Couple of 4-Month 4 Percent CDs

With interest rates expected to rise, it may be a good idea to stick with savings accounts or short term CDs. If a CD rate isn't over 3.75%, you would be better off with a high rate savings account like HSBC's OnlineSavings Account. You won't find many CDs with terms of under 6 months with rates over 3.75%. I did find a couple of 4-month CDs with rates of 4.00% APY.

4.00% APY, 4-month CD, $2.5K minimum deposit

This CD special is offered by The NYCB Family of Community Banks which has branches in New York and and northern New Jersey. According to the FAQs, you can open a CD account over the internet. However, the bank doesn't have the rates of its savings accounts or its standard CDs online. It says to contact your local branch or call their customer service center. So I'm not sure if this would be a good choice for an online bank.

This bank has some additional featured products that are interesting, one of which is a Gift CD. If you open a specific term CD with a required deposit you can choose from a variety of gifts. There are three levels of gifts that seem to range from about $50 value on the low-end, $100 value on the mid-range, and $200 value on the high-end. The problem, however, is that the rates are low and the required deposits are high. For example, to get the high-end digital camera gift requires a $20K deposit for a 4.25% APY, 5 year CD. A 5 year CD with a 4.75% APY would give over $500 more interest over the 5 years. That would pay for at least two of those gifts. In addition to its Gift CDs, it also has All-In-One Banking which requires opening the All-In-One checking combined with savings, money market, or a CD. You then can get a few bonuses such as $50 for starting direct deposit and $25 for online banking with bill payment. A combined minimum balance of $5K is required.

4.01% APY, 4-month CD, $10K minimum deposit

This special CD is offered by World Savings Bank. You can complete and submit an account application form online. For the initial deposit, you'll have to mail in a check. If you have a checking or money market account with them, you can transfer funds from other banks using ACH. They also have branches in several states including California, Florida, Arizona, Colorado, and Texas.

According to this Fatwallet thread, World Savings Bank is also offering a 7-month 4.36% APY CD which is not being advertised on their website. You can apply and set up the account over the phone. Like the 4-month CD, it requires a minimum $10K deposit. Another perk regarding Worlds Savings was mentioned on this thread. If you have over $25K in accounts, you can get a free safe deposit box.