New York Community Bank is part of a network of branches and may go by different branch names throughout the state such as Queens County Savings Bank (its original name which changed in 2000) or Ohio Savings Bank, but these branches are all owned and managed by the parent bank New York Community Bank. They changed their name to be more inclusive as they expanded beyond Queens, New York.

Apart from the branch access, the CD rates terms and rates remain the same to ensure financial stability. Let’s learn more details about the official Certificate of Deposit rates in the section below for fixed savings.

NY Community Bank CD Rates Offers

The NY Community Bank CD Rates are;

7-Month CD

  • Term: 7 months
  • Minimum Deposit: $500
  • APY: 5.50%


  • Enjoy a high Annual Percentage Yield, providing a strong return on your investment.
  • The shorter term allows for quicker access to funds compared to longer-term CDs.

Pros & Cons

Short-term commitmentLimited time for interest to accrue
Accessible entry pointLower APY compared to longer terms

13-Month CD

  • Term: 13 months
  • Minimum Deposit: $500
  • APY: 5.15%


  • Offers a competitive APY, allowing for potentially higher returns compared to shorter-term options.

Pros & Cons

Balanced duration (over a year)Longer commitment than 7-month CD

Are NY Community Bank CD Rates Competitive?

On the discussion level of competitiveness, NY Community Bank offers a plethora of CD options that are precisely tailored to diverse investment needs.

With a 7-month CD boasting a high 5.50% APY, it provides a short-term, accessible entry point for investors seeking quick returns.

The 13-month CD maintains the same impressive 5.50% APY, striking a balance between stability and a moderate commitment.

For those considering a longer horizon, the 24-month CD, though featuring a slightly lower 4.00% APY, provides a stable and competitive return, making it an attractive option for medium-term investors.

With accessible minimum deposits and competitive rates across terms, NY Community Bank’s CD offerings showcase a commitment to meeting the financial goals of a broad range of investors.

Overview NY Community Bank 

NY Community Bank is one of the largest banks in the US, managing $50 billion in assets as of 2017 and continuing to grow to this day. They specialize in multifamily loans and commercial real estate lending but offer a comprehensive list of financial services for families, small businesses, and corporations. They were chartered by the state of New York and founded in Westbury, New York in 1859, making this bank over 150 years old as of 2021. Most of their real estate lending happens in the state of New York.

They merged and purchased with other banks throughout America which is how they came to own and operate a network of branches in five different states including both Ohio and Arizona. Of the large network of branches, 206 of them are open 6 days a week. Members can get 24-hour banking services through online banking, mobile banking, and phone banking. NY Community Bank ATMs are also available 24-hours.

To get involved with their community, NY Community Bank hosts financial literacy learning events, provides scholarships, helps to build neighborhoods, and volunteers throughout their community. They partner with local organizations, people, and companies to create learning and growth opportunities within the communities that they serve in five different states.


To be eligible for the two CD products offered through NY Community Bank you must first be a member. NY Community Bank has branches in several states. You can visit a branch in person, call, or sign up online for membership with the bank. Ask about what CD specials they have currently available to get the best CD rates.

Locations NY Community Bank 

Branches in New York

NY Community Bank has over 395 branch locations across America, including the states of New York, Ohio, Florida, New Jersey, and Arizona. They are headquartered in Hicksville, New York, U.S.

There are 127 branches in New York, 41 branches in New Jersey, 26 branches in Florida, and 14 branches in Arizona.

Frequently Asked Questions

What is the minimum deposit required for NY Community Bank’s 7-month CD?

The minimum deposit for the 7-month CD at NY Community Bank is $500, providing an accessible entry point for investors.

Can I access funds before the maturity date on these CDs?

While CDs generally have fixed terms, the 7-month and 13-month CDs at NY Community Bank offer relatively shorter commitments, allowing for quicker access to funds compared to the 24-month CD.

Are there any penalties for early withdrawal from NY Community Bank CDs?

Like most of the other CD bank options, early withdrawal penalties apply for NY Community Bank.

How frequently does NY Community Bank update its CD rates?

The decision to change relies on the finance market horizon and these changes are immediately published on the official website for real-time updates on CD rates.