0.95% APY for 1 Yr CD from Colorado Federal Savings Bank

The rise and fall of CD rates are often unpredictable. However, the past week has seen some steady flow, with bank CD rates of 0.99% – 1.00%. The money market has been responding well despite the ongoing European crisis, and keeping rates steady is the next best thing to having the high interest rates which we can only hope for.

The Colorado Federal Savings Bank is among these few banks that provide stability. With their offering of 0.95% APY from a single issuance of a CD account, you can expect high returns for your savings. As of today, the Colorado Federal Savings Bank goes on a head-on race with other big leaders on CD offers, such as Ally Bank’s 0.99% offering, and even Sallie Mae’s 1.00% APY. This competitive rate can assure depositors they won’t feel cheated out of their money, and let them expect great savings as well.

What It Offers

Any certificate of deposit account starts with an initial amount. Colorado Federal Savings Bank requires a minimum deposit amount of $5,000, in which your yearly interest is based on. And since your money is compounded daily, you can expect greater returns and bigger growth to your money, as opposed to those which are compounded on a weekly, monthly, or even quarterly basis.

Once you’ve locked in your amount, you can expect any of the following APY rates for your money:

6 month CD = 0.75%
1 year CD = 0.95%
18 month CD = 1.00%
2 year CD = 1.10%
3 year CD = 1.35%
5 year CD = 1.80%

Within your preferred time of maturity for your money, the funds will remain inaccessible. The choice of which maturity period you intend to go for rests in you, but these funds remain inaccessible throughout the whole maturity period. Every depositor is insured at least $250,00 by the FDIC, so you feel financially secured in spite of unforeseen and uneventful events. No service fees are collected for any online banking access, nor are there any monthly maintenance fees. However, early withdrawals are subjected to penalties.

You can open an account online, as long as you are able to submit basic identification requirements. Once your application gets approved, funds are expected to be deposited within ten days from application. Failure to do so will result in the forfeiting of your application.

Open an account with Colorado Federal Savings Bank today and watch your money grow exponentially.


Who Is Offering The Highest CD Rates?

If you are looking for the highest CD rates being offered today, you won’t find them at your local bank or at any major bank. Most of the highest CD rates are being offered at local credit unions. This makes it almost impossible for the average investor to get ahold of these rates. Reason being, you have to be a member of the credit union offering the rate. Most Credit Unions only allow specific people to join their union, whether it be school teachers, military personnel and family members or employers of major companies. Not only do you have to be a member but also most of the time you have to fulfill a list of requirements to be a member.

Melrose Credit Union has been one of the best credit unions to join who also consistently has the highest CD Rates offered. Here are the rates being offered through Melrose Credit Union:

  • 12 Month CD – 1.31% APY
  • 24 Month CD – 1.56% APY
  • 36 Month CD – 2.07% APY
  • 48 Month CD – 2.32% APY
  • 60 Month CD – 2.83% APY

These CD rates are higher than what you will find at any major bank. One year ago we posted these rates from Melrose, which you can see have dropped about one half of a percentage point.

(Reported August 2010)

  • 12 Month CD Rate – 1.76% APY
  • 2 Year CD Rate – 2.02% APY
  • 3 Year CD Rate – 2.52% APY
  • 5 Year CD Rate – 3.29% APY

To get into the Melrose Credit Union you have to fill out the registration form and pay $1. Once accepted you can then deposit the minimum of $5,000 to start earning the highest rates being offered today. Your earning will be compounded quarterly and if you decide to withdraw your money early, you will end up paying an early withdrawal penalty.

There are other credit unions offering decent CD rates but some will be harder to get into. Some have higher requirements, such as having a specific number of transactions each month using a debit card or having a direct deposit set up to your account. If you do not mind these little hassles then it’s probably better to go with a Credit Union than with a bank for investing in CDs right now. Melrose is also NCUA insured (this is the Credit Union’s FDIC insurance).


E-Loan Holds Highest 1 Year CD At 1.26%

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.


Bank of Internet USA Gives Highest CD Rate at 1.33%

The highest CD rates for this month of July goes to Bank of Internet USA with a 1-year CD rate of 1.33%. This rate is higher than the usual contenders, Ally Bank and Aurora Bank. Following closely at second is AloStar Bank of Commerce with a CD rate of 1.270%. This rate is compounded daily with a $1,000 minimum deposit. Coming at third is E-LOAN with a rate of 1.26% and a minimum deposit of $10,000.

Bank of Internet USA gives a competitive rate plus a daily compounding feature which gives your money the best potential for growth. Also, the minimum deposit is only $1,000.

Other rates from Bank of Internet is their 3 month CD at 0.350%, 6 month CD at 1.150%, 24 month CD at 1.50%, 36 month CD at 1.860%, 48 month CD at 2.110%, and 60 month CD at 2.490%.

Other features of this account includes free electronic transfer of interest, auto renewal within a 10 day grace period, available living trust account ownerships and FDIC Insurance.

The bank’s name is exactly what it represents. Bank of Internet USA offers the usual banking experience entirely through the comfort of your home and your computer. In this way, Bank of Internet has lower transaction costs, allowing them to give back to their clients with higher interest rates.

Bank of Internet USA is FDIC insured meaning depositors with amounts of $250,000 and less can sleep easy without fear of losing their money if ever the bank gets into trouble and closes.

With headquarters in San Diego, California Bank of Internet USA has been in service for 12 years, starting their business in 1999.

Some general things to remember about CD accounts though is that each term serves as a lock in period. Whenever you feel the need to withdraw your money before the term is up, you could be charged with penalties and fees. Also, auto renewal can get you an extra term you don’t really want to have. Penalties for early withdrawal are not stated in the Bank of Internet website. This information could be obtained by calling customer support.


Navy Federal Credit Union Offers Highest CD Rate at 3.5%

With the best CD rates banks are offering at 1.35%, finding a certificate of deposit with an annual interest rate of 3.5% can be startling. But indeed it can be done. The Navy Federal Credit Union is offering a chunky interest rate of 3.5% in their 12-year certificate of deposit.

If this already sounds too good to be true, it gets even better. The Navy Federal Credit Union is only imposing a minimum deposit of $50. Plus your money will be compounded daily. That means more earnings for the depositor. The only tricky thing to this is, whether who can open an account.

The Navy Federal Credit Union does have some requirements when it comes to membership. Only those who have served in the Army, Air force, Department of Defense and of course, the Navy can be eligible. However, this membership also extends to family members. And once these family members have joined, or opened an account, they too will be able to extend the membership opportunity to their family members as well.

Since 1933, Navy Federal has grown from having seven members to three million. It’s vision statement clearly reflects that they are friendly to their depositors, holding close to their saying: “You can leave the military, change employers, move, retire, get married—and never have to leave Navy Federal. “Once a member, always a member.”

The Navy Federal Credit Union also offers different certificate of deposit packages which depositors can choose from. It offers the special, standard, low minimum, jumbo and IRA packages. The IRA certificate aims to help members plan for their retirement, and to help them reach their financial goals. Aside from certificates, the Navy Federal offers a wide range of services, ranging from mortgages, money markets, credit cards, retirement and insurance, and even gift cards.

Considering the slight exclusivity of membership, those who are eligible are lucky to be able to take advantage of the 3.5% CD. Having a rate that high at this time is certainly a feat, one that only Navy Federal can accomplish.


Highest CD Rates For September 7 2010

Not much changed over the weekend as this past Monday was Labor Day in the States. The same banking institutions from our September CD Rates post are still on the board.

With that said here are the highest CD rates being offered nationally as of September 7th, 2010:

*TermBankSeptember 7thLast Week
3 Month CDiGoBanking1.35% APY1.35% APY
6 Month CDNewDominion Bank1.25% APY1.25% APY
12 Month CDSallie Mae Bank1.55% APY1.55% APY
24 Month CDNewDominion Bank1.95% APY2.00% APY
36 Month CDDanversbank2.50% APY2.50% APY
60 Month CDMelrose Credit Union3.03% APY3.03% APY

Melrose Credit Union is on the list because they allow anyone, anywhere to register for their Credit Union. The fee for joining is $1.00 and they have some of the nation’s highest CD rates.


Highest CD Rates For September 3 2010

We are heading into Labor Day weekend, a three day holiday for most Americans. Nothing has really changed from the highest CD rates that we are tracking. The only real change was to the 24-month certificate of deposit, which has fallen below the 2.00% level, down to 1.95% APY.

If you are looking at getting into a CD, it might be best to hold off and wait for the CD rates to increase in 2011, which is only a speculative guess and should not be taken as fact. Any long term Certificate of Deposit might be a bad idea now that rates are so low.

Always consult a certified financial adviser when making any decisions.

*TermBankSeptember 3rdLast Week
3 Month CDiGoBanking1.35% APY1.35% APY
6 Month CDNewDominion Bank1.25% APY1.25% APY
12 Month CDSallie Mae Bank1.55% APY1.55% APY
24 Month CDNewDominion Bank1.95% APY2.00% APY
36 Month CDDanversbank2.50% APY2.50% APY
60 Month CDMelrose Credit Union3.03% APY3.03% APY

You can always view the latest CD rates from our database of banks and other financial institutions that we follow from our CD rates page.


Highest 3 Month CD Rates Pay 1.22% APY – November 2009

Today the highest 3 month CD rates are sitting around 1.22% APY, which is almost half of what they where back in January. Throughout this year and over the last few months the 3 month CD rates have taken a huge slide downward.

As for a national bank that offers the highest interest rates on CD, Imperial Capital Bank from Beverly Hills, California offers the 1.22% APY with a minimum deposit of $2,000. This CD can be opened from anyone nationwide, online and takes about 15 minutes for the application process. It is easy to open this account as all you need is standard personal information such as your social security number, your address, employment information and your bank information from where you will be depositing the funds from.

Excel National Bank has the second best rate available nationally at 1.20% APY. They also have a similar application process as with Imperial Capital Bank. Excel National Bank has a much higher minimum deposit of $10,000 and also has a number of business CDs with similar yields to their personal account. They are also located in Beverly Hills, California and are open to customer nationwide.

The third best CD rate we could find for a 3 month CD is 0.75% APY and is from Danvers Bank. This bank has been around since 1850 and they specialize in online banking. With online banks, most of their customers are scattered throughout the nation. Danvers Bank controls roughly $1.70 billion in assets. They used to hold the number one spot for the 3 month CD, but since have dropped. The minimum deposit required to open this 3 month CD is $500. Danvers Bank also offers an exceptional high interest checking account with is currently paying 4.01% APY.

Each of these institutions are federally insured by the FDIC. If you know of a better 3 month CD rate that we have not covered then please let us know as we are always trying to find the best rates available. Please 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 find the most up to date CD rates from our CD Rates page.


CD Rates Reverse and Head Back Down in October

After slight increases in August and September long term CD rates (2,3 and 5 year certificates) have reversed course and have headed back down for the month of October.

Hopes have been high that the raises in August and September may have marked the end to the spiraling CD rates, but as it stands now long term rates are just barely above the record low we saw in the month of July.

The shorter term certificate of deposits have also reversed course albeit not as bad as the long term CD’s.

What does this mean for you?

It means not much has changed.  The same rules that applied for borrowing back in July and August and still the same as we head into November.  The decline in CD rates may not yet have reached its bottom, although hopes are still high that this is merely a short dip and soon the CD rates will rebound and continue to rise.

Remember the general rule of thumb: Go short when CD rates are low and you think they’re going to go up, and go long when interest rates are high and you think they’re going to go down.

CD Rates are obviously low and we are hoping they will increase.  So now may not be the best time to go long.

Here you can check out the best CD rates from banks across the country. Interest Checking Accounts may be a great alternative while CD rates are still so low.  Interest checking will allow you to have continual access to your money, and still be earning comparable interest to CD accounts.


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.

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