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Top New Jersey CD Rates

Updated on October 18, 2011

New Jersey, New Jersey, where art thou the good certificate of deposit rates. I sure hope I don't have to cross the Hudson just to find top interest rates. But here they are, you decide.

This first one won't be too helpful. Although, I am a little shocked. Union County Savings Bank based in Elizabeth, NJ was established in 1883. However, I couldn't even find a website for them. They are about $1BB in assets. They have a 3 1/2 star rating. Just hard to fathom a bank that large not having a website in this day and age. FDIC# is 12013. Some places on the web report good rates so it might be worth a yellow page look-up and a call.

Founded in 1911, we come next come across Oritani Bank (FDIC# is 28866).  The bank is located in Township Of Washington.  Their asset size is around $1BB.  As far as special terms go, they have a great rate for a 7-month CD at 1.30%. Too bad you didn't find this site a couple of weeks ago. It was a 1.40%. The 2-year CD is 2.10%.  Uncovering rates above 2.00% can be difficult these days (unless you go out 4 to 5-years). The 5-year is a 2.75% and they are offering a 2.85% special for new IRAs. Bauer gives them 3 1/2 stars.

Speaking of the Hudson River we have Hudson City Savings Bank (FDIC# 13074).  The bank was founded in 1868.  You'll find many of the East-Coast banks hearken back to the 1800s.  Pretty cool, really.  Hudson City is located in Paramus, NJ. The bank is the largest based in New Jersey, with just over $60 Billion in assets.  They have one of the better 5-year CD rates that I've seen, a 3.15% APY.  The bank handles all IRAs, Traditional, Roth, SEP, and SIMPLE.  Sadly not a lot of banks do SEPs, and SIMPLEs.  They earned Bauer's coveted 5-star rating.

Down the road a little, we find First Choice Bank. My first question, is it the first, Choice Bank, or the First Choice Bank. There are two other First Choice Bank's in the US and both are slightly older. Anyway, they are fairly new, being established in 2007. They are based in Lawrenceville and have 4-stars from Bauer. They have a 1-year CD at 1.50% APY which is in-line with other banks. The 5-year is 3.00%. Their FDIC# is 58471.

Select Bank (FDIC# 35512) is located in Egg Harbor City,NJ. They have a competitive 1-year CD at 1.50% APY and a 2Y at 2.00% APY.  Unfortunately their other rates aren't all that good when compared to other banks.  They are newer to the scene with a start date of 2000.  Bauer gives them a 3-star rating.

Here are a couple of credit unions also.  Credit Unions hare federally insured by the NCUA.  Quorum Federal Credit Union isn't actually headquartered in New Jersey, but have operations in Newark and Easthanover.  Bauer has given them their highest rating of 5-stars. TheNCUA# is 22769. The credit union has a "special" at 1.25% for an 11-month CD.  Although, it really isn't that great of a rate. Of course if for various reasons you are limiting your CDs to certain areas it just might be what you are looking for. They are paying 2.75% for a 5-year CD.

If you are looking for huge credit unions check out Navy Federal Credit Union. Although membership is limited to the military and families. They have some pretty good rates though so check them out. They have a $3000 maximum deposit CD for a 1-year term at 3.25%. This is for IRAs only. Great for 2009 IRA contributions. They also have a 30-month IRA CD at 2.75%. Their 5-year CD for $100,000 and larger is 3.15%. They have a 4-star rating from Bauer. Their NCUA # is 5536. They are $39BB in assets. Wow!

And sorry, but we have to leave a disclaimer. Although we strive for accuracy, mistakes are made. Please verify all federal insurance, rates, and ratings at any institution that you want to make deposits with.

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