CD Rates Hold Steady, But For How Long?

Today the Dow dropped 634 points or down 5.55% to 10,809. This is the lowest the Dow has been since 2008 and comes after the week of the US debt ceiling hike and downgrade of the US debt from AAA to AA+ by S&P.

Today a few banks have already lowered their rates on short and long term certificates of deposits. The bright spot is, those banks were not offering any of the top CD rates, so who really cares or knows. The current list of the top CD rates has held steady… well so far. When you find a big gap between the first and second place holders of any CD rate, usually you will see a decrease coming from the top holder.

Here is an example of the top three leaders in each CD term starting with the 6 month CD rates. We added Melrose Credit Union to show how much higher their rates are, compared to normal bank rates, plus to get the Melrose Credit Union rate you have to become a member, which is open to everyone located anywhere in the US:

6 Month CDs

  • AloStar Bank of Commerce – 1.05% APY
  • AuroraBank – 1.04% APY
  • Ascencia – 1.02% APY

12 Month CDs

  • (Melrose Credit Union – 1.31% APY)
  • AloStar Bank of Commerce – 1.27% APY
  • E-Loan – 1.26% APY
  • Sallie Mae – 1.20% APY

24 Month CDs

  • (Melrose Credit Union – 1.56% APY)
  • MainStreet Bank – 1.50% APY
  • AuroraBank – 1.46% APY
  • VirtualBank – 1.46% APY * (has the lowest rating of 1 out of 5 stars on bankrate)

36 Month CDs

  • (Melrose Credit Union – 2.07% APY)
  • MainStreet Bank – 2.00% APY
  • Doral Bank – 1.80% APY
  • AuroraBank – 1.75% APY

48 Month CDs

  • MainStreet Bank – 2.50% APY
  • (Melrose Credit Union – 2.32% APY)
  • Transportation Alliance – 2.06% APY
  • American Bank – 2.00% APY

60 Month CDs

  • (Melrose Credit Union – 2.83% APY)
  • MainStreet Bank – 2.60% APY
  • First Internet Bank of Indiana – 2.40% APY
  • Discover Bank – 2.35% APY

As you can see most banks are being competitive in the rates they offer. The biggest gaps in rates are between the 36 Month CD and the 48 Month CD, which could mean these rates will be adjusted at any time.

You can find MainStreet Bank’s CD here.

For all of our best CD rates, be sure to visit our CD Rates page.


A Change On The 2 Year CD Rate

Hudson City Savings Bank held the second best 24 month certificate of deposit until it cut its rate of return from 2.00% APY to 1.75% APY on August 9th, 2010.

It is still a great CD rate but now it’s nearing the highest 12 month CDs, making its 24 month CD not as attractive as before the decrease. Since Hudson City Savings Bank cuts its 2 Year CD rate down to 1.76% APY, its no longer high enough to classify it as one of the best 2 Year CD rates.

Here is a good list of the better 2 year CDs available nationally:

  • Melrose Credit Union holds the top spot for the 2 year CD at a rate of 2.02% APY. They have one location in Queens, NY and is open to all US residents. Their 2 Year CD requires a minimum deposit of $5,000.
  • New Dominion Bank holds second place for the 2 Year CD at a rate of 2.00% APY. They have locations in Charlotte and Mooresville, NC and require a minimum deposit of $3,000.
  • Stonebridge Bank carries the third place spot with a rate of 1.90% APY. They have four branches in SE Pennsylvania and require a minimum deposit of $500.
  • Bank of Internet comes next with a rate of 1.89% APY and is an online bank, but based in San Diego. Their minimum required deposit is only $1,000.
  • Colorado Federal Savings Bank comes in 5th with a 2 Year CD rate of 1.85% APY. This is also an online based bank, located out of Greenwood Village, CO. Their minimum required deposit is $5,000.

You can find more information on the top 2 Year CD rates from our extensive CD database.


Highest CD Rates In Oklahoma City, OK – October 2009

Here is a list of the highest yielding CD (certificate of deposit) rates for the residents of Oklahoma City, OK. These CD rates will come in the form of the 6 month CDs, 12 month CDs and 24 month CDs. After going through several rate pages from local banks and credit unions serving Oklahoma City and most of Oklahoma, we have found that most rates are lower than the national average, you are better off finding national institutions than with local ones.

Keep in mind that CD rates are always changing and are time sensitive in nature, so be sure to check the date of this article for accuracy. You can always find the best national CD rates from our CD rates page.

How we came up with this list:

The highest CD rates are usually kept for the longer maturities and/or those with the highest minimum deposit and since we wanted to keep in mind that our average investor does not have loads of money stashed around, we wanted to give you more options with the best CD rates that we have found.

Highest 6 Month CD Rates In Oklahoma City, OK:

  • Sooner State Bank (The Village, OK) – 6 month CD yields 2.02% APY with a minimum deposit of $10,000.
  • Communications Federal Credit Union – 6 month CD yields 1.90% APY with a minimum deposit of $1,000.
  • WEOKIE Credit Union (Edmond, OK) – 6 month CD yields 1.87% APY with a minimum deposit of $1,000.

Highest 12 Month CD Rates In Oklahoma City, OK:

  • Midfirst Bank – a promotional 15 month CD yields 2.10% APY with a minimum deposit of $5,000.
  • Sooner State Bank – 12 month CD yields 2.07% APY with a minimum deposit of $10,000.
  • Oklahoma Employees Credit Union – 12 month CD yields 2.02% APY with a minimum deposit of $500.

Highest 24 Month CD Rates In Oklahoma City, OK:

  • Tinker Federal Credit Union (Bethany, OK) – 24 month CD yields 2.68% APY with a minimum deposit of $10,000.
  • Communications Federal Credit Union – 24 month CD yields 2.55% APY with a minimum deposit of $1,000.
  • Sooner State Bank’s – 24 month CD yields 2.53% APY with a minimum deposit of $1,000.

All of the above banks and credit unions are federally insured by either the FDIC or NCUA. Be sure to check with your bank to make sure they are still federally insured and do not give them your money if they are not. If you live in or around Oklahoma City, OK and know of better CD rates please let us know.


Highest CD Rates In Sacramento, CA – October 2009

Here is a list of the highest CD (certificate of deposit) rates available to the residents of Sacramento, California. We have compiled a list of the best CD rates for the 6 month CD, 12 month CD and 24 month CD terms. After going through many local bank rates and credit unions serving the city of Sacramento as well as Central California we have found that you will find better rates with national institutions than with your local ones.

Be mindful that CD rates are always changing and that these rates may be out of date depending on the date of this article. You can always find up to date CD rates from our CD rates page.

How we came up with this information:

As you may very well know that if you are looking for the highest CD rates you will need to look at the longer maturities such as the 60 month CD or CDs that require a high minimum deposit.

Highest 6 Month CD Rates In Sacramento, CA:

  • UFB Direct – 6 month CD yields 1.70% APY with a minimum deposit of $8,000. This is a national bank and will accept deposits from other states.
  • First Financial Bank (Sacramento branch) – A promotional 10 month CD yields 1.50% APY with a minimum deposit of $500.
  • Community Business Bank of West Sacramento – 6 month CD yields 1.45% APY with a minimum deposit of $10,000.

Highest 12 Month CD Rates In Sacramento, CA:

  • Colorado Federal Savings Bank (Sacramento branch) – 12 month CD yields 2.0% APY with a minimum deposit of $5,000.
  • Community Business Bank – 12 month CD yields 2.0% APY with a minimum deposit of $10,000.
  • iGoBanking.com – 12 month CD yields 2.0% APY with a minimum deposit of $1,000. This is an online institution with will accept deposits from any state.

Highest 24 Month CD Rates In Sacramento, CA:

  • Hudson City Savings Bank – 24 month CD yields 2.50% APY with a minimum deposit of $5,000. This bank can accept deposits from any state.
  • First Financial Bank – A promotional 25 month CD yields 2.50% APY with a minimum deposit of $10,000.
  • CitiBank (Carmichael, CA branch) – 24 month CD yields 2.25% APY with a minimum deposit of $1,000.

All of these banks and credit unions are federally insured. Make sure the bank or credit union you deposit your money to is insured by either the FDIC or NCUA. If you live in or around Sacramento, CA and you know of a better CD rate please let us know.


Highest CD Rates In Alaska – October 2009

These are the highest CD (certificate of deposit) rates we have found for the residents of Alaska. These rates are listed in the 6 month CDs, 12 month CDs and 24 month CDs. After going through many local banks and credit unions serving the cities of Anchorage, Juneau and the surrounding state of Alaska, we have found that you may find higher rates with national banks than with local ones.

Be sure to remember that these rates are time sensitive and that the information provided may be out of date depending on the date of this article. CD rates are constantly changing so we encourage you to keep up to date with our list of the best CD rates currently available.

We have put together a list of the highest paying CD rates based on the 6 month, 12 month and 24 month terms. We already know that the longer the maturity the higher the CD rate will be, but wanted to keep our list simplified.

Highest 6 Month CD Rates In Alaska, AK:

  • Nexity Bank – 6 month CD yields 1.65% APY with a minimum deposit of $1,000. This is a national bank and will accept deposits from any state.
  • Advancial Federal Credit Union (Anchorage branch) – 6 month CD yields 1.48% APY with a minimum deposit of $1,000.
  • Denali Alaskan Federal Credit Union (Juneau branch) – 6 month CD yields 1.35% APY with a minimum deposit of $500.

Highest 12 Month CD Rates In Alaska, AK:

  • Tongas Federal Credit Union (Metlakatla, AK) – 12 month CD yields 2.35% APY with a minimum deposit of $500.
  • Alps Federal Credit Union (Sitka, AK) – 12 month CD yields 2.25% APY with a minimum deposit of $500.
  • Denali Alaskan Federal Credit Union – 12 month CD yields 2.06% APY with a minimum deposit of $500.

Highest 24 Month CD Rates In Alaska, AK:

  • Hudson City Savings Bank – 24 month CD yields 2.50% APY with a  minimum deposit of $5,000. This is a national bank and will accept deposits from any state.
  • Alps Federal Credit Union – 24 month CD yields 2.32% APY with a minimum deposit of $500.
  • Denali Alaskan Federal Credit Union – 24 month CD yields 2.30% APY with a minimum deposit of $500.

All of the above banks and credit unions are federally insured by either FDIC or NCUA. Always be sure your bank or credit union is federally insured before giving them your money. If you live in or around Alaska and know of better rates please let us know.


Highest CD Rates In Denver, Colorado – October 2009

Here is a list of the best CD (certificate of deposit) rates we have found for the residents of Denver, Colorado. We have placed these rates in the 6 month CDs, 12 month CDs and 24 month CDs. After going through many local banks and credit unions we have found these to be some of the best rates available in Denver, but have also found that you may be able to receive higher rates from national institutions than with your local ones.

Keep in mind that CD rates are constantly changing and are time sensitive in nature. Be sure to check the date of this article for accuracy. You can always get the most up to date rates from our best CD rates page.

Highest 6 Month CD Rates In Denver, Colorado:

  • FirsTier Bank – 6 month CD yields 1.75% APY with a minimum deposit of $1,000.
  • Community Banks of Colorado – 6 month CD yields 1.60% APY with a minimum deposit of $1,000.
  • Mile High Banks – 6 month CD yields 1.49% APY with a minimum deposit of $1,000.

Highest 12 Month CD Rates In Denver, Colorado:

  • FirsTier Bank – 12 month CD yields 2.15% APY with a minimum deposit of $1,000.
  • Community Banks of Colorado – 12 month CD yields 2.10% APY with a minimum deposit of $1,000.
  • Bank of Denver – 12 month CD yields 2.07% APY with a minimum deposit of $5,000.

Highest 24 Month CD Rates In Denver, Colorado:

  • Red Rocks Credit Union (Littleton, CO) – 24 month CD yields 2.73% APY with a minimum deposit of $5,000.
  • FirsTier Bank – 24 month CD yields 2.50% APY with a minimum deposit of $1,000.
  • Hudson City Savings Bank – 24 month CD yields 2.50% APY with a minimum deposit of $5,000. This is a national bank and will accept deposits nationwide.

All of these banks and credit unions are federally insured with either the FDIC or the NCUA. Be sure your bank or credit union is federally insured before you deposit your funds there. If you live in Denver, Colorado or in the state of Colorado and know of better CD rates, then please let us know.


Highest CD Rates In Las Vegas, Nevada – October 2009

Here are the best CD (certificate of deposit) rates for the residents of Las Vegas, Nevada. We have put these rates in the form of the 6 month CDs, 12 month CDs and 24 month CDs. After going through many local banks and credit unions serving the city of Las Vegas as well as most of the state of Nevada, we found for the most part that you will find better rates with national institutions than with your local banks.

Keep in mind that CD rates are always changing so you will want to refer to the date of this article for accuracy. You can always get the most up to date CD rates from our national CD Rates page.

How do we choose which CDs are best?

As you may already know, the higher CD rates tend to accompany the longer maturities and/or the higher deposit minimums and therefore we wanted to give our reads options in choosing which CD is best for them. Instead of putting only information of the highest CD rates, which tend to accompany the Jumbo CDs, we have come up with a list of banks and credit unions that are easier to obtain.

Highest 6 Month CD Rates In Las Vegas, Nevada:

  • Nevada Commerce Bank – 6 month CD yields 1.77% APY with a minimum deposit of $10,000.
  • Branch Banking and Trust Company (Henderson, NV) – 6 month CD yields 1.75% APY with a minimum deposit of $1,000.
  • Nevada National Bank – 6 month CD yields 1.65% APY with a minimum deposit of $1,000.

Highest 12 Month CD Rates In Las Vegas, Nevada:

  • Black Mountain Community Bank – 12 month CD yields 2.15% APY with a minimum deposit of $1,000.
  • Bank of Las Vegas – 13 month CD yields 2.10% APY with a minimum deposit of $500.
  • Mutual of Omaha Bank – 16 month CD yields 2.10% APY with a minimum deposit of $2,500.

Highest 24 Month CD Rates In Las Vegas, Nevada:

  • Nevada Commerce Bank – 24 month CD yields 2.53% APY with a minimum deposit of $10,000.
  • Hudson City Savings Bank – 24 month CD yields 2.50% APY with a minimum deposit of $5,000. This is a national bank and will accept deposits nationwide.
  • Washington Federal Savings and Loan Association – 24 month CD yields 2.50% APY with a minimum deposit of $1,000.

All of these banks and credit unions are federally insured by either the FDIC or NCUA. Be sure you check with your bank to make sure they are federally insured and only deposit money in banks and credit unions that are insured. If you live in Las Vegas or in the state of Nevada and know of better CD rates from your local bank or credit union, then please let us know.