5.20% 7-Month CD at IndyMac Bank

IndyMac Bank has several very competitive CD rates. The best is a 5.20% APY 7-month CD. All have a minimum deposit requirement of $5K. Accounts can be opened online or my mail. Below is the full list of terms and rates:

 Term         Rate        APY
 3 Month      4.74%       4.85%
 6 Month      4.97%       5.10%
 7 Month      5.07%       5.20%
 9 Month      5.02%       5.15%
 1 Year       5.12%       5.25%
 18 Month     5.12%       5.25%
 2 Year       5.12%       5.25%
 3 Year       5.12%       5.25%
 4 Year       5.12%       5.25%
 5 Year       5.12%       5.25%

The early withdrawal penalties for these certificates of deposit for terms under one year is 1 month of interest. For terms of one and less than two years, the penalty is 3 months of interest. For terms of two years and over, the penalty is 6 months of interest.

4.80% Money Market Account for $75K+

IndyMac Bank also has some competitive money market rates for large balances. Their Internet Top Tier Money Market currently pays 4.80% APY for balances over $75K. Balances under $75K earn 3.35% APY. Their Internet Money Market Savings earns 4.20% APY for balances over $1K and up to 4.50% APY for balances over $25K..

Thanks to the commenter who left the note about the 5.20% 7-month CD. If you find a similar good deal, please leave a comment in my finding deals post.