You have to become a member at FedONE before you can buy into any of their CDs. Each CD account requires a minimum deposit of $1,000.

Other FedONE CD rates:

• 12 month certificate of deposit at 1.10% APY
• 24 month certificate of deposit at 1.35% APY
• 36 month certificate of deposit at 1.35% APY

FedONE has been around since 1961 when the Justice Department of Immigration and Naturalization Services opened their own credit union stationed in San Pedro, California. Since the beginning FedONE has evolved into one of the best California credit unions, servicing the INS, Department of Justice employees who work in or are headquartered in Arizona, California, Hawaii, Nevada, the Territory of Guam, the Mariana Islands and their immediate family.

FedONE has two California locations in Laguna Niguel and Los Angeles. Be sure to check their website for all of their updated CD rates.

Danversbank from Boston was holding the top spot at 2.50% APY, but recently dropped their rate to 2.00% APY causing them to lose the highest CD rate on the market.

Melrose Credit Union is out of New York and is open to all residents throughout the United State. They have a $1 joining fee which makes all of their certificates of deposit worth looking at. Since they hold the top spot for the 12 month, 36 month and 60 month CD rates, its worth a look at. Melrose is also close to leading in the 24 month CDs category also.

To put these interest rates into perspective here is a list of the next top 3-year certificates of deposit:

• 2.19% APY from Heritage Bank located in Phoenix and Tempe, Arizona. A minimum deposit of $5,000 is required.
• 2.15% APY from Sallie Mae Bank, has no minimum deposit and is owned by the big student loan lender.
• 2.08% APY from Bank of Internet, requires a minimum deposit of $1,000.
• 2.05% APY from USAA out of Texas, requires a minimum deposit of $1,000.

All of these financial institutions take applications online and have no restrictions on who can apply.

Be sure to check out our best nationally available CD rates. CD rates can change at any moment, so be sure to verify the current rates being offered.

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.

Anyways, iGoBanking has an interest rate of 1.35% on their 3 month CD! This not only is the highest 3 Month CD we have found, but also beats the highest 6 month CD and even beats the national ‘average’ rates on the 1-year, 2-year and 3-year certificates of deposit.

iGoBanking is based out of Flushing Savings Bank in New York and is the bank’s online division.

Bankaholic has been following this rate says, “iGoBanking has stuck with this deal since late July”. With their low minimum deposit of $1,000 it’s a CD rate that many will be able to take advantage of. If you do plan on investing into a certificate of deposit, shorter termed CDs are better than longer term.

With a $1,000 deposit into iGoBanking’s 3 month CD @ 1.35%, you will earn $3.38 or on a $10,000 deposit your earnings would be about $33.79. That isn’t much in the way of earnings, but its still the best rate you will find. If you are looking to store your cash for a few months, this might be the best place to make a little interest while your money sits around.

To compare how high iGoBanking’s 3 Month CD rate really is, we have listed the next 3 banks with a minimum deposit of $10,000:

• 0.95% APY offered at VirtualBank, a division of Lydian Private Bank in Palm Beach Gardens, Fl.
• 0.90% APY offered at Goldwater Bank, out of Scottsdale, AZ.
• 0.80% APY offered at Woodlands Commercial Bank, located in Salt Lake City, UT.

(These CD rates were checked by Bankrate)

All of these banks allow anyone to buy their CDs regardless of where they live.

If you are looking for longer term CDs, be sure to check out our list of CD rates from top banking institutions.

Gateway Commercial Bank is located in Mesa, Arizona. Their board of directors understands the issues and needs of local small businesses. They are a small bank with personalized services.

You can open their 6 Month CD with a minimum deposit of $1,000. An Early Withdrawal Penalty will result by closing the CD before the end of the term. Be sure to check out their site for the newest rates as they are subject to change at any time. Since this is a small local bank to Mesa Arizona their CD’s may be more competitive than traditional banks and institutions.

We have been noticing that credit unions have been offering better deals on certificate of deposits then banks have  (see Northeast Community CU 2.50% APY on a 12 Month CD).  Although Navy Federals CD rates are not the best they do have a great starter package.

Check out the nations Best CD Rates.

It is called their EasyStart Certificate and here are the details.

• 12 month term
• 1.15% APY
• Only a $100 Minimum Deposit

With a $100 minimum deposit almost anyone, new to CD’s or not, can take advantage of this deal.  Most of the best 12 month CD rates we see have minimum deposits in the thousands.

So if you are new to certificates and do not have much money to get started this NFCU EasyStart Certificate may be a great introduction to CDs for you.

For the fine print and other details for NFCU visit here.