Banks with the Best CD Rates
Looking for the banks with the best CD rates is a challenge, but like with all things in this world, if it were easy everyone would do it.
When looking for the best 1 year CD Sallie Mae still has the best rate available with a 1.55% APY. There is no minimum deposit but unless you place money in the CD, you cannot receive any return. This is the best but there are several that are close. Discover Bank has an APY of 1.50% with a minimum deposit of $2500. New Dominion Direct has an APY of 1.51% with a minimum deposit of $3000.
Another that is close with an APY of 1.50% is Ascencia Bank with a minimum deposit of $500 all for a 1 year CD. At 1.47% there is Aurora Bank with a minimum deposit of $1000. The last ones with CD Rates over 1.46% APY is the Bank of Internet USA with an APY of 1.48% and a $1000 minimum deposit.
The banks with an APY of 1.46% are GiantBank with a minimum of $2500, VitualBank with a minimum of $10,000, Goldwater Bank with a minimum of $10,000, Woodlands Commercial Bank with a minimum deposit of $2,500 and Ally Bank that does not require minimum deposit.
Each of these banks has competitive rates across the board but the top slot will vary depending on the term. For the 2 year CD the best rate is from New Dominion Direct with an APY of 2.00%.
On appearance the Georgia Prime Bank has the best rate on a 1 month CD with an APY of 1.05%. Just remember this is an annual percentage rate not monthly. To earn 1.05% on your deposit you will have to leave it in the bank and roll it over 11 times. Just like 2 one year CD’s at 1.55% will still be less than on large deposit on a 2 year CD at 2.00% APY.
The banks with the best CD rates are what I found listed above on August 10, 2010.
For additional resources about CDs on this website, please view Best CD Rates August 2010. On our other sister sites, there is information on bank services at on Best Checking Accounts Update.
We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.
Related posts:
- Best CD Rates August 2010
- Best CD Rates – Melrose Credit Union
- USAA 7 Year CD Rates
- M&T Bank CD Rates
- Best Banks in Florida for CD Rates
Tags: bank, bank cd rates, banks, Best CD Rates, CD rate, CD rates, investing, money, rate, rates
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