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Flushing Bank CD Rates for 2024

Review Updated
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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

Based out of New York City, Flushing Bank stands out as a strong contender among top-paying CD providers nationwide. While it doesn't have many CD terms, the APYs that it does offer are attractive and hard to beat.

Below we'll take a look at Flushing Bank CDs and see if they're the best place for your money.

Flushing Bank CD rates for 2024

Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Offer image for Flushing Bank CD
Flushing Bank CD
MINIMUM DEPOSIT $1,000
3 Mo. APY 9 Mo. APY 1 Yr. APY 2 Yr. APY
4.50% 3.75% 3.85% 3.50%

Is a high-yield savings account a better option for you?

A high-interest savings account offers rates competitive with the best CDs accounts, but without having to lock your money away for months or even years at a time. Here are some top-rated high-yield savings account options from our experts.

Account APY Promotion Next Steps
3.80%
Rate info Circle with letter I in it. 3.80% annual percentage yield as of December 27, 2024. Terms apply.
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

up to 4.00%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
3.80%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

Compare Flushing Bank CD rates

For a local bank in New York City, Flushing Bank's CD rates are high enough to compete with larger institutions. For perspective, here's how Flushing Bank CDs stack up against the competition.

Rates as of Dec. 18, 2024
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 4.00% Term: 1 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 4.25% Term: 10 Months Min. Deposit:  $2,500
Open Account for

On Secure Website.

Member FDIC.
APY: 4.25% Term: 6 Months Min. Deposit:  $500
Open Account for

On Secure Website.

Flushing Bank CD review

Unlike other banks, Flushing Bank doesn't have a variety of CD types, like no-penalty or jumbo CDs. Instead, it offers one personal CD for all clients. Let's take a closer look at its fine print.

Flushing Bank Personal CD

PROS

  • Competitive APY
  • FDIC insured
  • No account fees
  • Interest withdrawal option

CONS

  • Limited term lengths
  • $1,000 minimum deposit

Flushing Bank's CD comes with two terms -- 12 and 15 months -- and requires a minimum opening deposit of $1,000. Interest will be compounded every day and credited to your account monthly. Unlike some CD providers, Flushing Bank will let you withdraw this interest after it has been credited to your account.

The headliner perk on this CD is its high APY, which bests most national banks and can compete with digital ones. The downside is its lack of CD terms. With only two terms to choose from, you can't build an extensive CD ladder.

Like other CDs, the Flushing Bank CD has an early withdrawal penalty. The penalty is equal to six months of interest and it will be imposed regardless of if you've had your CD for six months or not. That's pretty standard for CDs, though it's something to consider if you're wavering between CDs and a high-yield savings account.

All in all, the Flushing Bank CD combines a high APY with a decently long term to offer you a good deal. If you're certain a CD is the right savings product for you, take a closer look at Flushing Bank and compare it with other top-paying CD providers.

Who is a Flushing Bank CD right for?

A Flushing Bank CD is right for savers who want to earn the most interest on their savings. It's also great for those who have a decent amount of savings, or at least enough to meet the $1,000 minimum opening deposit.

Bottom line: Flushing Bank CD rates

Flushing Bank CD
  • 3 APY: 4.50%
  • 9 APY: 3.75%
  • 12 APY: 3.85%
  • 24 APY: 3.50%
Show All Rates [+] Hide All Rates [-]
Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Term
Flushing Bank CD
3 Mo.
9 Mo.
1 Yr.
2 Yr.
4.50%
3.75%
3.85%
3.50%

Our CDs methodology

At Motley Fool Money, certificates of deposit (CDs) are rated primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

Learn more about how Motley Fool Money rates bank accounts.

FAQs

  • Withdrawing money early means you will either dip into the principal or forfeit a portion of interest, depending on when the withdrawal is made.

  • You should get a Flushing Bank CD if earning interest is important to you, and you've considered the reasons for and against locking your money up for the near term. It's not a great choice, however, if you want to build a CD ladder, as the bank only offers two terms.

  • For many savers, the high APY on a Flushing Bank CD makes it worth locking their savings for the near term.