1.15% APY for 1-year CD Rate from Keysource Commercial Bank

CD rates for this week have been slow in increasing their interest rates. But it’s a different story with Keysource Commercial Bank. It promises higher than average CD rates throughout the different maturity terms it offers.

About the Rates

One of the great things about Keysource Bank is that it offers the perfect solution for short-term certificates of deposit. A comparison from another leading short-term CD offer from Ally bank shows us their rates are very competitive on the national average.

Term – Keysource (APY) – Ally Bank (APY)
Less than – 3 months – 0.30%
3 months – 0.50% – 0.39%
6 months – 0.85% – 0.74%
9 months – 0.95% – 0.74%
12 months – 1.15% – 1.01%
18 months – 1.20% – 0.99%
24 months – 1.25%
36 months – 1.50% – 1.34%
48 months – 1.75%
60 months – 1.95% – 1.74%

It can be noted that on a national level, an APY of 0.45% for a 6-month CD and an APY of 0.74% are the average rates these days. With the offerings from Keysource Bank, one can get a better deal and roll a higher amount over to the initial deposit.

As can be observed, short-term rates seem to be the best that Keysource can offer. So if you’re planning to set aside a specified amount when an impending need comes within this year, these terms are perfect for you. While long-term rates are generally preferred, they can also cost you interest rates that remain the same despite any changes or rises in the future.

Opening an Account in Two Ways

Keysource Bank requires a minimum initial deposit to activate your CD maturity. You can either do this in person or online through their official website. However, the minimum deposit will depend on your mode of application.

If you choose to open an account in person, you need $100 in order to do so. Keysource has branches throughout North Carolina, and is widely known to be the largest bank chain in that location.

You can also open an account online. You will be asked to deposit at least $5,000 to do so. To help you along the process, you can contact a Customer Service Representative to guide you.

What Happens Next?

Once you’ve set up the account of your type, you need to leave the money in the bank for the specified period of time. After maturity, you can proceed to withdraw the whole amount, deposit and interest. If you choose reapplication, you may do so as well. This is a great opportunity for you to watch your money grow even more.

So what are you waiting for? Open an account with Keysource Commercial Bank now.


Doral Bank does well with 1.15% Annual CD Rate

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.