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.

It seems like a bank would want to hold on to the top spot of any CD rate terms, even if it was just for a week, but it only took a matter of a few days before Bank of Internet decided to lower their rates.

The next best 24 month CD rate goes to Stonebridge Bank which is rated 1 out of 5 stars from Bankrate, which means ‘Lowest Rated’. That does not necessarily mean the bank is failing, but can give a good indication on how well the bank is performing. As long as the bank is FDIC insured, your money will be safe up to $250,000.

Here are the most up to date 24 month CD rates after Melrose:

• Stonebridge Bank at 1.65% APY with a minimum deposit of $500.
• Bank of Internet at 1.60% APY with a minimum deposit of $1,000.
• Discover Bank at 1.60% APY with a minimum deposit of $2,500.
• Colorado Federal Savings Bank at 1.60% APY with a minimum deposit of $5,000.
• Aurora Bank at 1.58% APY with a minimum deposit of $1,000.
• Ally Bank at 1.57% APY with no minimum deposit.

These banks offer no restrictions on who can open an account and invest into their certificate of deposits. Melrose Credit Union has no restrictions on who can apply for their credit union and only charges a $1 fee.

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

Bank of Internet is based out of San Diego, CA and is paying 1.72% APY on deposits over $1,000. This is a rate they have offered since the beginning of November.

To put things into perspective, this rate is three-quarters of a point less than what was offered for the 2 year certificate of deposit last December 2009.

Here is a list of the best available 2 Year CD rates:

• Melrose Credit Union from Queens, New York at 1.66% APY with a minimum deposit of $5,000.
• Stonebridge Bank out of Philadelphia at a rate of 1.65% APY with a minimum deposit of $500.
• Discover Bank, owned by the major credit card company at a rate of 1.60% APY with a minimum deposit of $2,500.
• Colorado Federal Savings Bank from Colorado at a rate of 1.60% APY with a minimum deposit of $5,000.

We have posted these banks and credit unions because they allow anyone nationwide to open and invest in their CDs, either online, at the local branch or through the mail.

There are no requirements that would keep the average person from opening an account with these financial institutions. Unlike other credit unions, Melrose has no restrictions on who can open an account with the union. There is a $1 fee and the requirement of having a savings account funded with $25.

Be sure to compare these rates with the most up to date CD rates from our database of banks.

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.

It is still a great CD rate but now it’s nearing the highest 12 month CDs, making its 24 month CD not as attractive as before the decrease. Since Hudson City Savings Bank cuts its 2 Year CD rate down to 1.76% APY, its no longer high enough to classify it as one of the best 2 Year CD rates.

Here is a good list of the better 2 year CDs available nationally:

• Melrose Credit Union holds the top spot for the 2 year CD at a rate of 2.02% APY. They have one location in Queens, NY and is open to all US residents. Their 2 Year CD requires a minimum deposit of $5,000.
• New Dominion Bank holds second place for the 2 Year CD at a rate of 2.00% APY. They have locations in Charlotte and Mooresville, NC and require a minimum deposit of $3,000.
• Stonebridge Bank carries the third place spot with a rate of 1.90% APY. They have four branches in SE Pennsylvania and require a minimum deposit of $500.
• Bank of Internet comes next with a rate of 1.89% APY and is an online bank, but based in San Diego. Their minimum required deposit is only $1,000.
• Colorado Federal Savings Bank comes in 5^th with a 2 Year CD rate of 1.85% APY. This is also an online based bank, located out of Greenwood Village, CO. Their minimum required deposit is $5,000.

You can find more information on the top 2 Year CD rates from our extensive CD database.

A 6 month CD at 1.15% is a great deal with little risk. If rates increase in the next 6 months you will be out of this CD and ready for the next best CD. Interest rates are expected to increase later this year and into early next year so if you plan on investing long term into a CD, it would be best to wait until rates increase. Another option is to get into an Ally CD with the option of a one time rate increase. We are seeing more and more banks give this option, which allows you to lock in a higher rate while being locked into a long term CD. Without a one time option to increase your rate, you would have to get out of the CD (certificate of deposit), pay an early termination penalty and then lock into the higher rate.

Colorado Federal Savings Bank is also offering a 12 month CD at 1.45% APY and a 24 month CD at 1.95% APY, which are both higher than the national averages of 0.83% and 1.30% respectively.

They are also offering 36 month CD rates at 2.30% APY and 60 month CD rates at 2.80% APY.

For the most current rates from Colorado Federal Savings Bank, visit their CD Rates page here.