people first” and they do this by remembering that banking is a highly personal business.

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For more than 120 years, Astoria Federal Savings has been offering strength and stability through their services and employees. They support local communities through their unique Team Astoria. This team helps support the communities they serve and 1,800 employees are making a difference everyday. Team Astoria has supported the Brooklyn Cyclones, the construction of a new Habitat for Humanity home on Long Island and gathered school supplies for children in need through their Kids Tools for School program.

Many different banking services are provided by Astoria Federal Savings. They have everyday banking, borrowing, small business and planning or protection services. An array of checking accounts are offered to customers and each account holds different amenities and abilities it can do. Astoria Federal Savings offers Easy Checking, Express Checking, Ultra Checking and Gold Checking. The amount of savings account does not necessarily compare to the amount of checking accounts; however, Astoria Federal Savings has different accounts to help you reach your financial goals. They have their Passbook Savings, Insured Money Maker and Holiday Club account. Astoria Federal Savings provides CDs and IRAs as well with varying terms and rates.

Whether it is for a business, borrowing or protecting your finances, Astoria Federal Savings provides you the best service possible with their knowledgeable staff and varying accounts.

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The regular CD accounts can be opened with as low as $500; however, there are some that require a different opening deposit. The 3 Month Liquid CD requires a $5,000 deposit and the 1 ½ Year Variable IRA asks for a $100 opening deposit.

The Jumbo CDs are designed for those with larger balances. Each Jumbo CD account can be opened with a minimum $100,000 opening deposit. Astoria Federal Savings offers one Callable CD at a minimum opening deposit of $20,000.

Astoria Federal Savings: Regular CDs – as of 10/01/11

  • 3 Month – 0.10% Interest Rate – 0.10% APY
  • 3 Month Liquid CD – 0.10% Interest Rate – 0.10% APY
  • 4 Month – 0.10% Interest Rate – 0.10% APY
  • 6 Month – 0.15% Interest Rate – 0.15% APY
  • 9 Month – 0.20% Interest Rate – 0.20% APY
  • 1 Year – 0.25% Interest Rate – 0.25% APY
  • 15 Month – 0.25% Interest Rate – 0.25% APY
  • 1 ½ Year – 0.40% Interest Rate – 0.40% APY
  • 2 Year – 0.40% Interest Rate – 0.40% APY
  • 2 ½ Year – 0.50% Interest Rate – 0.50% APY
  • 3 Year – 0.50% Interest Rate – 0.50% APY
  • 3 ½ Year – 0.75% Interest Rate – 0.75% APY
  • 4 Year – 1.24% Interest Rate – 1.25% APY
  • 5 Year – 1.49% Interest Rate – 1.50% APY
  • 1 ½ Year Variable IRA – 0.15% Interest Rate – 0.15% APY

Astoria Federal Savings: Jumbo CDS – as of 10/01/11

  • 30-45 days – 0.05% Interest Rate – 0.05% APY
  • 46-75 days – 0.10% Interest Rate – 0.10% APY
  • 76-105 days – 0.15% Interest Rate – 0.15% APY
  • 106-135 days – 0.15% Interest Rate – 0.15% APY
  • 136-165 days – 0.15% Interest Rate – 0.15% APY
  • 166-269 days – 0.25% Interest Rate – 0.25% APY
  • 270-359 days – 0.30% Interest Rate – 0.30% APY
  • 360-364 days – 0.40% Interest Rate – 0.41% APY
  • 365+ days – 0.50% Interest Rate – 0.50% APY

Astoria Federal Savings: Callable CDs – as of 10/01/11

  • 10 Year – 1.73% Interest Rate – 1.75% APY

Terms & Conditions: Fees charged on some accounts may reduce your earnings. Early withdrawal penalties apply on CD accounts. Consult with bank for the most current rates and terms.

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The Passbook Savings account is ideal for those who like to save in a traditional manner. The interest on the account is compounded daily and credited on a quarterly basis. You can receive your account information via phone 24 hours a day.

The Statement Savings account provides a great way to save for the basic saver. The interest is compounded daily and credited on a monthly basis. You are given 24-hour access to your account through the telephone or ATM.

Both savings accounts can be opened with a low minimum deposit of $500.

Astoria Federal Savings: Passbook Regular Savings Account – as of 10/01/11

  • 0.25% Interest Rate – 0.25% APY

Astoria Federal Savings: Statement Regular Savings Account – as of 10/01/11

  • 0.25% Interest Rate – 0.25% APY

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Astoria Federal Savings has the Insured Money Maker as their primary money market account. It offers easy access and exclusive check writing privileges. The Insured Money Maker features tiered interest rates, so the higher your balance goes, the higher your rates will go as well.

The Insured Money Maker can be opened with $2,500 and the interest earned on the account is compounded daily and credited on a monthly basis. You are allowed to make unlimited withdrawals and transfers in person at any Astoria Federal Savings branch or ATM.

Astoria Federal Savings also offers the BusinessOne Preferred Money Market account.

Astoria Federal Savings: Insured Money Maker – as of 10/01/11

  • $0-$9,999 – 0.10% Interest Rate – 0.10% APY
  • $10,000 – $49,999 – 0.25% Interest Rate – 0.25% APY
  • $50,000 and more – 1.04% Interest Rate – 1.05% APY

Astoria Federal Savings: BusinessOne Preferred Money Market Account – as of 10/01/11

  • $0-$24,999 – 0.25% Interest Rate – 0.25% APY
  • $25,000 and over – 0.50% Interest Rate – 0.50% APY

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Astoria Federal Savings would like to eliminate the confusion when it comes to the home buying process. They can help whether you are buying your first home or trading up, purchasing a vacation home or investment property or refinancing your current mortgage. They offer great advice and tips located on their site and you can begin the process right then and there.

Astoria Federal Savings: Fixed Rate Conforming Rates – as of 9/30/11

  • 30 Year – 4.000% Interest Rate – 4.107% APR
  • 15 Year – 3.250% Interest Rate – 3.436% APR

Astoria Federal Savings: Fixed Rate Jumbo Rates – as of 9/30/11

  • 30 Year – 4.750% Interest Rate – 4.861% APR
  • 15 Year – 3.625% Interest Rate – 3.813% APR

Astoria Federal Savings: Fixed Rated Affordable Housing Program – as of 9/30/11

  • 30 Year – 3.875% Interest Rate – 4.440% APR

Astoria Federal Savings: SONYMA Achieving the Dream Program – as of 9/30/11

  • 4.500% Interest Rate – 4.610% APR

Astoria Federal Savings: Adjustable Rate Mortgage Rates – as of 9/30/11

  • 5/1 Year ARM – 2.875% Interest Rate – 2.726% APR
  • 7/1 Year ARM – 3.250% Interest Rate – 2.923% APR
  • 10/1 Year ARM – 4.000% Interest Rate – 3.475% APR

Astoria Federal Savings: ARM Affordable Housing Program – as of 9/30/11

  • 5/1 Year ARM – 2.375% Interest Rate – 3.206% APR

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