Layout Image

Archive for 1 Year CD

1.00% APY for 12-month CD Term from Justice Federal Credit Union

By BankAim · Comments (0)
Thursday, March 8th, 2012

Certificates of deposit certainly make a lot of sense for people who want a low-risk investment. You might want to save up for a new car or a new house, but don’t plan on making the purchase anytime soon. In this case, tie up your money with a credible lending institution that earns a better return for less risk.

Justice Federal credit union is one of the many companies that offer highly competitive CD rates. At its 1-year term, it gives a 1.00% APY. This type of term is most popular among the consumers, since it gives them just the right amount of buying time for interest growth, and not run the risk of losing too much money. Plus, your money is safely insured.

This one-year term is more than at par with the national average of 0.67%. Although it still lags behind other banking giants such as CIT bank’s 1.08% and Ally bank’s 1.020%, JFCU certainly comes close to these rates. This makes JFCU very competitive, ensuring you get the most out of your investment.

Here’s a look at some of their other rates:

For a 60-month term, you get a 2.25% APY.
For a 48-month term, you get a 1.80% APY.
For a 36-month term, you get a 1.50% APY.
For a 24-month term, you get a 1.20% APY.
For an 18-month term, you get a 1.10% APY.
For a 6-month term, you get a 0.60% APY.
For a 3-month term, you get a 0.45% APY.

JFCU requires a minimum deposit of only $500 once you decide to open an account with them. Upon doing so, your account will start earning the interest from which the APY is based on. The interest money, which is compounded monthly, is placed to your account every three months. At this time, you also get statements from your account to keep you updated.

Once the account reaches maturity, you can opt to withdraw all total earnings or make another investment. It all depends on your immediate needs.

Although you get to earn more when you invest in a longer-term CD, you must be sure you won’t need that amount before the full period is over – or else the penalty fees you incur may significantly slash down what you could’ve earned in full. For a 1-year CD term and less, the penalty is 90 days less of the total dividends. Meanwhile, CD terms more than a year have penalties of more than 180 days.

JCFU has branches all across the country, so check out the nearest branch to avail of their incredible CD offers.

Comments (0)
Categories : CD Rates, Credit Union
Tags : , , ,

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.

Comments (0)
Categories : CD Rates
Tags : , , ,

E-Loan Holds Highest 1 Year CD At 1.26%

By BankAim · Comments (0)
Wednesday, August 3rd, 2011

The 1 Year CD rate has dropped from 1.33% down to 1.26% in just 12 days. The previous top earner was from Bank of Internet, which is now tied in second place at 1.20%.

E-Loan holds the top 12-month CD rate at 1.26% with a minimum deposit of $10,000. No other banks or financial institutions hold a rate close to E-Loan, as the next best 1 year CD goes to Sallie Mae, AuroraBank and Bank of Internet at 1.20%. Sallie Mae has no minimum deposit while both AuroraBank and Bank of Internet have a $1,000 minimum deposit.

There is one bank – First Foundation Bank that holds a 1.27% interest rate on the 12 month CD, but the minimum deposit is out of reach for the average investor at $25,000. Some might argue that tying up this amount of money for 12 months can be risky as rates can go up at a moments notice, or vice versa, rates can drop in a moments notice. For instance just 12 days ago you could have had a 1.33% 12 month CD rate.

E-Loan has an easy online application and has no fees to start. They also offer a compounded daily feature on their CDs.

Sallie Mae is tied for second place at the highest 12 month CD of 1.20%. With Sallie Mae you have no minimum deposit and they compound your interest daily.

AuroraBank and Bank of Internet also come in at 1.20% and both have a $1,000 minimum deposit. Both of these banks are rated 4 out of 5 stars with Bankrate, giving them a ‘sound’ rating. Sallie Mae and First Foundation Bank come in also at 4 out of 5 stars, while E-Loan has a 3 out of 5 star rating. Three stars means the bank is performing and usually is not an indicator of troubles.

Be sure to check our up to date CD Rates table for more accurate interest rates. Rates can change on a daily basis. You may also want to consider that each term serves as a lock in period for the specific interest rate. If you wish to withdraw your money before your term is up, you will be charged a penalty and fees. Be sure to read the fine print on each Bank’s CD terms. If the bank has an auto renew feature, you could be locked into an extra term you did not really want.

Comments (0)
Categories : CD Rates
Tags : , , , , , ,

MetLife Moves To Top 1 Year CD Rates

By BankAim · Comments (0)
Friday, November 5th, 2010

MetLife moves up to being the second best 12 month CD rate available with some stipulations. The top 12 month CD rate goes to Melrose Credit Union at 1.51% with a minimum deposit of $5,000, but closely behind Melrose is MetLife at 1.45% with a steep $25,000 minimum.

MetLife’s top rate of 1.45% APY is definitely worth second place, but this online bank owned by the big insurance company requires a large investment to earn the 1.45%.

If you invest less than $15,000 in their 1 Year CD, you will earn 1.00% APY and 1.35% APY for investments of $15,000-$24,999. Any investment above $25,000 will earn you the top rate of 1.45% for the 12 months.

Melrose Credit Union still holds the top spot of the 12 month CDs at 1.51% APY, with a much smaller minimum deposit required.

Other best available CD rates include:

  • Bank of Internet at 1.41% APY with a minimum deposit of $1,000. This online bank is out of San Diego, CA.
  • Sallie Mae Bank at 1.40% APY with no minimum deposit and is owned by the big student loan lender Sallie Mae.
  • Ascencia at 1.40% APY with a minimum deposit of $500. This is an online division of PBI Bank in Louisville, KY.

All of these financial institutions have no restrictions on who can buy into their CDs. Melrose Credit Union allows anyone, anywhere to join by filling out an application and pay their $1 fee.

CD rates are always adjusting, so be sure to compare and find the best CD rates from our database of banks and credit unions.

Comments (0)
Categories : CD Rates
Tags : , , , , , , , , , , ,

Melrose Credit Union Holds Top Spot For 1 Year CD Rate

By BankAim · Comments (0)
Friday, October 22nd, 2010

Melrose Credit Union located in Queens New York holds the top spot for the 12 Month CD rate at 1.51% APY. Melrose is a Credit Union open to all residents and only requires a $1 application fee. Since Melrose came on the scene they have kept the top spot for many of the CD rates we track. They are currently in a dead heat against iGoBanking, a division of Flushing Savings Bank also located in New York.

Not only do both of these financial institutions hold the top spot for many CDs, but they blow away the national average (0.59% APY – 1 year CD) for any certificate of deposit on the market today. In a struggling economy it’s difficult to find a decent rate of any kind, unless if you are planning on refinancing your mortgage or buying a house. Mortgage rates are falling to all time lows, which are good for people in the home buying market, but rates in the savings market are dismal.

The next best CD rates for the 1 year term are as follows:

  • 1.48% APY from Bank of Internet, with a minimum deposit of $1,000.
  • 1.45% APY from MetLife Bank, with a minimum deposit of $25,000.
  • 1.40% APY from Ascencia, with a minimum deposit of $500.

As the economy strengthens and interest rates increase, so should CD rates. All eyes are on what will happen next year and whether CD rates will increase in 2011, only time will tell.

Comments (0)
Categories : CD Rates
Tags : , , , , , , ,

Goldwater Bank Offers 1 Year CD at 1.40%

By BankAim · Comments (0)
Sunday, September 19th, 2010

Goldwater Bank is offering a 1 Year CD rate of 1.40% APY. A certificate of deposit guarantees you the rate that you lock in when applying for the CD. The certificate of deposit is also insured by the FDIC, so your money is safe.

With Goldwater Bank, a minimum of $10,000 is required to earn the 1.40% APY. Every CD is subject to an early withdrawal penalty if you decide to close the CD or take money out early. CD rates are subject to change at any time.

Goldwater Bank is located in Scottsdale, Arizona and offers its customers online and mobile banking. They deliver financial products and services, “honestly and with common sense and humility”. There is no big bank feel and with a strong commitment to their community and customers, you are sure to be taken care of.

Comments (0)
Categories : Bank Info, CD Rates
Tags : , , , ,

Highest CD Rates In Minneapolis, MN – October 2009

By BankAim · Comments (0)
Monday, October 26th, 2009

These are the highest CD (certificate of deposit) rates for the residents of Minneapolis, Minnesota. These rates are in the form of 6 month CDs, 12 month CDs and 24 month CDs. After going through many rates from local banks and credit unions serving Minneapolis as well as the whole state of Minnesota, we found that you will find slightly higher rates from national institutions or online banks.

Remember that CD rates are ever changing, so the rates posted below may be out of date depending on the date of this article. Be sure to check out the most current CD rates from national banks.

As you may know, the longer the maturity date of a CD, the higher the interest rate you will find. Since we did not want to strictly list the highest yielding CDs, we have posted the best rates we have found for the specified time periods.

Highest 6 Month CD Rates In Minneapolis, MN:

  • People’s Bank of Commerce (Edina, MN) – promotional 7 month CD yields 1.90% APY with a minimum deposit of $5,000.
  • TruStone Financial – 6 month CD yields 1.86% APY with a minimum deposit of $500.
  • Union Bank and Trust – 6 month CD yields 1.76% APY with a minimum deposit of $10,000.

Highest 12 Month CD Rates In Minneapolis, MN:

  • TruStone Financial – 12 month CD yields 2.27% APY with a minimum deposit of $500.
  • HiWay Federal Credit Union (St. Paul, MN) – 12 month CD yields 2.10% APY with a minimum deposit of $10,000.
  • Vision Bank (Saint Louis Park, MN) – 12 month CD yields 2.07% APY with a minimum deposit of $1,000.

Highest 24 Month CD Rates In Minneapolis, MN:

  • Hudson City Savings Bank – 24 month CD yields 2.50% APY with a minimum deposit of $5,000. This is a national bank and can accept deposits from any state.
  • 1st Regents Bank (Blaine, MN) – 24 month CD yields 2.50% APY with a minimum deposit of $10,000.
  • HiWay Federal Credit Union – 24 month CD yields 2.50% APY with a minimum deposit of $5,000.

All of the above institutions are federally insured by the FDIC or NCUA. Be sure you make sure that the bank or credit union you deposit your month with is federally insured. If you live in or around Minneapolis, MN and know of better CD rates please let us know.

Comments (0)
Categories : CD Rates
Tags : , , , , ,

Highest 12 Month CD Rates At 2.25% – October 2009

By BankAim · Comments (0)
Wednesday, October 21st, 2009

Highest 12 Month CD Rates – October 2009

The current highest 12 month CD rates (certificates of deposit) that are nationally available are currently paying up to 2.25% APY. Depending on where you live in the US, you might be able to find slightly higher interest rates than the national average.

The winner of the top 12 month CD rates currently goes to ING Direct at 2.25% APY. Most new CDs must be funded with new month to get the rate advertised. This is a way for the banks to get new money to lend or to create a cushion for their bank. New money is important to any bank and their financial well being. With their 12 month CD paying 2.25% APY, you will might be able to find local rates in your area higher than ING Direct’s CD rates. If you have an account with ING Direct and wish to transfer funds to this new CD, or if your current CD just matured you can still transfer money over and get a rate of 2.10% APY for the 12 month term.

The next best 1 year CD rate that is available nationally goes to UmbrellaBank which yields 2.06% APY. To get this rate you will need to deposit a minimum of $1,000, which is pretty low compared to some opening balances required for the higher paying CDs.

Discover Bank comes in 3rd with a rate of 2.0% APY on their 12 month CD and also they are throwing in a sign up cash bonus of $25.00. The minimum deposit to open this account is $2,500 and depending on how much you put in at first the sign up bonus could equal close to 1.0% more to the earnings of this 12 month CD.

If you know of other higher paying CD rates for October 2009 please let us know!

Comments (0)
Categories : CD Rates
Tags : , , ,

Amboy Direct Offers 2.10% APY On 1 Year CD

By BankAim · Comments (0)
Thursday, October 15th, 2009

Amboy Direct another online banking site is offering a 2.10% APY 1 Year CD for balances over $10,000, called the eSavings CD. The minimum opening deposit is a mere $100 but the CD rate drops to 1%. Any deposit over $10,000 will lock your rate at the 2.10% level, plus the great thing about AmboyDirect is that you can add to the CD within the first 6 months! So if you start off with a deposit of $10,000 you can continue adding to it like a savings account with much higher interest. Most certificate of deposits do not allow you to continue adding to the balance, so if you came across more cash you would have to open another CD. With the eSavings CD it makes saving so much easier and the maximum deposit you can have is $100,000 for the CD. Visit Amboy Direct here.

How To Start With Amboy Direct

Amboy Direct makes it easy to get started by having an online application form and if you are already an Amboy Direct customer you will still have to fill out the application. As soon as you submit the application your cd rate is locked at the current offering which is 2.10%. As soon as the cd matures it is converted over to an eSavings account automatically unless if you ask for it to be renewed, making it that much easier to manage your savings.

It’s important to find out about any early withdrawal penalty on any CD that you get. With Amboy Direct their early withdrawal penalty is only 3 months’ interest (unlike Chases’ massive penalties that you can read about here). A great strategy for this type of CD is to start with $100, then watch to see how rates increase over the next few months and if the 2.10% is still a competitive rate, then bump up your balance over the $10,000 mark to get the 2.10% APY. If rates increase past 2.10% then start another CD at the higher rate and go from there. Just remember you have 6 months to add to your eSavings CD.

Watch out for possible issues with Amboy Direct as they currently have 1 out of 5 stars for soundness rating from bankrate, so be careful and do not go over the FDIC’s $250,000 limit to protect your money in case of a bank failure.

Comments (0)
Categories : CD Rates
Tags : , , , , ,
Layout Image