Top CD Rates For September 27 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

*TermBankSeptember 27thLast Week
3 Month CDGoldwater Bank0.85%0.85% APY
6 Month CDAurora Bank1.17% APY1.17% APY
12 Month CDMelrose Credit Union1.51% APY1.51% APY
24 Month CDDiscover Bank1.80% APY1.80% APY
36 Month CDDanversbank2.50% APY2.50% APY
60 Month CDMelrose Credit Union3.03% APY3.03% 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.


Goldwater Bank Offers 1 Year CD at 1.40%

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.


iGoBanking Still Trumps All CD Rates

I guess there is always a gem to be found in the realm of investing. iGoBanking has one of the highest CD rates we have seen in a long time, although rates are not on the incline yet. There has been talk of CD rates increasing in early 2011, but that will all depend on ‘if and when’ the Fed increases its interest rates.

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.