In this time of low rates, I thought it would be helpful to provide a Bank CD Rate Comparison. There are numerous Bank rates out there, but here are some of the best. I didn’t limit this to just banks, because there are some credit unions that are Federally insured by the NCUA and have better rates than many banks. Your deposits are just as safe and just as insured as if they were in an FDIC insured bank.
Alliant Credit Union, IL — 3.40% APY, 1-year CD — $25 membership fees — $25,000 minimum
4.00% APY, 3-year CD — Click here
Capital One Bank, VA — 4.00% APY, 7-year CD — $5,000 minimum
Note: Capital One has two banks so you can get double the insurance. — Click here
GMAC Bank, PA — 3.00% APY, 1-year and 18-month CD — $500 minimum — Click here
So there are a few rates to help you with your Bank CD Rate comparison. Remember don’t be afraid of credit unions.
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Heritage Bank, NA has some sweet CD rates. There is more than one Heritage Bank in the USA. This one is based in Phoeniz, AZ (Arizona) and their FDIC# is 58416. The bank was established in September of 2006. The bank has almost $163MM in assets. They do have a 250K operating loss, but new banks usually do for about three years. The core ratios look pretty good.
Their Certificate of Deposit Rates are as follows:
| 1-Year CD
| 4.30% |
| 2-Year CD
| 4.50% |
| 3-Year CD
| 4.70% |
| 4-Year CD
| 4.80% |
| 5-Year CD
| 5.00% |
Here is a link to their site. I believe you can apply and fund on-line.
Alliant Credit Union has decent CD Rates. As rates were coming down they continued to have rates above market. However, as rates have begun to come back up they have been slow to respond and are being left behind.
Their Certificate of Deposit Rates are as follows:
| 1-Year CD
| 3.90% |
| 2-Year CD
| 4.05% |
Like some credit unions out there they do allow for nationwide membership by joining an association. In Alliant’s case it is the National PTA. Another thing to note is that the interest is only paid out at maturity. You can not receive the interest on a monthly basis, so this CD is not good for those seeking monthly income.
Alliant’s NCUA# is 67955. They are federally insured just like an FDIC insured bank. They currently have about $5.3BB in assets and are fairly large as far as credit unions go. Unlike many banks, they do currently have a healthy profit and have a nice Equity/Asset ratio of 11.79%.
The website address for their rates is www.alliantcreditunion.org/services/rates/.
The main site is www.alliantcreditunion.org
They also currently have a nice savings rate of 3.75% APY.
Bank of America has very low CD rates. They also are dependent on what area of the country you live in. Bank of America also just completed the acquisition of Countrywide Bank. It will be interesting to see how that plays out. However, at the moment the banks will be operating separately.
The current CD rates for BofA are a 7-month CD at 3.10% APY.
Bank of America is $1.35 Trillion dollars in size. That is ginormous. They made more money, about $1.2 Billion, than most banks have in assets. That is just scary.
The FDIC# is 3510.
Please visit our Best Certificate Deposit Rates
CNB Bank, Inc. is located in Berkeley Springs, WV. They currently have 6 branches, 95 employees, and are have about $275MM in assets. A nice size community bank.
For more information visit, CD Rates Berkeley Springs