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Archive for NewDominion Bank

Highest 12 Month CD Rates Stay At 1.55%

Thursday, September 9th, 2010

With CD rates continuing their fall over the past few months, the 12 month CD rate has stayed at 1.55%. Not all financial sites are promoting the highest 12 month CD rate which is from Sallie Mae Bank. If you go to their certificate of deposit section you will see their graph of how much they are paying for 12 months, 36 months and 60 months which are some of the highest rates we have seen.

While most major banks and financial institutions are lowering their rates, the big student lender, Sallie Mae has stayed steady and now they are on top for the best 1 year CDs.

In February 2010 the average 12 month CD rate was sitting around 0.77% APY and now in September, is sitting around a record low of 0.61%.

Here is a list of the next best nationally available CD rates:

  • NewDominion Bank – Paying 1.51% APY with a minimum deposit of $3,000.
  • Ascencia – Paying 1.50% APY with a minimum deposit of $500.
  • Bank of Interest USA – Paying 1.48% APY with a minimum deposit of $1,000.
  • – Paying 1.46% APY with a minimum deposit of $2,500.

These banks are open to anyone within the U.S.

Be sure to compare our latest CD rates from our database of banks and other financial institutions.

Highest CD Rates For September 3 2010

Friday, September 3rd, 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.

*Term Bank September 3rd Last Week
3 Month CD iGoBanking 1.35% APY 1.35% APY
6 Month CD NewDominion Bank 1.25% APY 1.25% APY
12 Month CD Sallie Mae Bank 1.55% APY 1.55% APY
24 Month CD NewDominion Bank 1.95% APY 2.00% APY
36 Month CD Danversbank 2.50% APY 2.50% APY
60 Month CD Melrose Credit Union 3.03% APY 3.03% 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.

24 Month CD Rates Fall Below 2.00%

Wednesday, September 1st, 2010

Can it be a sign of what is ahead in the game of CD rates? Finding the highest and most worthwhile investments is becoming more difficult than in times past. Is a 2 year CD under 2.00% APY really worth the time and money? Sure a certificate of deposit will be the safest place to store your cash, but for what you get back its almost better to put the cash into an investment like real estate or a high yielding savings account.

For the sake of making this simple and using an amount that is more achievable by the average American, a $1,000, 24 month CD at 2.00% will net you $40.78 AFTER 2 years! This is more than most savings accounts, but I bet you could find a car on Craigslist, fix it up and make a profit more than $40. In fact I bet you could do that a few times within the next 2 years. The point being, is it really worth sticking your money into a 2 year CD at 2.00%? That’s the question you have to ask yourself.

Here is a list of the highest paying 24-month certificate of deposits:

  • NewDominion Bank just cut their 24 month CD rate from 2.00% to 1.95%. They are still the highest paying 24-month CD and requires a minimum deposit of $3,000.
    • With a deposit of $3,000 @ 1.95%, this certificate of deposit will net you $119.21 in two years.
  • Bank of Internet which is an online bank based in San Diego is paying 1.89% APY with a minimum deposit of $1,000.
  • Acacia Federal Savings Bank, also an online bank owned by the Acacia Life Insurance Co. is paying 1.80% APY with a minimum deposit of $500.
  • Discover Bank, an online bank by the credit card company ‘Discover’ is paying 1.80% APY on a minimum deposit of $2,500.
  • Colorado Federal Savings Bank, also an online bank located in Greenwood Village, CO is paying 1.80% APY with a minimum deposit of $5,000.

Since these are all online banks they allow anyone from anywhere to open an account and deposit funds into their certificate of deposits.

Be sure to compare the best CD rates from our database of banks and financial institutions.

Top CD Rates For August 30 2010

Monday, August 30th, 2010

CD Rates Hold SteadyThere have not been many changes to the top CD Rates in the past few months. Most banks have either lowered their short-term and long-term rates or stayed steady. Nothing has changed which can either mean one of two things. The US economy is holding steady or banks have mixed emotions on what will happen next. The Fed has stated they will step in and ‘do something’ if the US economy begins to falter. As long as the Fed keeps interest rates near zero percent, CD rates and mortgage rates will continue at their low levels.

The only certificate of deposit that has moved the most in the past few weeks is the 2 year CD.

Here are the best CDs currently available to resident’s nationwide:

  • 3 Month CD – 1.35% APY at iGobanking with a minimum deposit of $500.
  • 6 Month CD – 1.25% APY at NewDominion Bank with a minimum deposit of $3,000.
  • 12 Month CD – 1.55% APY at Sallie Mae Bank with no minimum deposit.
  • 24 Month CD – 1.95% APY at NewDominion Bank with a minimum deposit of $3,000.
  • 36 Month CD – 2.50% APY at Danversbank with a minimum deposit of $500.
  • 60 Month CD – 3.03% APY at Melrose Credit Union with a minimum deposit of $5,000.

The credit union listed in our leadership board is open to anyone in the U.S. regardless of where they live or work.

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

CD Rates Hold Firm For Week Of August 16, 2010

Monday, August 16th, 2010

CD Rates Hold SteadyCD Rates are holding steady starting off this week. There have not been any moves from the 3 Month to 5 Year CDs as the economy continues its fall, rates will stay low. CD Rates are projected to stay low until early next year, 2011. If you do get into a long term CD, ask to see if they have a one-time rate bump available, so that if rates do increase you can gain the benefits and not be stuck in an under-performing certificate of deposit.

Here are the best CDs currently available to resident’s nation wide:

Melrose Credit Union is one Credit Union that allows any U.S. resident to join with a sign up fee of $1. This makes Melrose a great option since they also have some of the Nation’s best CD rates available.

*Term August 16th Last Week
3 Month CD 1.35% 1.35%
6 Month CD 1.25% 1.25%
12 Month CD 1.76% 1.76%
24 Month CD 2.02% 2.02%
36 Month CD 2.52% 2.52%
60 Month CD 3.29% 3.29%

You can always compare the best CD rates from our database of banks and institutions to find the best options for your money.