Deal Summary

$1,000 minimum opening balance, 3-month to 5-year terms, highest APY rate 1.75%

Oritani’s Top CD Rates

The minimum balance required to open a CD and start earning dividends with Oritani Bank is $1,000.

They have short and long term tiers available from 3-months to 60-months.

3-month CD’s earn 0.25%, 6-month terms earn 0.50%.

12-month CD’s earn 1.00% APY.

19-24 month CD’s earn 1.25% APY.

30-month terms earn 0.90%.

36-month terms earn 1.25%.

48-month terms earn 1.50%.

60-month terms earn 1.75%.

There are penalties for withdrawing funds before the account maturity.

For terms less than 12-months the penalty is three months of interest and for terms one-year or longer the penalty is 6-months of interest.

Dividends are compounded daily and added to the account balance monthly. Upon maturity of the CD the balance will either be automatically deposited to another account or will renew to keep earning.

They have several promotional CD’s as well. These also have a minimum deposit of $1,000 and a fixed APY. With the loyalty CD you earn higher interest rates, starting at 1.50% for short terms and 2.00% for the longest term.

Availability

To open a CD with Oritani you must visit a branch in person. You do not have to live in New Jersey to open a CD, but you will have to visit a branch so it is not very accessible for out-of-state customers. To become a member of Oritani call, go online, or visit a branch. They were bought out by Valley National Bank which operates in New York, Alabama, New Jersey, and Florida.

Branches in New Jersey

Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Passaic

Branches in Alabama

Birmingham, Elmore, Montgomery, Tallapoosa

Branches in Florida

Brevard, Broward, Collier, Duval, Hilsborough, Indian River, Lee, Miami-Dade, Orange, Palm Beach, Pinellas, Polk, Sarasota, Seminole, St. John’s

Branches in New York

Kings, New York, Nassau, Queens, Suffolk

Bank Overview

Oritani was established in 1911 in New Jersey. They were originally known as the Oritani Savings and Loan Association. In the 1990’s they changed their name to Oritani Savings Bank. They are a federally insured bank. In 2008 they shortened their name to just Oritani Bank. They were purchased and merged with Valley National Bank in 2019. They now have a headquarters located in Passaic, NJ and have branches in Alabama, New Jersey, Florida, and New York. At the time of the merger Oritani had over $3 billion in assets.

The merger of Oritani and Valley Bank made the financial services more accessible for members. Valley National Bank is based out of New Jersey, but has branches in four states. You can find ATMs anywhere in America. Valley National Bank also has a user-friendly website and mobile banking application. Valley is devoted to wellness of their members finances and offers competitive rates on financial services. They treat their members and employees with respect. Today they have over 200 branches and manage over $42 billion in assets.

$1,000 minimum opening balance, 3-month to 5-year terms, highest APY rate 1.75%

Oritani’s Top CD Rates

The minimum balance required to open a CD and start earning dividends with Oritani Bank is $1,000.

They have short and long term tiers available from 3-months to 60-months.

3-month CD’s earn 0.25%, 6-month terms earn 0.50%.

12-month CD’s earn 1.00% APY.

19-24 month CD’s earn 1.25% APY.

30-month terms earn 0.90%.

36-month terms earn 1.25%.

48-month terms earn 1.50%.

60-month terms earn 1.75%.

There are penalties for withdrawing funds before the account maturity.

For terms less than 12-months the penalty is three months of interest and for terms one-year or longer the penalty is 6-months of interest.

Dividends are compounded daily and added to the account balance monthly. Upon maturity of the CD the balance will either be automatically deposited to another account or will renew to keep earning.

They have several promotional CD’s as well. These also have a minimum deposit of $1,000 and a fixed APY. With the loyalty CD you earn higher interest rates, starting at 1.50% for short terms and 2.00% for the longest term.

Availability

To open a CD with Oritani you must visit a branch in person. You do not have to live in New Jersey to open a CD, but you will have to visit a branch so it is not very accessible for out-of-state customers. To become a member of Oritani call, go online, or visit a branch. They were bought out by Valley National Bank which operates in New York, Alabama, New Jersey, and Florida.

Branches in New Jersey

Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Passaic

Branches in Alabama

Birmingham, Elmore, Montgomery, Tallapoosa

Branches in Florida

Brevard, Broward, Collier, Duval, Hilsborough, Indian River, Lee, Miami-Dade, Orange, Palm Beach, Pinellas, Polk, Sarasota, Seminole, St. John’s

Branches in New York

Kings, New York, Nassau, Queens, Suffolk

Bank Overview

Oritani was established in 1911 in New Jersey. They were originally known as the Oritani Savings and Loan Association. In the 1990’s they changed their name to Oritani Savings Bank. They are a federally insured bank. In 2008 they shortened their name to just Oritani Bank. They were purchased and merged with Valley National Bank in 2019. They now have a headquarters located in Passaic, NJ and have branches in Alabama, New Jersey, Florida, and New York. At the time of the merger Oritani had over $3 billion in assets.

The merger of Oritani and Valley Bank made the financial services more accessible for members. Valley National Bank is based out of New Jersey, but has branches in four states. You can find ATMs anywhere in America. Valley National Bank also has a user-friendly website and mobile banking application. Valley is devoted to wellness of their members finances and offers competitive rates on financial services. They treat their members and employees with respect. Today they have over 200 branches and manage over $42 billion in assets.