Deal Summary

7-month certificate with a $500 minimum deposit and fixed APY of 0.35%, APY remains fixed until maturity, fees for early withdrawals apply

NY Community Bank’s Top CD Rates

NY Community Bank has two CD options available. The best rate is for the 7-month CD which has a minimum balance of $500 and an interest rate/APY of 0.35%. This is paid out upon maturity.

The other CD option available is for a 3-month term and requires a $2,500 minimum opening balance to earn APY dividends. This short term tier pays out 0.20% in interest, to be compounded and credited at the maturity of the CD.

No further deposits or withdrawals are allowed after opening the initial CD account. There can be substantial penalty fees applied for early withdrawal.


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.

Branches in New York

NY Community Bank has over 242 branch locations across America, including the state of New York, Ohio, Florida, New Jersey, and Arizona. They are headquartered in Westbury, New York. There are 127 branches in New York, 41 branches in New Jersey, 26 branches in Florida, and 14 branches in Arizona.

Bank Overview

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 multi-family loans and commercial real estate lending, but offer a comprehensive list of financial services for families, small business, and corporations. They were charted 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.

New York Community Bank is a part of a network of branches and may go by different branch names throughout the state such as Queens County Savings Bank (it’s 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.

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.