Kinderhook Bank (NY) Raises Rate On 9-Month CD To Competitive Level


Availability: Market area is New York State’s Hudson Valley.

Earlier this month, Kinderhook Bank raised the rate on its 9-month CD (1.10% APY). This advertised "Special Rate" is the highest APY for the 9-month CD in over five years. The minimum opening deposit is $500, with no maximum balance cap.

0.30%$500-Kinderhook Bank9 Month CD
Accounts mentioned in this post. Rates as of September 24, 2017.

According to a most helpful CSR, the Early Withdrawal Penalty (EWP) is determined on a case-by-case basis, with the amount being withdrawn and the time remaining until maturity the key variables. CSR also stated that the typical EWP on the 9-month "is approximately three months interest."

Kinderhook Bank is also offering a 13-month Breakable CD Special (1.00% APY). This is a limited time offer that requires a $500 minimum opening deposit. According to the fine print,

In the original 13-month term of this CD, you may withdraw the full balance plus interest once, without penalty, after the first 6 days of the initial deposit, or 6 days after a partial withdrawal

Money Market Account Special

CSR also mentioned a Money Market Account Special (1.00% APY guaranteed for one year) exclusively available at the Latham and Albany locations, the two newest Kinderhook Bank branches. Not only is the APY "special," but so are the terms of the account:

  • No minimum deposit level required to earn the 1.00% APY
  • No monthly fee

At the end of the one year, the Money Market Account Special reverts to a standard Money Market Account earning the current rate. A minimum $25K balance is required earn the stated rate and to avoid the $25 monthly fee.


Kinderhook Bank’s market area is New York State’s Hudson Valley, with branches located along 45 miles of the Hudson River.

Opening an account with Kinderhook Bank requires an in-person visit to any of eight branches located in Albany, Chatham, Delmar, East Greenbush, Hudson, Kinderhook, Latham, and Valatie. Kinderhook Bank’s website has an application available for download to expedite opening an account.

CSR stated that using e-mail correspondence (with your specific branch) to provide all the information needed to open an account readily speeds up the process.

Bank Overview

Kinderhook Bank has an overall health rating of "B+" at, with a Texas Ratio of 7.17% (excellent), as of March 31, 2015 data. In the past year, Kinderhook Bank has increased its total deposits by $8.44 Million, an above average annual growth rate of 2.66%. Please refer to our financial overview of Kinderhook Bank for more details.

Established in 1853 as The National Union Bank of Kinderhook, Kinderhook Bank (FDIC Certificate # 7128) is an independent community bank that originally provided financial services to individuals and businesses in the village of Kinderhook and the surrounding area. The nearest banks at the time were located approximately 20-25 miles away, a considerable journey in 1853. Today, Kinderhook Bank has assets in excess of $366 Million and continues its to be actively involved in the local community through its Corporate Contributions Program.

Kinderhook Bank's Corporate Contributions Program provides support to non-profit organizations, schools, and other organizations whose primary objectives are to improve the quality of life of the people who live within the Kinderhook Bank service area.

How the CDs Compare

When compared to other similar length of term CDs tracked by, requiring a similar minimum deposit and available to New York residents, Kinderhook Bank’s 9-month CD is quite competitive, while the 13-month Breakable CD Special currently ranks 12th.

How the Money Market Account Compares

When compared to other Money Market Accounts tracked by available to New York residents, Kinderhook Bank’s Money Market Account Special is competitive, particularly when considering the no minimum deposit requirement and no monthly fee.

The above rates are accurate as of 6/24/2015.

To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of

To look for the best nationwide Money Market rates and the best Money Market rates in your state, please refer to our Money Market rates table.

Related Pages: Kinderhook Bank, Albany

gregk | | Comment #1
The problem though, Ken, is that though 1.10% APY may be "the highest APY for the 9-month CD in over 5 years" it still falls short of numerous other FI's APY's for completely liquid checking & savings accounts. Is their some rational advantage to locking in this wonderful rate for 9 months given these higher yielding alternatives? I don't think so, - but FI's can typically count on non-rational investors to support their profit-margins with deals like these.
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Rates and ATM fee refunds if monthly requirements are met:

  • 2.50% APY on balances up to $20,000
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  • 0.03% or less if requirements are not met
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  • Open the Freedom Checking with a minimum deposit of $100
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