Two Online Banks Now Have 3-yr 5% CDs
Nov 11, 2005 - 1:23 PM by Ken Tumin
The 5% CDs are popping up at more and more banks. You no longer have to settle for a 5-year term. Two online banks now have 5% APY CDs in a 3-year term. The first is Countrywide Bank which has a $10K minimum deposit. The other one is Netbank which only has a $1K minimum deposit.
You can also get a $25 Visa Gift Card by opening a Netbank CD with a term of 1-year or longer. There are also other signup bonuses at Netbank that I had mentioned in this post. Looks like Netbank has made it easier to get this CD bonus. It previously required a $10K deposit, but now it's only $1K.
Even though you can get 5%, a 36-month CD may be a bit long in this rising interest-rate environment. Netbank's 1-year CD rate has also just recently been increased and is now at 4.65% APY.
You can also get a $25 Visa Gift Card by opening a Netbank CD with a term of 1-year or longer. There are also other signup bonuses at Netbank that I had mentioned in this post. Looks like Netbank has made it easier to get this CD bonus. It previously required a $10K deposit, but now it's only $1K.
Even though you can get 5%, a 36-month CD may be a bit long in this rising interest-rate environment. Netbank's 1-year CD rate has also just recently been increased and is now at 4.65% APY.
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Empty Spaces Inc. (anonymous) - #1, Friday, November 11, 2005 - 7:32 PM
i wouldn't be in a hurry to open another more than a 12 month CD at this point.rates are going up and you'll regret tying up your money in 12 months.
infact i have half my money in ING paying 3.5%
the other half is lent out as 2nd trust deeds on property paying 18-24% monthly!
Anonymous - #2, Saturday, November 12, 2005 - 8:46 AM
I noticed a deal where you can get $175 from Netbank when you sign up through drugstore.com. Apparently one of the top executives at drugstore (his name is Mont or Mott) worked on some kind of partnership deal. Seems like a good offer. You can check it out at: www.netbank.com/drugstore
Banking Guy (anonymous) - #3, Saturday, November 12, 2005 - 4:48 PM
About the 12-month CD, you may be right although it's hard to say how fast rates will move up over the next year.
About the Netbank $175 offer, that is a good deal. In the post, I give a link to a previous post that discusses this deal. Thanks for the info.
Banking Guy (anonymous) - #4, Friday, May 19, 2006 - 9:32 AM
Countrywide's 1-year CD as of May 19, 2006 is paying 5.41% APY. Also, they have a new online savings account with ACH transfer capability. Refer to this May 2006 post for more info.
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