Jacksonville Bank has a 6 month CD with an interest rate of 1.39% and an APY of 1.40% that requires a minimum deposit of $1,000 to open. These rates are current as of March 5, 2010.

The Golf Savings Bank has a competitive 6 month CD rate. For deposits between $10,000 and $90,000 the interest rate is 1.34% and the APY is 1.35%. These rates were posted on February 1, 2010 and are still current as of March 5, 2010.

Hudson City Bank has CD rates for the residents of the states of New York, New Jersey and Connecticut on 6 month CD’s. They are all the same at 1.246% simple interest. They require a minimum deposit of $500 and the rates are current as of March 5, 2010.

These are the top 6 month CD rates March 2010 available today March 5, 2010. All rates are subject to change without notice.

Related posts:

1. Highest CD Rates 2010
2. Best CD Rates – Best 1 Year CD Rates 2010
3. Best CD Rates June 2010

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.

Related posts:

1. Everbank CD Rates
2. 24 Month GMAC CD Rates
3. Wachovia CD Rates

Citibank 6 Month CD

As we reviewed the Citibank CD rates, the Citibank 6 month CD jumped out at me as one of the best 6 month CD rates I have seen.  This 6 month CD currently has a CD interest rate of 3.92% with a high CD APY of 4.00%.  This is one of the best cd rates for a 6 month CD.

Citibank Minimum Deposit

The Citibank minimum deposit is a very low $500.  We love these bank CD’s with low minimum deposits to start investing in CDs.  CD investing is a great way to begin building up your savings and the Citibank minimum deposit requirement is low enough that any one can start buying CD’s.

Citibank CD Rates

The other citibank cd rates vary from a 3 month CD with a 2.20% APY to a 60 month cd with a 4.00% APY.  While we cannot predict whether CD interest rates will rise or fall, we believe that the best Citibank CD is the Citibank 6 month CD.

Citibank CD’s are FDIC insured up to $100,000 so in today’s troubled financial times a CD investing can be a great way to protect your money.  We hope that this article on Citibank CD rates has been information.  Go check out the 6 month Citibank CD.

Related posts:

1. Citibank 6 Month CD Rates
2. Current Citibank CD Rates
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Washington Federal Bank is an Illinois Bank that was founded on April 1, 1913.  Originally, Washington Federal Bank focused on providing loans to the Polish immigrants in Chicago, Illinois.  Now Washington Federal still offers great CD rates in Illinois, but it now has a larger presence in Illinois and Chicago.

In additon to the Washington Federal Bank cd rates on its 6 month CD, here is a list of the current cd rates being offered by Washington Federal.

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1. Highest CD Rates in Chicago, Illinois
2. Best CD Rates in Washington
3. Washington Mutual CD Rates

Many people discuss the advantage of opening high interest savings accounts.  In fact, most personal finance sites are filled with information about savings money with an ING Direct Orange savings account or an HSBC savings account.  But, these personal finance blogs neglect the advantages on CD investing.

The current cd rates of 4.00% APY on the Citibank 6 month cd rates are a great alternative to opening a high interest savings account.  Instead of earning 3.00% APY with an ING Direct Orange savings account, purchasing a citibank certificate of deposit will allow you to earn 4.00%.  This is a 25% increase in your return on investment.

The main advantage of saving your money in a high yield savings account is that you can withdrawl this money very quickly.  However, for a 25% increase in your ROI, CD investing may be a better option.  If you can afford to not withdrawl your money for 6 months, then look into the Citibank 6 month cd rates.  You will be happy with your return.

Related posts:

1. Citibank CD Rates
2. Best 9 Month CD Rates
3. Current Citibank CD Rates

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.

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1. Everbank CD Rates Review
2. Everbank CD Rates – Best 5 Year CD Rates
3. 4.00% 12 Month Wachovia CD Rates

The National City certificates of deposits all require a minimum deposit of $2,500.  A $2,500 minimum CD deposit is not too bad.  But, they need really good CD rates at this minimum deposit amount.

National City CDs come in terms of 6 months, 9 months, 12 months, 24 months, 36 months, 48 months and 60 months.  The National City 6 month CD has an interest rate of 2.25% APY.  We don’t really like this National City 6 month CD.  You would be better off opening an ING Direct savings account or an HSBC savings account.

Despite not being enthusiastic about the 6 month CD, the National City 60 month CD carries a high CD interest rate of 4.50% APY.  For a minimum deposit of $2,500, these 4.50% National City CD rates offers a nice premium over savings account interest rates.

Related posts:

1. Hudson City CD Rates
2. Citibank 6 Month CD Rates
3. Intervest National Bank CD Rates