The minimum deposit for the custom term CD is only at a fair $1,000 and it does not have a monthly service charge. OneWest Bank also gives their investors access to 24/7 online banking. The terms available are starting from three months up to 5 years. It will then be up to the depositor how long he would like to keep his money in the CD.

Also, one of the best things about this CD is that the interest is compounded daily. This means maximum earnings for their depositors. It is then paid monthly, quarterly, or at maturity. One thing that has to be noted however is that there will be no interest earned for balances below $1,000.

OneWest Bank is the largest Southern California based bank and has 78 branches located throughout the South of California. It currently has $26 billion in assets and $16 billion in deposits. Aside from their great custom CD offer, OneWest Bank is also currently offering the highest CD rates for 3-month CD’s at 0.600% followed by AloStar Bank of Commerce at 0.500%.

For those depositors who are looking for a place to park their money at lengths they can actually control, OneWest Bank is the place to go.

The online bank has been offering the best 3 month CD for some time now and is a rate available to anyone nationwide. AloStar Bank of Commerce is based out of Birmingham, Alabama.

The next best 3 month CDs go to Virtual Bank and Hudson City Savings at a rate of 0.75% APY. The difference between the two banks is the minimum deposit required. Hudson City requires a minimum deposit of $500 for local residences or $5,000 for everyone else, while Virtual Bank requires a minimum of $10,000 to achieve this rate.

Hudson City Savings has 130 locations throughout New Jersey, New York and Connecticut.

Virtual Bank is based out of Palm Beach, Florida and is the online division of Lydian Private Bank.

The next best 3 month CD drops down to 0.70% APY from OneWest Bank with a minimum deposit of $1,000. Other than these banks, the next best CD rate starts at 0.50% from Discover Bank.

All of these banks allow savers from anywhere in the United States to obtain their rates as long as you meet their minimum required deposits.

Be sure to compare the best CD rates around the nation from our CD rates database.