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Bank of Internet CD Rates

Bank of Internet just raised its 1 year CD from 1.21% to 1.27%. This isn’t really a huge rate increase but it is nice to see some rate increases when overall CD rates have been dropping steadily. The minimum deposit on this CD is $1000.

The Bank of Internet CDs feature:

  • Multiple beneficiaries can be included in the application
  • You can select ownership designation as POD, ITF or ATF
  • You can select the following types of accounts in the application: Joint, Trust, Non-Profit Corp. and UTMA
  • In the application you can select to have interest added back into the CD or paid out monthly to an outside bank via ACH
  • The CD rate is determined on the day Bank of Internet receives your application – this rate is reserved for a period of 10 business days to allow time for your deposit to arrive
  • No IRA accounts available
  • Early withdrawal penalty is 6 months of interest for terms of 12 to 23 months
  • Grace period at maturity is 10 days
  • Forfeit interest earned during grace period if you close the CD
This rate is current as of 7/6/2011.
Bank rates may be out of date. Please check bank websites for current rates. Find & compare the best CD rates, savings accounts, and bank deals!

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