Hudson City Bank CD Rates

By: EconomyWatch Content Team   Date: 24 July 2010

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The Hudson City Bank is considered to be “The Most Efficient Bank in America” because its operating costs are a great deal less than the costs found at other financial institutions of its kind. For that reason it is able to offers its valued customers low fees, competitive mortgage rates and higher deposit yields in the metropolitan area it works out of. For three years in a row- 2007, 2008 and 2009- Forbes named Hudson City “The best managed bank in America.” That is quite a compliment for any financial establishment!

Whether you are looking for deposits, consumer loans or mortgages then you have found it in Hudson City. Take a look at the current Hudson City CD rates and you will see for yourself! The market areas for this bank are New York, New Jersey and Connecticut. The interest rate disclosed is from the New York market area. Be aware that the rate may vary by region. To keep up-to-date on the most current rates either visit a branch closest to where you reside or go online and visit the Hudson City website.

A certificate of deposit is a fantastic way to begin saving the money you have worked hard to earn! It offers security thanks to the insurance offered by the FDIC. It also offers a return on your investment (ROI). The bank will pay you interest when you opt to save your money in a certificate of deposit account. The interest you earn is expressed as the annual percentage yield (which is often abbreviated to APY). An other benefit of CDs includes the security of knowing that your money is earning you more money which means that you have a known income. The flexibility of terms offered is another big advantage that attracts many investors to this reliable choice.

In order to open a CD with Hudson City, the bank that believes in better values, you must provide a minimum deposit of $500. There is a penalty for the early withdrawal of money from the certificate.

Here are the current Hudson City CD rates (that are effective as of July 16, 2010):

•    91 Day CD (3 Months) – Rate of 0.996%, APY of 1.00%
•    4 Month CD- Rate of 0.995%, APY of 1.00%
•    5 Month CD- Rate of 0.995%, APY of 1.00%
•    6 Month CD- Rate of 1.047%, APY of 1.05%
•    7 Month CD- Rate of 1.094%, APY of 1.10%
•    9 Month CD- Rate of 1.143%, APY of 1.15%
•    1 Year CD- Rate of 1.225%, APY of 1.25%
•    13 Month CD- Rate of 1.225%, APY of 1.25%
•    18 Month CD- Rate of 1.468%, APY of 1.50%
•    2 Year CD- Rate of 1.953%, APY of 2.00%
•    30 Month CD- Rate of 1.953%, APY of 2.00%
•    3 Year CD- Rate of 2.195%, APY of  2.25%
•    4 Year CD- Rate of 2.676%, APY of 2.75%
•    5 Year CD- Rate of 2.916%, APY of 3.00%

All of the terms for the CDS have a daily compound method with the exception of the 91 day CD and the 6 month CD. Visit the website to learn more- http://www.hcsbonline.com/. 

 


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