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Archive for Aurora Bank

Aurora Bank CD Rates Review Delaware

Monday, September 26th, 2011

Aurora Bank is currently holding the top position when it comes to 6 month CD’s. With a 1.00% APY, it has beaten the usual top contender which is AloStar Bank of Commerce which is at 0.90%. Aside from that, it also gives the highest rate for 24 month or 2 year CDs, making it a great place to safely invest your money.

Aurora Bank also offers other CD terms that offer competitive rates. With the current status of the economy, more and more investors are looking towards certificates of deposits as a safe haven for their money. Although these investors are more focused on capital preservation rather than growth, placing their money in the highest earning CD will allow them to hit two birds in one stone.

Other CD Rates from Aurora Bank are as follows:

6 month CD – 1.00% APY (Highest of all 6 month CDs)
12 month CD – 1.160% APY
18 months CD – 1.240% APY
24 month CD – 1.350% APY (Highest of all 2 year CDs)
36 month CD – 1.570% APY
48 month CD – 1.780% APY
60 month CD – 2.100% APY

Aside from attaining the top spot for 6 month and 2 year CDs, Aurora Bank is also doing fairly well when it comes to the other CD rates. The current top contender for 1 year CD’s is Sallie Mae at 1.20%, which shows that Aurora Bank’s rate isn’t too far behind.

The top contender for 5 year CD’s is First Internet Bank of Indiana at 2.20%. Although Aurora Bank’s rate is relatively lower, it is still much higher than the national average which is going at 1.31%.

Aurora Bank has its headquarters in Wilmington, Delaware and has been in business for 85 years. Today, it delivers its service to over 320,000 customers. Aside from CD rates, they also offer a wide range of banking services from personal needs to business affairs. The bank is also a member of the Federal Home Loan Bank System and deposits are insured to the maximum amount allowed by the FDIC.

E-Loan Holds Highest 1 Year CD At 1.26%

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.

CD Rates Continue Their Slide Down, But For How Long?

Thursday, June 23rd, 2011

Over the past few years interest rates have fallen to record lows. Low interest rates are good if you are in the market to buy a house, refinance your current mortgage or car loan, but for most of us we have seen our interest rates increase on our credit cards (Thank you CitiCards for the increased rate from 14% to 29.99%, even though I have perfect credit and never missed a payment) and our interest rates fall on our certificate of deposits, to record lows.

By taking a look back just a few months we can see that interest rates are still falling. We reported on February 22, 2011 that Walden Savings Bank had a 6 Month CD at 0.75% with a minimum deposit of $1,000. That same certificate of deposit sits at 0.60% for the 6 Month term. We also reported on April 6th, 2011 that Aurora Bank had the current best 1 year CD rate at 1.25%. Now just over two months later that same CD from Aurora is down to 1.21%.

Even the longer term CD’s are seeing drops in interest rates. The 24 Month CD from SalemFive ($10,000 minimum deposit) has dropped from 1.75% on February 21st 2011 to 1.30% on June 23rd 2011. Most major banks have been lowering their rates, while many credit unions such as Melrose Credit Union out of New York has held their rates steady for the most part. Melrose’s 2 year CD has been at 1.66% APY since February. In fact Melrose holds the top spot for the 24 month CD at 1.66% with a minimum deposit of $5,000. This is a credit union that has opened its door’s to anyone located within the USA. You will want to visit their website to view their terms and conditions for opening an account.

Thus far CD rates have fallen throughout the year, while some have held steady. If you plan on investing money into any CD, its best to research as much as you can before making a decision on which bank and term to go with. You can easily find a list of the best CD rates from our CD Rate table for your research. In an unstable economy, rates can continue to fall, so it could be wise to put your money in a higher interest, longer term CD or it could be just as bad to be stuck in a CD with a low interest rate while CD rates increase.

*We cannot make any financial advise and take no responsibility for the actions people take from visiting our website. Please consult your financial advisor before making any investment decisions.

Highest CD Rate From Aurora Bank – April 2011

Wednesday, April 6th, 2011

This April, Aurora Bank leads the pack as they offer the highest interest rate for a 12-month CD. With a 1.25% APY, Aurora Bank is giving the best rate yet for this month.

12 month CD’s gives you the most sensible comparison on just how much you can earn when you put your money in a CD rather than in a savings account. Right now, Aurora Bank savings account rates gives a 0.90% APY, a far cry from the 1.25% they can give you with a CD.

For a 12 month CD, Aurora Bank requires a $1,000.00 minimum deposit. However, if you deposit bigger amounts, higher interest rates are adjusted accordingly. Other CD terms offered by the bank are 6 month CD’s at 1.07%, 18 months at 1.38%, 24 months at 1.5%, 36 months at 1.81%, 48 months at 2.05% and 60 months at 2.39%.

Other banks that are also giving away high CD rates at this time of the year is Ally Bank at 1.24% APY, Discover Bank at 1.20% APY, Ever Bank at 1.01% APY, and SallieMae at 1.00% APY.

Aurora Bank has been into consumer banking for 85 years, with headquarters at Wilmington Delaware. The bank services over 340,000 customers and offers a wide range of services from checking accounts, savings accounts, money market, certificates of deposit, loans, and many more.

Melrose Back On Top Of 2 Year CD Rate

Sunday, December 5th, 2010

That was fast! It only took a few days and no work on Melrose Credit Union’s part, but they are now back on top of the 2 year CD rate. Bank of Internet lowered their 24 month CD rate to 1.60%, causing Melrose to take the lead once again.

It seems like a bank would want to hold on to the top spot of any CD rate terms, even if it was just for a week, but it only took a matter of a few days before Bank of Internet decided to lower their rates.

The next best 24 month CD rate goes to Stonebridge Bank which is rated 1 out of 5 stars from Bankrate, which means ‘Lowest Rated’. That does not necessarily mean the bank is failing, but can give a good indication on how well the bank is performing. As long as the bank is FDIC insured, your money will be safe up to $250,000.

Here are the most up to date 24 month CD rates after Melrose:

These banks offer no restrictions on who can open an account and invest into their certificate of deposits. Melrose Credit Union has no restrictions on who can apply for their credit union and only charges a $1 fee.

Be sure to check our CD Rates page for the most up to date information.

Best CD Rates For October 18 2010

Monday, October 18th, 2010

Long term interest rates are getting ready to drop again if the Fed has its way with buying billions of dollars worth of Treasury bonds. The buying of bonds will allow interest rates to continue their downward spiral in an attempt to stimulate the economy. By lowering long term interest rates it would stimulate buying and spending and help to reduce unemployment. The Fed wants to boost the inflation rate because of falling prices and wages which is being viewed as a more dangerous threat to the economy.

The meeting is set for November 2-3, 2010.

There have been no other changes to the best available CD rates since our last update.

The best 12 month CD rate still goes to Melrose Credit Union at 1.51% APY.

*Term Bank October 18 Last Week
3 Month CD Nexity Bank 0.86% 0.86% APY
6 Month CD Aurora Bank 1.15% APY 1.15% APY
12 Month CD Melrose Credit Union 1.51% APY 1.51% APY
24 Month CD Bank of Internet 1.79% APY 1.79% APY
36 Month CD Melrose Credit Union 2.27% APY 2.27% APY
60 Month CD Melrose Credit Union 3.03% APY 3.03% APY

Ally Bank Moves To Top Of The 6 Month CD Rates

Friday, October 15th, 2010

Ally Bank is now offering one of the top 6 month CD Rates at 1.10% APY with no minimum deposit. They come in just behind Aurora Bank which is offering the top 6 month CD at a rate of 1.15% APY with a minimum deposit of $0.

Ally Bank is one of the highest rated banks according to Bankrate and offers some of the best CD rates on the market. Ally Bank also offers a Ten Day Best Rate Guarantee, which means that if the interest rates increase within ten days of opening the certificate of deposit, you will automatically receive the higher rate for the duration of your term.

Ally Bank makes it easy to open an account and start saving with their certificates of deposit. Open your account online in any of the 50 states to get this great deal.

Be sure to check out our CD rates board for the most up to date rates.

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Top CD Rates For September 27 2010

Monday, September 27th, 2010

As the summer winds down for most of the United States, banks have stopped adjusting their CD rates. Nothing has really happened over the past few days in terms of who holds the top CD rates in the nation.

Here is our list of the top certificates of deposit for September 27, 2010

*Term Bank September 27th Last Week
3 Month CD Goldwater Bank 0.85% 0.85% APY
6 Month CD Aurora Bank 1.17% APY 1.17% APY
12 Month CD Melrose Credit Union 1.51% APY 1.51% APY
24 Month CD Discover Bank 1.80% APY 1.80% APY
36 Month CD Danversbank 2.50% APY 2.50% APY
60 Month CD Melrose Credit Union 3.03% APY 3.03% APY

These rates are available to all residents in the 50 United States and can take applications online. Be sure to check out the latest CD rates from our CD rate board.