Best CD Rates » 3 month CD

ISN Bank CD Rates

Douglas — Thu, 23 Sep 2010 09:58:16 +0000

If you are looking for the ISN Bank CD rates, chances are you will not be finding any. Just last week, ISN Bank held the top rate for a 3 month CD, paying 1.01% APY for a minimum deposit of $10,000. Despite this, ISN Bank of Cherry Hill, New Jersey, was closed by the New Jersey Department of Banking and Insurance (NJDBI) on September 17, 2010.

No advance notice was given to the public when ISN Bank (InterState Net Bank) was closed due to bank failure. The Federal Deposit Insurance Corporation (FDIC) was subsequently appointed as Receiver. To protect ISN Bank’s depositors, the FDIC entered into a purchase and assumption agreement with New Century Bank (doing business as Customers Bank) of Phoenixville, Pennsylvania, to assume all of the deposits of ISN Bank. All deposit accounts, excluding brokered deposits, are available immediately, as well as ISN Bank’s ATMs and online service.

The former ISN Bank location is now open as a branch of Customers Bank during regular business hours. The bank will maintain its regular business hours, and you may continue to use the services to which you previously had access, such as safe deposit boxes, night deposit boxes, wire services, etc. Your new bank will be contacting you soon regarding any changes in the terms of your account.

Your checks will be processed as usual and checks that were drawn on ISN Bank that did not clear before the institution closed will be honored provided there are sufficient funds in the account. You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Customers Bank as long as the deposits are not pledged as collateral for loans.

All interest accrued through September 17, 2010 will be paid at your same rate, which includes CD rates.

ISN Bank is the 120^th FDIC-insured institution to fail in the nation this year, and the first in New Jersey since 2009. No ISN Bank CD rates are to be found today, September 23, 2010, but you can read more about this event, and useful information regarding your relationship with ISN Bank that the FDIC has assembled, through the FDIC link in ISN Bank’s website.

For additional resources about CDs on this website, please view Discover Bank CD Rates – Best 2 Year CDs.

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.

Short Term CDs

nittany — Fri, 06 Mar 2009 19:26:45 +0000

With CD interest rates being at an historic low, short term CDs are much more popular today than long term CDs. Many more people are following short term CD rates than long term CD rates. Both long term certificates of deposits and short term certificates of deposits rates are low, but we here at Best CD Rates see no reason to purchase long term CDs at this time. Short term CDs are the best buys right now.

What are Short Term CDs?

Short term CDs are certificates of deposits with timed deposit periods one year or shorter. While there is no clear delineation between a short term cd and a long term cd, I draw the line at 12 month CDs. If a certificate of deposit has a term great than 12 months, I would categorize it as a long term CD.

Every bank has different timed deposit periods for their short term CDs. However, 1 month CDs, 3 month CDs, 6 month CDs, 9 month CDs, and 12 month CDs are the most common periods for short term CDs.

Why Invest In Short Term CDs?

Many investors ask why you would buy a 6 month CD with 2% interest when you can buy a 36 month CD earning 3% interest. There are two reasons for why invest in short term CDs. The first reason to invest in short term CDs is that you need access to your money in the near term. If you purchase a 36 month CD, you will not be able to access your money without paying a withdrawal penalty for the 36 month term. However, if you invest in a 6 month CD you will be able to withdrawal your money within a much shorter period of time.

The second reason for buying short term CDs is that CD interest rates might be higher in 6 months. By buying a short term CD you can move your money into a higher interest CD in 6 months or take advantage of another investment opportunity at such time. With CD rates being at all time lows, locking into a long term CD at this time could be foolish. However, having said that, who knows whether CD rates will rise in the future.

When looking to invest in a short term CD, it is important to find the best CD rates for short term CDs. Also compare the short term CD rates of 6 month CDs versus, 9 month CDs versus 3 month CDs. Also, you have to compare bank CD rates because no two banks offer the same CD rates. Through comparing bank CD rates, you will find the best short term CD with the right interest rate and the rate length term. At this time I would check out GMAC CD rates, Wells Fargo CD rates, and your local CD rates. Sometime local CDs will have the best short term CD rates.

3.25% GMAC 3 Month CD Rates

nittany — Mon, 15 Dec 2008 14:42:59 +0000

If you are looking for a short-term certificate of deposit, the 3.25% GMAC 3 month CD rates are attractive. GMAC CDs have consistently had great CD rates, and the 3 month GMAC CD rates are no different.

In order to qualify for this 3.25% APY CD interest rate, GMAC requires a minimum deposit of $500. As with most CDs, you cannot withdrawl the money that you deposit in this certificate of deposit until the 3 month term has expired. If you do want to withdrawl before the end of the CD term, you will forfeit the interest.

GMAC CDs are backed by FDIC insurance up to the FDIC insurance limits. Therefore, these GMAC 3 month CDs are a safe place to put your short-term savings. So go check out these 3.25% GMAC 3 month CD rates.

24 Month GMAC CD Rates

nittany — Sat, 29 Nov 2008 15:08:05 +0000

GMAC Bank has some of the best CD rates. One of the rates that I particularly like is the 24 month GMAC CD rates. This 24 month CD has an APY of 4.45%.

GMAC CD interest rates are very good. In addition to the GMAC 24 month CD, GMAC 12 month CD rates are 4.25% APY. And, the GMAC 9 month CD rates are 3.80% APY. All and all these are great CD rates.

GMAC requires a minimum deposit of $500 to purchase a certificate of deposit. A $500 minimum deposit for a certificate of deposit is about as low as you will find. This is a good minimum deposit. Many banks will charge $1,000 to up to $25,000 as a minimum deposit.

When purchasing a CD make sure that you can go without withdrawling your money for the entire term of the CD. IF you withdrawal your money early, you will pay a substantial fee. The fee is so high that you would be better off just settling for the lower interest rates offered by an online savings account.

Investing in bank CDs is great way to make the most interest on your money. Make sure your bank is FDIC insured. By the way, the GMAC CDs are FDIC insured. I would never buy a certificate of deposit that was not FDIC insured.

So, check out the 24 month GMAC CD rates and the other GMAC certificates of deposits. GMAC usually updates its CD rates every month. Check back here because we will review the December GMAC CD rates in a future article.

Everbank CD Rates

nittany — Mon, 29 Sep 2008 21:05:18 +0000

Everbank CD rates are some of the best bank cd rates today. The Everbank 3 month certificate of deposit and 6 month certificate of deposit are currently earning certificate of deposit interest of 4.02% APY and 4.23% APY, respectively. This makes the Everbank 3 month CD and 6 month CD the best cd interest rates for these given terms.

If you are looking for a short term place to save your money and earn a high interest rate, you have to check out these Everbank CD rates. In order to open a certificate of deposit account, Everbank online banking requires a $1,500 minimum deposit. This $1,500 minimum deposit is a low minimum amount that should allow most CD investors to purchase a Everbank CD.

Everbank CDs also come in terms of 9 months through 60 months, but the CD interest rates don’t really go up that much at these longer periods. In fact, the 5 year CD has an interest rate of 4.54% APY. That is only 0.31% higher than the 6 month Everbank CD. Unless you really want to buy a long term CD, in our opinion you are better off buying a short-term Everbank CD. The 3 month and 6 month Everbank CD rates are an excellent choice.

For those of you not familiar with Everbank, Everbank Direct is one of the pioneers of internet banking. Everbank was started in Jacksonville, Florida, but now does banking across the United States through its everbank.com website. Everbank online banking is a robust banking site that provides high interest savings accounts, free Everbank checking accounts, and some of the best cd rates.

If you are in the market for a short-term certificate of deposit, the Everbank CD rates on its 3 month CD and 6 month CD are the best cd interest rates in the United States right now. Check out the everbank.com site for more information regarding Everbank CDs.