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Archive for CD Rates

First National Bank of Pawnee Ups its APY Rates

By BankAim · Comments (0)
Sunday, January 29th, 2012

Sometimes, small-town banks have it better. Take for example the First National Bank of Pawnee. Catering specifically to the needs of residents in its state of Oklahoma, the bank is able to offer much higher APR and APY rates. On the National Average, banks are only able to offer an APY of 0.65% – 0.99%. Any other bank that’s able to provide much higher rates is a sure winner, and in this case, it’s the FNB of Pawnee. Just take a look at their offerings:

Certificate of Deposit - APY

91 day single maturity CD - 0.50%
182 day single maturity CD - 1.000%
182 day auto-renewable CD - 1.000%
1 year single maturity CD – 1.21%
1 year auto-renewable CD - 1.21%
18 month single maturity CD - 1.31%
2 year single maturity CD - 1.51%
2 year auto-renewable CD - 1.51%
3 year single maturity CD - 2.02%
3 year auto-renewable CD - 2.02%
4 year single maturity CD - 2.17%
4 year auto-renewable CD - 2.17%

They offer flexibility in terms of managing how long you want to keep an account for. You can have it for as short as 91 days or for as long as 4 years. And because you can choose an account that’s auto-renewable, you can just leave your money to keep growing and growing for the many years to come.

One of the most important requirements for you to be able to open an account is that you have to be a resident of the state. Since they do not accept any form of out-of-state money, this can either be an advantage to you if you’re from the small county, or a disadvantage if you’re not.

They also require $1,000 minimum initial deposit if you’re applying for the 1-4 year CDs. However, if you’re only going for the 91 or 182 day CDs, you must meet the minimum requirement of $2,500.

How do you get the interest? The FNB can either issue you a check, or directly deposit it in your checking or savings account. Of course, you can just add it up to the CD so you can get more of it when it reaches maturity.

However, as with other CD accounts, there are penalty fees for early withdrawal. It might be prudent to carefully think over the type of CD plan you intend to go for so as to prevent unnecessary payments that will prove to be a big loss on an otherwise fruitful gain.

About FNB of Pawnee

Serving the small county of Pawnee in Oklahoma since 1893, the First National Bank of Pawnee has since evolved from a small bank into a full financial institution it is today. Even with its small staff of 25, and catering to a small number of people, it boasts of at least $50 million in assets. Since its foundation, the bank has experienced depressions, wars, and drought. But despite all these, its financial integrity remained strong, and that is why it has become one of the most trusted names in banking in the state of Oklahoma.

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Doral Bank does well with 1.15% Annual CD Rate

By BankAim · Comments (0)
Wednesday, January 25th, 2012

Stop for a moment and think about you goals in life. Do you want to buy a new car next year? Or perhaps you want to start saving for your kids’ college fund? Oh wait, there’s still that old farmhouse in the country you’ve been eyeing to have for your retirement. Whether your goals are for long-term or short-term, we all know that getting the money we need is the vehicle by which we can reach these dreams.

Doral Bank understands this need, and that’s why they’ve set a very high APR of up to 1.15% for a 1-year CD. And since other banks or lending groups are trailing far behind at 1.080% or 0.990% rates, Doral Bank’s offer is quite a lucrative deal to sign up for indeed.

Here are the rates as follows:

6 month certificate – 0.75%
9 month certificate – 0.75%
12 month certificate – 1.15%
18 month certificate – 1.15%
24 month certificate – 1.15%
36 month certificate – 1.50%
48 month certificate – 1.50%
60 month certificate – 1.50%

With these rates, you can customize you CD plan and choose a time period suitable for you and your needs.

How to Open An Account

It is fairly easy to start a CD account with Doral Bank. At a minimum, you must first have at least $1,000 deposit. You must also make sure that you have a daily balance of the same amount as well. This makes you eligible to avail the above APYs.

All interests undergo daily compounding, ensuring best and higher returns for you money. When it reaches full maturity, automatic renewal is in place. If however, you wish to change a term or not opt for renewal, you will be given ten days to settle the account.

If you should decide to close the account earlier than you should, or before the money reaches maturity, you will not be penalized save for a $10 fee.

About Doral Bank

Doral Bank has three main centers – one in Florida, one in New York, and another in Puerto Rico. They bank mainly on through their online services, making people’s money more accessible than it ever could. And since Doral Bank is a member of the Federal Insurance Deposit Corporation, or FDIC, you are insured of at least $250,000. Their emphasis on security has placed them among the ranks of well-trusted banking services in the country.

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0.95% APY for 1 Yr CD from Colorado Federal Savings Bank

By BankAim · Comments (0)
Friday, January 20th, 2012

The rise and fall of CD rates are often unpredictable. However, the past week has seen some steady flow, with bank CD rates of 0.99% – 1.00%. The money market has been responding well despite the ongoing European crisis, and keeping rates steady is the next best thing to having the high interest rates which we can only hope for.

The Colorado Federal Savings Bank is among these few banks that provide stability. With their offering of 0.95% APY from a single issuance of a CD account, you can expect high returns for your savings. As of today, the Colorado Federal Savings Bank goes on a head-on race with other big leaders on CD offers, such as Ally Bank’s 0.99% offering, and even Sallie Mae’s 1.00% APY. This competitive rate can assure depositors they won’t feel cheated out of their money, and let them expect great savings as well.

What It Offers

Any certificate of deposit account starts with an initial amount. Colorado Federal Savings Bank requires a minimum deposit amount of $5,000, in which your yearly interest is based on. And since your money is compounded daily, you can expect greater returns and bigger growth to your money, as opposed to those which are compounded on a weekly, monthly, or even quarterly basis.

Once you’ve locked in your amount, you can expect any of the following APY rates for your money:

6 month CD = 0.75%
1 year CD = 0.95%
18 month CD = 1.00%
2 year CD = 1.10%
3 year CD = 1.35%
5 year CD = 1.80%

Within your preferred time of maturity for your money, the funds will remain inaccessible. The choice of which maturity period you intend to go for rests in you, but these funds remain inaccessible throughout the whole maturity period. Every depositor is insured at least $250,00 by the FDIC, so you feel financially secured in spite of unforeseen and uneventful events. No service fees are collected for any online banking access, nor are there any monthly maintenance fees. However, early withdrawals are subjected to penalties.

You can open an account online, as long as you are able to submit basic identification requirements. Once your application gets approved, funds are expected to be deposited within ten days from application. Failure to do so will result in the forfeiting of your application.

Open an account with Colorado Federal Savings Bank today and watch your money grow exponentially.

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Pen-Fed Offers High 1.50% APY for 1 Yr CD to US Military

By BankAim · Comments (0)
Wednesday, January 18th, 2012

With today’s standard APY fixed at a 1-year CD of 0.99%, finding rates higher than this is like finding a pot of gold at the end of the rainbow – lucky and very rewarding. Specifically created for the benefit of members of the US military, the Pentagon-Federal Credit Union offers an interest rate of 1.50% annually in their certificate of deposit accounts. This offer is among the highest there is today, alongside Doral Bank’s 1.50% and AloStar Bank of Commerce’s 1.030% APY.

The Money Market Certificate

While traditional CD offers compounding your deposits annually at the least, the Pen-Fed offers what is called the Money Market Certificate. Here, your money can be compounded in six months. After this, you can have the option to transfer the amount to another account, or credited at maturity as well.

In order to open a new account, you need to deposit only a minimum of $1,000. Penalty fees are issued when the account is withdrawn before it reaches maturity, however, you may utilize 95% of the initial amount for the certificate to be used as collateral when you loan.

Upon opening an account, you are automatically given free reign over the dividend options of your certificate. You may get to choose any of the following actions:

1. Sum up the dividends to your certificate
2. Have them transferred to your Checking, Sharing, or Money Market Account
3. Sent to you through a check

Upon maturity of the principal amount, you can use any of the aforementioned choices as well.

Unless you inform Pen-Fed of any changes in your decision, automatic renewal of the certificate will ensue.

Truly, the Pen-Fed Credit Union allows those in service to not only save lives, but save their money as well.

About Pen-Fed

For over 77 years, the Pentagon Federal Credit Union has catered to the banking and financial needs of members from the US Army, Air Force, Department of Homeland Security, Coast Guard, Department of Defense, veterans of foreign wars, and other defense-related companies.

With over $15 billion in assets and its strong credibility built from years of experience, the Pen-Fed Credit Union is one of the most stable and trusted companies in the country. Just like its members, the men and women that help protect our nation, the Pen-Fed is well-reputed for its attention to the utmost security of its accounts.

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Earning more from Less with Sallie Mae CD

By BankAim · Comments (0)
Thursday, January 12th, 2012

Issuing a Certificate of Deposit, or CD as it is commonly known, is a great way to let your money grow. Just like harvesting crops, this service relies on the principle of you can reap only that which you have sown. Simply put, the more money you invest, the greater your rewards will be. But what happens if you want to open a CD account, yet you don’t have the minimum deposit of $1,000 or even $25,000 that some banks ask for?

In this case, Sallie Mae Bank is perfect for you. Being one of the very few banks that absolutely does not require any minimum deposit, you can start putting aside your hard-earned money, whatever amount it may be, and allow it to mature.

The Good Side

Although the highest reported APY today is fixed at 1.15%, with Doral Bank leading the pack, you can still get the most value of your money with Sallie Mae Bank. Being one of the only two CD competitive banks that offer no minimum deposit, it still provides a higher APY than the other. At 1.00% APY, it outshines Ally Banks’s 0.99%, despite its same offer of no minimum deposit. Your money is compounded daily at the same rate, which still allows you to enjoy more benefits than those which are compounded monthly or annually.

The Down Side

After a 12-month period, you get the expected 1.00% APY, and at 36 months, this grows to 1.30% APY. However, by the end of 60 months or 5 years, an APY of 1.50% is all you get. This is a far comparison with most banks’ 2.00% APY for the same time period. If you are looking for a long-term arrangement, you might do well with offers from banks such as Alma Bank or First American Bank, which are currently offering a 2.00% or more APY.

In it for the Short Run

If you are thinking of holding it out for only a year or two, Sallie Mae Bank is your best choice. They do not require a hefty sum, but you’re sure that your money will grow at a rate that’s comparable to others. There are no monthly fees as well. Once you reach maturity, you can withdraw the whole lot with full and guaranteed returns. Or you can always renew your account.

The Sallie Mae CD offer is best for first time investors who want to test the waters before diving in. If you want a short-term, no minimum deposit CD with competitive rates, then this bank’s for you.

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Find Competitive CD Rates with Discover Bank

By BankAim · Comments (0)
Wednesday, January 4th, 2012

Discover Bank is one of the nation’s most popular banks because of its many credit card rewards and promotions. And it’s not just the credit cards that you need to unveil with Discover Bank, but their CD rates are also something worth considering.

Discover Bank currently holds some of the nation’s top rates for certificates of deposit in many categories. Below are the CD rates of Discover Bank as of January 2012:

3 Months – 0.40%
6 Months – 0.75%
9 Months – 0.85%
12 Months – 1.00%
18 Months – 1.10%
24 Months – 1.20%
30 Months – 1.25%
3 Years – 1.40%
4 Years – 1.60%
5 Years – 1.80%
7 Years – 2.05%
10 Years – 2.50%

How These Rates Compare

Discover Bank’s rates are certainly comparable with other banks that are currently on the leader board for the nation’s highest CD rates. Whether for short term or long term deposits, Discover Bank’s rates shows just how much Discover can offer back to their customers.

Discover’s rate of 0.75% for a 6 month CD is the second highest rate nationally available, after VirtualBank’s 0.85%. Discover’s 5 year CD is just also slightly lower than Intervest National Bank’s 1.95% rate. Other interesting rates from Discover is their 7 year and ten year term at a good 2.50%.

How To Start A CD Account with Discover

Starting your savings is easy with Discover. All you have to do is choose an account type, (you can even choose five at a time), enter your personal information, fund the account using any checking or savings account with either a personal check or wire transfer, and once you’ve verified your information, you can submit your application.

Managing Your CD

Once you already have your CD account opened, it doesn’t mean that you don’t have to see it up until it matures. Discover allows you to track and manage your account 24 hours a day using either phone or Internet. You can choose to accumulate interest in your CD account, and you also have the option to transfer the interest to another account. The advantage of this is that if you need to use the earnings made by your CD, you don’t have to withdraw your whole CD and suffer a penalty. It’s as if your money is really earning for you.

Discover Bank is well known for offering credit cards with great promotions for their users, but their CD rates aren’t too bad as well. If you’re looking to invest with a stable bank that offers fixed returns, then Discover Bank is a good choice.

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Alostar Bank Offers Highest Six Month CD at 0.760%

By BankAim · Comments (0)
Thursday, December 29th, 2011

Several banks nowadays usually offer different rates for certificate of deposits that change from time to time. If you’re already thinking about investing in one, you may want to consider placing your money with AloStar Bank of Commerce. Effective December 28, 2011; AloStar Bank of Commerce offers the highest CD rate for a CD period of six months which is 0.760%, a rate which is 0.020% higher than its counterpart, Ally Bank.

Comparing the Top Three

The latest comparison of rates show that AloStar Bank of Commerce gives out an Annual Percentage Yield of 0.760%, followed by Ally Bank which offers a six-month CD rate of 0.740% and CIT Bank which offers a 0.450% CD rate, all of which are compounded daily. With a minimum deposit of $1000, you can already avail of AloStar Bank’s six-month CD Rate. Thus, after a year’s worth of having this certificate of deposit with AloStar Bank, your minimum deposit of $1000 can go to as much as $1760, that’s almost double your initial deposit! How much more if you deposited an even larger amount.

AloStar Bank’s CD Rates

Terms Rates

30 Day CD – 0.26% APY
90 Day CD – 0.41% APY
6 Month CD – 0.76% APY
9 Month CD – 0.95% APY
12 Month CD – 1.03% APY
24 Month CD* 1.19% APY

National Average for 6 month CD: 0.22%
*Minimum Initial Deposit: $1,000 to open.

Getting It Started

In order for you to avail of this high rate, you could either open a certificate of deposit account personally with any of AloStar Bank’s branches or download a PDF form from their website and just fill out all the necessary information. You may be required to present your Driver’s License or any other identifying documentation and your Social Security Number. They also have some standby Customer Service Representatives that will assist you with your needs.

About AloStar Bank of Commerce

AloStar bank of Commerce is a National bank with a vast coverage of depositors in over forty-eight states. Its headquarters is in Birmingham, Alabama with a commercial office in Atlanta. Through dedication and passion for service, they sought to be the guiding light in the world of commerce with several branches nationwide that caters financial and banking services personally and online.

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Digital Credit Union Gives 1.25% APY on 1 Year Cd

By BankAim · Comments (0)
Sunday, December 25th, 2011

It seems that certificates of deposit rates have been holding steady for the past several months. When you check the CD rate leader board, you see the same banks with the same rates. Currently, the highest CD rate from banks on a 1 year CD is from CIT Bank, this has been so since October. However, it’s good to know that a higher rate is being offered by Digital Credit Union, which is 1.35% on a 12 month CD.

CD Rates from Digital Credit Union

3-5 months – 0.75%
6-11 months – 1.10%
12-23 months – 1.25%
24-35 months – 1.35%
36-47 months – 1.76%
48-59 months – 2.25%
60 months – 2.76%

How These Rates Compare

Other great rates from Digital Credit Union is their 3-5 month rate which currently beats the highest CD rate from banks which is Virtual Bank at 0.60%. And if their short term CDs are competitive, the long term CDs also boast of a better rate than the highest nationally available from banks which is Intervest Bank’s 1.97% Rate.

However, it is common knowledge that credit unions are expected to offer higher rates than banks. So how do these rates compare to other share certificates offered by credit unions? At this point, Navy Federal Credit Union is offering a higher 1 year CD with a 3.00% rate, First American Credit Union also has a slightly higher advantage with a 1 year rate of 1.76%. It goes to show that although Digital Credit Union’s rates can appear stronger than what banks have to offer, other credit unions may have better offers.

Digital Credit Union Membership

Credit Unions are usually restrictive in their membership. In this case however, it appears that anyone can join DCU by becoming a member in one of their participating organizations. For example, Reach Out For Schools is an organization that helps raise money to donate to primary and community schools. Membership starts at only $10. Another organization is American Association of People with Disabilities with a membership of $15. Just pay your membership dues and you are now eligible to join DCU. Of course there are other ways to become a member, membership eligibility can be found in their website.

The fact that DCU can open its doors to just about anyone is also a factor to consider since credit unions such as Navy Federal Credit Union are restrictive in membership. If you want to start growing your savings now, DCU may be the place to start.

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Highest 1 Year CD from Alma Bank at 1.35% APY

By BankAim · Comments (0)
Saturday, December 24th, 2011

CD rates from banks have more or less been uneventful these days. They have held steady with the highest 1 year CD from CIT bank and Doral Bank at 1.15% APY. It is surprising then to find a higher CD rate than this from a bank and not from a credit union. But indeed it is so as Alma Bank offers 1.35% APY on their 1 year CD.

Rates from Alma Bank

1 month CD – 0.50%
3 month CD – 0.70%
6 month CD – 0.90%
9 month CD – 0.90%
1 year Alma Liquid CD – 1.35%
2 year CD – 1.65%
3 year CD – 1.75%
5 year CD – 2.00%

Minimum balance required to open an account is only $2,500.

How These Rates Compare

It’s interesting to note that Alma Bank is offering a higher CD rate than banks that are advertised in CD leader boards. Aside from their 1 year CD, the 5 year CD from Alma Bank is also higher than Intervest National Bank’s 1.95% APY rate which is reported to be the highest nationally available. The same also goes for their 3 month CD, where the highest available is reported to be Virtual Bank at 0.60%.

1 month CDs are also rarely offered by banks since this is really a short term type of CD. For those who are looking for a temporary place to park their cash, that might be a good option to use. The other rates such as the 2 year and 3 year CD are competitive as well.

About Alma Bank

Alma Bank is a relatively new bank that opened its doors last October 15th 2007. Since then it has already mushroomed to have 9 branches in the New York State.

Although there are many credit unions who offer better rates, those who prefer banks can get the best rates at Alma Bank. Despite being new, it is FDIC insured, insuring your deposits per account to a maximum of $250,000.

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Grab A 3.00% APY on 1 Yr CD with Navy Federal Credit Union

By BankAim · Comments (0)
Tuesday, December 6th, 2011

Navy Federal Credit Union does it again. Right now, they are offering an extremely high 1 year CD rate with a 3.00% APY. This rate is by far one of the highest available among banks and other credit unions considering the term.

The Promotion

The special certificated of deposit is called the Special Easy Start Certificate with a low minimum deposit of only $50. This CD has a term of 1 year with a whopping rate of 3.00% APY. The deposit is also compounded either daily or monthly.

How The Rate Compares

Right now, the highest 1 year CD nationally available from banks is from CIT Bank at only 1.15% APY. Credit Unions, being known for giving higher rates do offer much better rates but almost none as good as what Navy Federal is giving. Other 1 year CD’s from credit unions are at 1.26% from First Credit Union, 1.20% from Alliant Credit Union, and 1.15% from Melrose Credit Union. The only other credit union that beats this rate is from Patelco Credit Union at a promotional rate of 5.00%.

Other Rates From Navy Federal Credit Union

Other interesting rates from Navy Federal Credit Union includes their 7 year CD with a 2.80% APY. Most of the rates from the credit union aren’t as competitive as some banks and other credit unions, but they are still higher than the national average.

About Navy Federal Credit Union

This institution has been known for giving great interest rates and mortgages to their members. Membership is exclusive to some criteria such as being part of the Armed Forces, employed in the Department of Defense, relatives of qualified persons, and extended family. More details on membership can be found on their website. They also provide an eligibility wizard for you to easily determine if you are qualified to be a member or not.

Navy Federal Credit Union is one of the most established credit unions in the nation. It is also insured by the NCUA and it has its roots since 1933.

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