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Archive for iowa

Federation Bank Offers 24 Month CD Rate at 1.71% APY

Friday, September 24th, 2010

If you are into saving for the long haul then a certificate of deposit for no less than a 2 year term, might be for you. Longer term CD rates will pay the highest interest, which is still vastly lower than just a few years ago. A two year CD from Federation Bank is paying a rate of 1.71% APY.

The great aspect of this CD is the low minimum deposit of $500. Some certificates of deposit require a much higher minimum, forcing many people to look elsewhere.

Federation Bank is located in the great state of Iowa and branches can be found in Brighton, Wellman, Richman and two in Washington. In 2003 Washington Federal and Rubio Savings Bank merged to form Federation Bank, while Rubio Savings has been around since 1906. This is a bank that is well developed and offers other great services other than their excellent CD rates. Be sure to visit a branch location nearest you for other CD rate offers.

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Ally Bank Best CD Rates

Tuesday, July 27th, 2010

Ally Bank has many options for the average investor. They offer some of the most competitive CD rates on the market today. Ally Bank offers certificate of deposits from 3 months to as long as 60 month (5 Years). Ally Bank also offers a ‘Raise Your Rate CD’ and they also have a ‘No Penalty CD’, meaning that you can close the CD without paying part of your interest back. One of the issues with longer term CDs is that if you want to close the CD early, you will have to pay an ‘Early Withdrawal Penalty’ for taking your money out. Here is a list of the most common CD Early Withdrawal Penalties:

  • 30 days = All Interest
  • 2-18 Month CDs = 3 Months Interest
  • 2 Years+ CDs = 6 Months Interest

Some banks have stricter penalties, so be sure to read the fine print!

Ally Bank’s No Penalty CD is only available in the 11 Month term, with a current rate of 1.35 percent. This is a pretty good rate since you can take your money out at any time after the first 6 days without paying a penalty. This 11 Month CD currently beats many 12 Month CDs from major banks, Credit Unions are the exception.

Ally Bank’s Raise Your Rate CD is only available for the 2 Year term, with a rate of 1.92%. With this CD, you have the option of raising your rate once within the 2 year term. If rates go higher than 1.92% you can bump your interest rate up to the higher level.

Here is a list of all of Ally Bank’s CD Rates:

CD Rates are constantly changing, so to find the most up to date rates, visit