Best CD (Certificate of Deposit) Rates
Find the highest C.D. rates available.
What is a CD (Certificate of Deposit)?
A certificate of deposit or CD is a time deposit, a financial product commonly offered to consumers by banks and credit unions.
CDs are similar to savings accounts in that they are federally insured and thus almost completely risk-free; they are "money in the bank." Bank CDs are insured by the FDIC (Federal Deposit Insurance Corporation) and credit union CDs are insured by the NCUA (National Credit Union Association).
They are different from savings accounts in that the CD has a specific, fixed term to maturity and typically a fixed interest rate for the duration of that term. CDs can have lower or higher rates that savings accounts, depending on the direction the prime rate (controlled by the Federal Reserve) is headed. You must leave your money in the CD for the term to maturity or face withdrawal penalties, which can quickly cut into the interest.
While well known as a traditional brick and mortar banking powerhouse, Wells Fargo also emulates other brick and mortar banks in that they offer rates that are by no means the highest. Wells Fargo’s best CD rate at the moment—it’s “featured rate”—is a 4.90% APY with a 5 month maturity. The minimum balance is $5,000. [...]
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American National Bank’s tagline is, “American Dreams Come True.” But my dreams aren’t going to come true anytime soon with the horribly mediocre CD rates that they are offering! Their interest rates range anywhere from 1.25% APY (for a 7-30 day CD) to 4.10% APY (for a 5 year+ CD). They do have two “specials” [...]
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Hello, and welcome to another edition of Bad CD Rates! Today we will be covering Suntrust Bank. Suntrust Bank offers abysmally low CD rates, money market rates, and savings account rates. These rates may not be the most updated (I couldn’t find actual rates listed on their site) but if they are the latest rates [...]
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If you look above you’ll see that I’ve launched a new category – “Bad Rates.” In doing research on CD rates and savings accounts, I’ve found many banks offering mediocre deals. These should be avoided at all costs, and so I’ve created a new category to document these bad rates. For the inaugural post to [...]
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APY Savings Account at Ally (12/9/11)