Customers bank offers short term cd and money market specials

There are some special rates going on at the Customers Bank. FDIC had arranged for the bank to take up all deposits of the ISN bank. There are especially 2 competitive specials on the home page of the Customers Bank. The two specials includes 2% APY on the 11 month CD and 2% APY on the money market account although the interest for under 10000 dollars is just 1%. The minimum deposit is 500 dollars. There are two downsides with these rates as far as CD rates are concerned. The first one is that these rates are not guaranteed to stay for a fixed period and hence it is better from the customers’ perspective to hurry about it. The other disadvantage is the fact that there is a 5 dollar monthly fee for balances less than 1000 dollars.

There is an online application available for customers. The downside with the online application is the fact that there are only two states available which means residents from Pennsylvania and New Jersey alone can go for the online applications. Although it does business as Customers Bank, the actual name of the bank is New Century Bank and it has a healthy score of 4 out of 5.