CD 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:
- 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 – 1.76% APY at Melrose Credit Union with a minimum deposit of $5,000.
- 24 Month CD – 2.02% APY at Melrose Credit Union with a minimum deposit of $5,000.
- 36 Month CD – 2.52% APY at Melrose Credit Union with a minimum deposit of $5,000.
- 60 Month CD – 3.29% APY at Melrose Credit Union with a minimum deposit of $5,000.
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.