• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
APY GUY: Maximize Your Savings & Earnings

APY GUY: Maximize Your Savings & Earnings

  • CD Rates
  • Savings Accounts
  • Checking Accounts

Columbia Bank

Columbia Bank CD Rates – Now up to 4.80% APY!

Written by: editorial staff
Fact Checked : Dan Nelson
Updated September 1, 2023

Columbia Bank, based out of Fair Lawn, New Jersey is a regional bank with 60 branches and 3 lending offices throughout the state of New Jersey. They were founded in 1927 and hold roughly $9.8 billion in assets.

Despite operating mostly in New Jersey, Columbia Bank has a handful of CDs (certificates of deposit) with slightly above average yields that can be opened by anyone online throughout the country.

They have 9 standard CDs and 1 promotional “Bump Up” CD. You can open these CDs as stand alone accounts or within an IRA (individual retirement account). The interest rates provided on Columbia Bank’s IRA CDs are the same as their standard CDs.

To see if Columbia Banks’ CD rates are right for you, continue reading our review.

Columbia Bank CD Rates + Account Details

image credit: columbiabankonline.com

All of Columbia Bank’s CDs come with a minimum deposit requirement of $500. Columbia Bank is member FDIC and all deposit accounts are federally insured up to the applicable limits.

CD rates surveyed on September 1, 2023.

CD Rates

CD TermAPY
4 months4.20%
9 months4.70%
12 months2.25%
18 months4.80%
20 month Bump CD3.00%
24 month3.30%
36 month3.30%
60 month3.30%
72 month3.30%
APY = Annual Percentage Yield

The 20 month Bump Up CD allows you to make a one-time rate increase during the life of this CD. You can increase it anytime Columbia Bank increases the yield for this account.

📌 Please Note: The 60 month and 72 month CD options can not be opened online. All the remaining terms can.

To put these yields into perspective, the national average for 12 month CDs and 60 month CDs sits at just 1.76% and 1.41% APY, respectively, according to FDIC data.

That said, top yields from online banks and nationally available credit unions are now inching above the 5.50% APY and 4.50% APY mark for the same respective terms.

How Do Columbia Bank CD Rates Compare?

The table below shows the best CD rate offered at Columbia Bank compared to the best CD rates offered by other FDIC-insured banks.

BankBest CD Rate (APY)
HomeStreet Bank4.65%
Morgan Stanley5.37%
PNC Bank5.00%
Santander Bank5.50%
Columbia Bank4.80%
CD rates surveyed on September 1, 2023.

How Much Can You Make with a Columbia Bank CD?

The amount of money you can earn with a CD from Columbia Bank is going to depend on your deposit size, the term you choose and its going APY. Take a look at the table below. It shows potential earnings on a handful of Columbia Bank’s CDs assuming a deposit size of $25,000.

CD TermAPYEarnings
4 months4.20%$345.21
9 months4.70%$876.17
18 months4.80%$1,821.43
60 months3.30%$4,406.38
Earnings = Sum of all interest payments through maturity.

IRA CD Rates

Columbia Bank’s IRA CDs also come with a minimum deposit requirement of $500 and cannot be opened online. Visit a local branch or give them a call at 1(800) 522-4167 to get started with an IRA CD.

CD TermAPY
4 months4.20%
9 months4.70%
12 month2.25%
18 month4.80%
24 month3.30%
36 month3.30%
60 month3.30%
72 month3.30%
APY = Annual Percentage Yield

The yields on the IRA CDs are the exact same as their standard CDs, however, we should note that Columbia Bank’s IRA CDs have provided better rates in the past than their standalone counterparts.

Compounding and Crediting Interest

Interest on all of Columbia Bank’s CDs are compounded monthly and credited to your account monthly.

Grace Period and Early Withdrawal Fees

When your Columbia Bank CD matures you will have a 7 calendar-day grace period in which you may close out the CD or change the terms and/or deposit amount. If nothing is done during this 7 day window, your CD will automatically renew into a new CD with the same term and the going rate at that time.

If you need your CD’s funds prior to its maturity you will incur an early withdrawal fee. The fee is based on your CD’s term. See fee structure below:

CD TermFee
5 months or less45 days of simple interest
6 – 11 months90 days of simple interest
12 – 23 months180 days of simple interest
24 – 59 months270 days of simple interest
60 months +365 days of simple interest

How to Open and Fund a Columbia Bank CD?

Most of Columbia Bank’s CDs can be opened online other than the 5 year CD, 6 year CD and their IRA CDs. Regardless of whether you’re opening a CD online or stopping by a local branch, you’re going to need the following pieces of personal information to complete the application process.

These are:

  • Full Legal Name
  • Home Address
  • Verifiable Email and Phone Number
  • Driver’s License or State Issued ID

To fund the CD from an external source, you’ll need the following:

  • Routing number of current bank or credit union.
  • Account number where funds will be withdrawn from to fund the Columbia Bank CD.

Filed Under: CD Rates Tagged With: Columbia Bank

Primary Sidebar

The Big Banks

  • Bank of America CD Rates
  • Capital One CD Rates
  • Citibank CD Rates
  • Chase Bank CD Rates
  • Wells Fargo CD Rates
  • U.S. Bank CD Rates

Noteworthy Credit Unions

  • Navy Federal Credit Union CDs and Savings
  • Patelco Credit Union CDs and Savings
  • PenFed CDs and Savings
  • Connexus Credit Union CDs and Money Market

Brokered CDs

  • Edwards Jones
  • Charles Schwab
  • Fidelity
  • Vanguard

Alternatives

  • 12 Alternatives to CDs and Savings Accounts

Real Estate Investment Platforms

  • Yieldstreet - Avg 10.61% Returns

Footer

Disclaimer

APY GUY strives to keep its information as accurate and up to date as possible. This information may be different than what you see at a bank, credit union or other financial institution. This applies to both in person visits and their website(s). Any financial products or services represented or discussed on this website are without warranty. When evaluating offers viewed on APYGUY.com, please read the financial institution’s Terms and Conditions.

About Us. Privacy Policy. Terms Of Use. How We Make Money.

Categories

Connect with Us:

  • Email
  • Facebook
  • LinkedIn
  • Twitter

Know of a fantastic APY offered by your local bank or credit union?

Don’t be shy, please share!

Send an email to hello@apyguy.com with the name of the institution, rate (APY) and type of product.

Our editorial staff will confirm the product, rate and APY (annual percentage yield) with the institution and publish it immediately for our viewers.

Copyright © 2023 - APYGUY: Maximize Your Savings & Earnings