Of course, many who wish to save money, especially as a hedge against other investments or as a way to get guaranteed returns for specific savings goals, will use certificates of deposit to do so. Today at Peak Personal Finance, we’re going to look at the rates at a popular NE bank.

Buffalo, New York-based M&T Bank is a major financial institution in the Northeast region of the United States. M&T Bank CD rates are subject to change depending on the financial situation and economic regulations. The bank offers many investment options but CD accounts attract the largest number of customers. As of May 2010, M&T CD rates are described below.

For a Select CD of six months, the bank returns an APY of 0.35%; promotional rate for the same term is 0.50%. A one year investment at the bank under Select CD returns an APY of 0.85% whereas a promotional CD will offer an APY of 1.10%.

M&T certificate of deposit rates for an 18-month CD are currently estimated to return an APY of 0.85% for Select and 1.25% for promotional CD. The best CD rates at the bank are available for the five year investment. This option is only available under the promotional investment where customers can earn as high as 2.25% in APY.

CD rates for a two year investment at the bank are currently estimated at 1.01% for standard and 1.25% for promotional CDs. A three year investment at the bank will also yield the same APY for Select CD whereas it will be 1.75% for promotional CD. The minimum deposit required to open CD accounts at the bank is $1,000. The bank deducts money from the accounts in case of early withdrawals and other violations of the user agreement.