Higher Rates for Higher Deposits at MetLife Bank

We all want our money to work for us, and this is where interest rates work at our advantage. We all know that one of the most secure ways to make our money earn is by investing in certificates of deposit. One of the best places we can do so is at MetLife Bank.

MetLife Bank is known for solid financial services and insurance offers that they provide to their customers. They are indeed committed in making sure that they help their clients and customers build a good financial future. They also offer competitive rates to keep their clients investments on top of the market. In terms of security, MetLife is FDIC insured, ensuring their depositors money for as much as $250,000.

MetLife Certificates of Deposits

Unlike most banks where the CD rates are fixed depending on the term chosen, MetLife Bank is offering their depositors higher rates for larger deposits. For example, a three month term with a deposit of $2,000 to $14,999, can give you an APY of 0.25% whereas deposits of $15,000 to $24,999 can give a higher APY of 0.35%. Furthermore, deposits of $25,000 – $49,999 can give a rate of 0.45%. They also have jumbo CDs for deposits over $100,000 which offers an even higher rate of 0.50%, and that’s only for the three month term. For the 12 month term, a deposit of $2,000 to $14,999, can give an annual percentage yield of 0.85%, and as much as 1.05% for jumbo CDs.

With these unique tiered rates, depositors can be encouraged to save more, so they can also make the most out of their money. The other rates they have can be found in their website and for those who are interested they can simply contact MetLife and ask questions with regards to their certificates of deposits.


Metlife Bank gives highest CD rate this June

With certificates of deposit having an average yield of 0.45% this June, it’s hard to see us profiting much. But the thing is, despite this low average, there are still banks out there that can give us double that rate. One of the highest APY’s we can get this June is from Metlife Bank, with an annual percentage yield of a whopping 1.30%. Although minimum deposits for CD’s with Metlife start with as low as $2,000, only consumers with a minimum deposit of $25,000 can avail of this rate. This rate of 1.30% is for a 12 month CD. If you’re looking for other terms though, here’s the list:

All rates are Annual Percentage Yield (APY*)

1. 3 months
$2,000 – $14,999 : 0.25%
$15,000 – $24,999 : 0.35%
$25,000 – $49,999 : 0.45%

2. 6 months
$2,000 – $14,999 : 0.35%
$15,000 – $24,999 : 0.55%
$25,000 – $49,999 : 0.65%

3. 9 months
$2,000 – $14,999 : 0.40%
$15,000 – $24,999 : 0.65%
$25,000 – $49,999 : 0.70%

4. 12 months
$2,000 – $14,999 : 0.90%
$15,000 – $24,999 : 1.10%
$25,000 – $49,999 : 1.30%

5. 18 months
$2,000 – $14,999 : 1.15%
$15,000 – $24,999 : 1.25%
$25,000 – $49,999 : 1.35%

6. 24 months
$2,000 – $14,999 : 1.05%
$15,000 – $24,999 : 1.40%
$25,000 – $49,999 : 1.55%

7. 36 months
$2,000 – $14,999 : 1.50%
$15,000 – $24,999 : 1.75%
$25,000 – $49,999 : 1.90%

8. 48 months
$2,000 – $14,999 : 1.50%
$15,000 – $24,999 : 1.75%
$25,000 – $49,999 : 1.90%

9. 60 months
$2,000 – $14,999 : 1.50%
$15,000 – $24,999 : 1.75%
$25,000 – $49,999 : 1.90%

Metlife Bank is a federally chartered bank that begun in 2001. Despite it’s youth, this bank is already boasting a $10 billion in customer deposits and it is also ranked as one of the top 100 commercial banks in the United States. Aside from certificates of deposit, Metlife bank offers money market accounts, high yield savings accounts, and individual retirement accounts to help their customers get more out of their money. For those wanting to avail of loans, metlife also offers traditional mortgages of fixed-rate loans, ARM’s, flexible products for first-time homebuyers, FHA and VA loans, financing for new construction and jumbo financing of up to $2 million.

Plus, retirees of age 62 and above can benefit from their reverse mortgage program. Customer support is also present with a number of ways to contact them. Either by phone, email or a secure online contact form. Telephone services are available 24/7 enabling you to access your account balance, transaction information and even make transfers between MetLife Bank accounts. Lost or stolen ATM cards can easily be reported and you can also make ATM card PIN changes.

With the high CD rates Metlife Bank is giving out this June, there’s no need to second guess where you should put your money. Earn more with Metlife.


MetLife Moves To Top 1 Year CD Rates

MetLife moves up to being the second best 12 month CD rate available with some stipulations. The top 12 month CD rate goes to Melrose Credit Union at 1.51% with a minimum deposit of $5,000, but closely behind Melrose is MetLife at 1.45% with a steep $25,000 minimum.

MetLife’s top rate of 1.45% APY is definitely worth second place, but this online bank owned by the big insurance company requires a large investment to earn the 1.45%.

If you invest less than $15,000 in their 1 Year CD, you will earn 1.00% APY and 1.35% APY for investments of $15,000-$24,999. Any investment above $25,000 will earn you the top rate of 1.45% for the 12 months.

Melrose Credit Union still holds the top spot of the 12 month CDs at 1.51% APY, with a much smaller minimum deposit required.

Other best available CD rates include:

  • Bank of Internet at 1.41% APY with a minimum deposit of $1,000. This online bank is out of San Diego, CA.
  • Sallie Mae Bank at 1.40% APY with no minimum deposit and is owned by the big student loan lender Sallie Mae.
  • Ascencia at 1.40% APY with a minimum deposit of $500. This is an online division of PBI Bank in Louisville, KY.

All of these financial institutions have no restrictions on who can buy into their CDs. Melrose Credit Union allows anyone, anywhere to join by filling out an application and pay their $1 fee.

CD rates are always adjusting, so be sure to compare and find the best CD rates from our database of banks and credit unions.


Melrose Credit Union Holds Top Spot For 1 Year CD Rate

Melrose Credit Union located in Queens New York holds the top spot for the 12 Month CD rate at 1.51% APY. Melrose is a Credit Union open to all residents and only requires a $1 application fee. Since Melrose came on the scene they have kept the top spot for many of the CD rates we track. They are currently in a dead heat against iGoBanking, a division of Flushing Savings Bank also located in New York.

Not only do both of these financial institutions hold the top spot for many CDs, but they blow away the national average (0.59% APY – 1 year CD) for any certificate of deposit on the market today. In a struggling economy it’s difficult to find a decent rate of any kind, unless if you are planning on refinancing your mortgage or buying a house. Mortgage rates are falling to all time lows, which are good for people in the home buying market, but rates in the savings market are dismal.

The next best CD rates for the 1 year term are as follows:

  • 1.48% APY from Bank of Internet, with a minimum deposit of $1,000.
  • 1.45% APY from MetLife Bank, with a minimum deposit of $25,000.
  • 1.40% APY from Ascencia, with a minimum deposit of $500.

As the economy strengthens and interest rates increase, so should CD rates. All eyes are on what will happen next year and whether CD rates will increase in 2011, only time will tell.