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Archive for CD Rates – Page 4

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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Great CD Rates from First American Credit Union

By BankAim · Comments (0)
Thursday, December 1st, 2011

Now that the sales and discounts from Black Friday and Cyber Monday are over, we can finally start getting out of hyper mode. However, despite the fact that sale holidays are over, we can still continue to rejoice over great deals that happen to be available for extended periods of time. Take for example these great CD rates from First American Credit Union. Great rates include 1.26% for a 1 year CD, 1.76% for a 3 year CD, and 2.52% for a 5 year CD.

How These Rates Compare

Right now the highest 1 year CD nationally available from banks is 1.15% from CIT Bank. This puts First American Credit Union’s rate higher. CIT Bank also holds the higher rate for 3 year CDs with a 1.54% APY, however, First American CU’s rate is still higher. This also holds true for the 5 year CD rate where the highest nationally available from banks is only at 1.99% from Intervest National Bank.

What’s the Catch?

When we see such great rates, we always end up wondering if there’s a catch somewhere. First of all, we have to remember that the institution offering these rates is a credit union, and not a bank. One issue with credit unions is that they are sometimes restrictive with their membership. According to their website, First American Credit Union’s membership is open to anyone who lives or works in Rock County, WI, Green County, WI, Walworth County, WI or Winnebago County, IL. However, according to one consumer, if you ask their customer representative, the credit union has no requirements for membership. Just open an account with a minimum deposit of $5.

Another thing to notice is that these CD rates are available only for minimum deposits of $50,000 which is relatively a large amount which not everyone may be able to have.

About First American Credit Union

First American Credit Union has its roots in 1933 and was acquired by First Community Federal Credit Union in Michigan by 2010. It currently serves 78,500 members and it has 16 operating branches.

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Open a CD, Get an iPad 2 From Flushing Savings Bank

By BankAim · Comments (0)
Monday, November 21st, 2011

Flushing Savings Bank is spreading the holiday cheer with their current Christmas promotion. It seems that customers stand a chance of getting gadgets such as an iPad 2 and more, if they open a certificate of deposit account with Flushing Savings Bank.

The Holiday Offer

The promotion can be seen on their website, giftsforbanking.com, which immediately features the special bundle they have in store for you if you open a CD with them. Apparently, those who decide to open a 5 year CD with a minimum of $25,000, can get an audio gift package including the following:

* Apple 16 GB iPad2
* 32 GB iPod Touch
* Bose Headphones
* Yamaha Desktop Audio System

All you have to do is complete the easy online application and you can have those gifts immediately delivered to you.

The Rate

Although the gift package sounds simply irresistible, one thing any smart investor would look at is the CD rate offered. Right now, their 5 year CD is featuring a 1.75% APY rate which isn’t bad at all since it is considerably higher than the national average at 1.19%. However, there are other institutions who can offer better rates such as 1.95% from Nationwide Bank and even as high as 2.68% from Melrose Credit Union.

Other Terms, Other Gifts

For those who don’t have the capacity to make such a large deposit of $25,000 for a 5 year term or those who want to deposit more, there are other gifts available every deposit range and term. Other gifts available are the Casio EXILIM 14.1 MP Digital Camera and Amazon Kindle for $5,000 – $9,000 deposits, Nintendo DSI Package and Samsung HDTV and Bluray Player Package for $10,000 -$24,000 deposits, Samsung 3D TV Home Theater and Canon EOS 7D Kit for $50,000 – $99,000, and Royal Caribbean Premier Cruise, Ultimate Samsung Entertainment Package and Solana Portable Spa for $100,000 – $250,000 deposits. There are more gifts in store, depending on the amount deposited and the CD term availed.

About Flushing Savings Bank

Flushing Financial Corporation is the parent holding company for Flushing Savings Bank and iGoBanking. The bank is located in Queens, Brooklyn, Manhattan and Nassau County but was able to widen its reach with the opening of their online arm. FSB is insured by the FDIC.

These gifts from Flushing Savings Bank are sure to be part of your wishlist this Christmas. So instead of going out and buying them, you can get them for free in addition to the investment you’ve just made. Promo ends on November 28, 2011.

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Patelco Credit Union Surpasses All CD Rates with 5.00% on 1 Year CD

By BankAim · Comments (0)
Wednesday, November 16th, 2011

For those who are still searching for the best CD rates available, it seems your search has come to an end. Patelco Credit Union is offering one of the highest CD rates available whether from banks or from credit unions. Patelco Credit Union is currently giving away a soaring rate of 5.00% on a 1 year CD. Right now, the highest 1 year CD rate available from banks is at 1.15% from Popular Bank and Doral Bank, while the highest 1 year CD from a credit union is from Alliant Credit Union with 1.20%.

Where’s The Catch?

For a rate as colossal such as this, we would probably end up asking, what’s the catch? Well, the rate is only available for new members, which is why it is called the New Member CD. This CD only comes with a 12 month term, with a $1,000 minimum opening balance and a maximum of also $1,000. This low ceiling rate for their CD can limit investors to putting only just as much money.

Other things to notice is that the credit union’s regular CD rates are below average as compared to the leading CD rates from other financial institutions. Their regular 12 year CD is only at 0.25%, while their 60 month CD is at 1.61% APY. Better rates can be found from other banks or credit unions.

Patelco Credit Union Membership

Credit unions are notorious for their exclusive membership, serving only those who work in the same company, or live in the same area. Their community includes California counties and California cities, and also if you are an employee or pensioner of one of the 1100 companies served by Patelco Credit Union. However, those who do not meet this eligibility criteria may still become a member of Patelco CU by joining the Community Association for Engaging Youth or CAFE-Y.

About Patelco Credit Union

The credit union was formed in 1936 as a means to serve the employees of their company, Pacific Telephone and Telegraph Company. Before their initial assets had a total of a mere $500, but now, with over 290,000 members, the credit union has grown to have over $3.7 billion in assets.

Despite a few disadvantages such as the limit on the amount invested, and the relatively low regular CD rates, it can’t be denied that the rate of the New Member CD still tops every other rate by a far stretch. For those who just have the right amount of cash to invest, and who aren’t a member of Patelco CU yet, now may be the perfect time to catch the biggest earnings on your $1,000 for a 1 year CD.

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iGoBanking Gives Best 60 month CD at 2.25%

By BankAim · Comments (0)
Tuesday, November 15th, 2011

It seems that iGoBanking.com has awoken with some ridiculously high CD rates that trumps all other rates being offered by other banks. iGoBanking is currently holding the top rates for the 5 year CD category with a 2.25% APY. That’s not all, it also gives competitive rates for other CD term categories. Below are iGoBanking.com’s available rates for different term CDs.

iGoBanking.com CD Rates

3 month CD – 0.15% APY
6 month CD – 0.15% APY
8 month CD – 0.15% APY
9 month CD – 0.15% APY
12 month CD – 0.15% APY
13 month CD – 0.15% APY
15 month CD – 0.15% APY
18 month CD – 0.15% APY
24 month CD – 1.25% APY
36 month CD – 1.70% APY
48 month CD – 1.00% APY
60 month CD -2.25% APY
7 year CD – 1.35% APY
10 year CD – 1.75% APY

How These Rates Compare

It is surprising how iGoBanking is offering the same rate starting from their 3 month CD all the way to their 18 month CD. Competitive rates only start from their 24 month, or 2 year CD. Right now, their 2 year CD at 1.25% is still lower than the highest nationally available which is from CIT Bank and AloStar Bank of Commerce at a 1.30% APY. However, iGoBanking.com leads the way in long term CDs such as their 3 year and 5 year CD which are the highest nationally available from banks.

The only other institutions that give out better long term rates are from credit unions. Melrose credit union is offering the 5 year CD at 2.68%, and the 3 year CD at 1.91%. Fairwinds Credit Union is also giving a 2.33% APY on a 5 year CD.

About iGoBanking

iGoBanking is the online arm of Flushing Savings Bank that allows consumers to make deposits and transactions easily through their personal computer. Flushing Savings Bank has been in business since 1929 and it is an FDIC insured institution, insuring savings to the maximum of $250,000 per account.

For those who are looking for places to park their money for the long term, these rates from iGoBanking are some of the highest nationally available among banks. Managing your accounts are also made easy since everything is done online.

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Consistently High CD Rates from Melrose Credit Union

By BankAim · Comments (0)
Sunday, November 13th, 2011

Credit unions, because of the way their system works, can usually offer their depositors higher interest rates and lower mortgage payments. One of the credit unions that consistently gives competitive rates is Melrose Credit Union. During the economic dip last August, Melrose Credit Union provided some of the best rates nationally available for certificates of deposit. Until today, the credit union still offers some aggressive rates.

Melrose Credit Union Certificate of Deposit Rates

1 year – 1.15% APY
2 year – 1.41% APY
3 year – 1.91% APY
4 year – 2.17% APY
5 year – 2.68% APY

How These Rates Compare

Melrose offers some of the highest long term CDs. The highest nationally available among banks for a 5 year CD is from iGobanking.com at 2.25% APY. Despite this rate already being high, Melrose still tops it with a 2.68% APY rate. The same also rings true for a 3 year CD, the highest nationally available is still from iGobanking.com at 1.70%, but Melrose gives it at 1.91%. Melrose also offers a higher 2 year CD than the bank’s highest at 1.30% from CIT Bank and Alostar Bank of Commerce.

About Melrose Credit Union

The credit union has been in service since 1922, and today it has grown to accommodate 20,000 customers with over $1 billion in deposits. Melrose Credit Union is the 10th largest credit union in the state of New York, and is the 99th largest credit union in the nation. It is federally insured under the National Credit Union Share Insurance Fund (NCUSIF), to at least $250,000 per account by the National Credit Union Administration (NCUA).

Membership

Despite having its roots in New York, Melrose Credit Union has an open state New York Charter meaning membership is open to anyone. Regardless of where you live or work, anyone can be a member to this credit union.

In order to be member, there is a $1.00 membership fee and a minimum deposit of $25.00. individuals must provide the following requirements: a valid photo id such as Driver’s License, proof of address, and social security number.

Melrose Credit Union has consistently given out great rates, and it doesn’t look like these good rates are going to end soon. And with open membership for all, anyone can avail of the potential earnings that Melrose CDs can offer.

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Alliant Credit Union Gives Top 1 Yr CD Rate

By BankAim · Comments (0)
Monday, November 7th, 2011

Alliant Credit Union is currently offering an APY for a 1 year CD that’s hard to resist. Their 1 yr CD is boasting a 1.20% APY for balances below $25,000, and a rate of 1.30% for balances above $25,000. The credit union is also offering juicy rates on a 2 year CD, with 1.60% APY on $25,000 and below balances, and 1.70% APY on a $25,000 and above balance. Below is a summary of their CD rates with different terms.

Alliant Credit Union CD Rates Chart

*12-17 months – 1.20/1.30 % APY
*18-23 months – 1.45/1.55 % APY
*24-35 months – 1.60/1.70 % APY
*36-47 months – 1.80/1.90 % APY
*48-60 months – 2.10/2.20 % APY

(First rate for balances below $25,000 and second rate for balances above $25,000)

The Alliant CD Advantage

Aside from offering great rates, one of the good things about Alliant’s CD rates is that they have more flexible terms. Meaning, if you want to keep your money in the CD for just a little more than 1 year, you can do so without having to lock in you money for an extra year.

How the Rates Compare

The highest nationally available for 1 year CDs in banks is 1.15% from Popular Bank and Doral Bank. This rate is slightly lower than what Alliant Credit Union is offering. Alliant’s 2 year CD is also much higher than the highest available from banks which is only 1.30% from CIT Bank. This also rings true for the 5 year CD since the bank’s highest is from Discover Bank and Intervest Bank at 2.00%. However, State Department Federal Credit Union is offering a higher 5 year CD at 2.42%.

Membership

Credit Unions usually have limited membership. In this case, the union serves those who are employees or members of qualifying organizations, and those who lives or works in Chicagoland Community. However, it is possible to become a member of Alliant Credit Union by becoming a donor to Foster Care of Success, an organization that caters to the needs of foster teens around the USA who are “aging out” of the foster care system. You can join the FCS by simply making a donation of $10 or more. After becoming a member of the FCS, you can then use Alliant’s online membership application.

About Alliant Credit Union

Alliant currently ranks 6th as the largest credit union in the country. It serves over 280,000 members worlwide and holds over $7 billion in assets. Their fiscally conservative policy has allowed the union to give out $172 million in dividends to its members and capital reserves now exceed $638 million. Alliant Credit Union was formed on October 26, 1935.

With the stability of the credit union and the competitiveness of rates plus easy membership, this credit union is worth looking into.

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High CD Rates Available at State Department Federal Credit Union

By BankAim · Comments (0)
Saturday, November 5th, 2011

State Department Federal Credit Union is currently out to be competitive as it raises its rates for both CDs and IRAs this November. Among its best offers are the 2.42% APY on the 5 year CD, 2.07% APY on the 4 year CD, 1.61% APY on the 3-year CD, 1.41% APY on the 2-year CD, and even 1.21% on the jumbo CD. All of these rates are considerably higher compared to those nationally available from the banks.

CD Rates Offered by State Department Federal Credit Union:

6 month – 0.60% APY
12 month – 0.95% APY
24 month – 1.41% APY
36 month – 1.61% APY
48 month – 2.07% APY
60 month – 2.42% APY

How These Rates Compare

Currently, State Department FCU is giving away one of the highest CD rates available for long term CDs. Its 5 year CD is certainly better than the leading 5 year CD from Discover Bank and First Internet Bank of Indiana at 2.00%. It is also offering a higher 5 year CD than Fairwinds Credit Union at 2.33%. The same also rings true for their 2 year CD, with the highest available at banks being 1.30% from AloStar and CIT Bank. However, Doral Bank is still offering a higher 3 year CD at 1.65% APY, which is just slightly higher than State Department’s 1.61%.

Membership

Traditionally, Credit Unions have always been strict on their membership, opening its doors only to those who live in the same community or works in certain companies. Luckily, State Department FCU is making membership easy for all. Initial membership is open to those who are employees of the Department of State or any one of the organizations listed in their website. However, if you are not affiliated with any of them, you can easily become a member of SDFCU by joining the American Consumer Council or ACC. When opening your account at SDFCU, just choose ACC on your application and you will immediately be part of the council. There are no hidden fees or charges to join the organization.

About State Department Federal Credit Union

SDFCU was first chartered in 1935. Now, 76 years later, the credit union has grown to accommodate over 67,000 members worldwide. It currently has $1.8 billion in assets and is federally insured by the NCUA.

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Discover Bank Raises Its 5 Year CD Rate To 2%

By BankAim · Comments (0)
Friday, November 4th, 2011

It’s great to discover that CD rates are going up, and it seems that Discover Bank just topped the 5 year CD term with a 2.00% APY rate. Other banks that offer this rate is First Internet Bank of Indiana and Intervest Bank. Discover Bank is also one of those banks who offer several terms for CD’s allowing you to choose the term that fits to your investment needs. Below is a list of Discover Bank’s competitive CD Rates

Discover Bank’s CD Rates

3 month CD – 0.40% APY
6 month CD – 0.80% APY
9 month CD – 0.90% APY
12 month CD – 1.00% APY
18 month CD – 1.15% APY
24 month CD – 1.25% APY
30 month CD – 1.35% APY
3 year CD – 1.50% APY
4 year CD – 1.75% APY
5 year CD – 2.00% APY
7 year CD – 2.25% APY
10 year CD – 2.50% APY

How Does Discover Bank Compare to Other Bank’s CD’s?

First of all, let’s start with the short term CDs. The highest 3 month CD term is currently from OneWest Bank and Virtual Bank with a rate of 0.60%. This puts Discover Bank’s rate a little behind, but still competitive. Again both OneWest Bank and Virtual Bank are at the top of the 6 month term with a rate of 0.85%. Since Discover Bank’s rate is 0.80%, it’s almost comparable.

As for 1 year CDs, the leading rate for banks is 1.15% from Popular Bank. Discover is also offering this rate, but for an 18 month CD. Discover Bank is also consistently doing well with their long term CD’s since the highest for the 3 year term is from CIT Bank with 1.54%, this leaves Discover’s rate only 0.04% behind.

About Discover Bank

Discover Bank has had its roots ever since 1911, showing their experience and strength in the banking industry. Today, they manage an incredible amount of over $34 billion in deposit accounts. Discover Bank has also stayed ahead of the field with their 24/7 online banking showing that their roots may be traditionally brick and mortar, but that they can also keep up with the changing times. They also have an online security guarantee.

Discover Bank accounts are FDIC insured, meaning your money is safe up until the amount of $250,000. Aside from that, they also insure “non-interest bearing” transaction accounts to the full amount beginning from December 31, 2010 up until December 31, 2012.

With Discover Bank’s reputation and years of experience, banking with them at such generous rates should be worth your while.

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Fairwinds Credit Union Offers as High as 2.33% on 5-yr CD

By BankAim · Comments (0)
Monday, October 31st, 2011

Currently the highest 5-year CD rate being offered is by First Indiana Bank and Intervest Bank at 2.00% APY. However, at Fairwinds Credit Union you can get as high as 2.33% on a 5 year CD. Now, why is it “as high as”? First of all, the 5-year CD rate of the credit union is actually at 1.82% which isn’t so bad in itself. However, the union allows its depositors to earn a higher interest rate simply by getting some “relationship rewards” points. By doing so, you can get a rate of 2.07% on a 5 year CD, or even as high as 2.33%.

How does Relationship Rewards Work?

The Fairwinds Credit Union Relationship Rewards is simply their member loyalty program. The points that you earn in the program can allow you to bring your CD rates higher or reduce your auto loan rates. Earning points is simple, the more products and services you use, the more points you can earn. Here are the ways to earn your points:

– 2,500 points for every family member or friend referred that opens a checking account
– 250 points for every Fairwinds loans you set up on auto pay from a Fairwinds checking or savings account
– 100 points for each year of membership
– 1 point for every $1 paid in interest on loans
– 1 point for every $1 in interest or dividends earned on deposit accounts

How Can You Get A Higher CD Rate?

The Rewards Relationship program allows you to add 0.25% to 0.50% on their currently existing CD rates. By having 2,500 rewards points, you are eligible to add 0.25% to your rate, and by earning 5,000 rewards points, you can add a whopping 0.50%.

Since their 5 year CD rate is currently at 1.82%, having 2,500 reward points will give you the 2.07% rate, while having 5,000 points will earn you the highest 5 year CD rate available at 2.33%.

The same can also be done to other rates at different terms.

Fairwinds Credit Union Membership

Most of the time, the only thing that’s stopping us from joining a credit union is because of its membership eligibility. Some of their eligibility requirements include being a resident, working, or schooling at certain counties in Florida, being an employee in several companies in Florida, and being related to any account holder. Further details can be found at their website.

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