Dedicated to Deposits: Deals, Data, and Discussion

GMAC's Long Term CD Rates Move Up Slightly

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Friday seems to be the usual day in which GMAC Bank introduces new rates. It has been two weeks since GMAC Bank last did a rate bump on their money market account. I was hoping for another one today, but no luck. Their money market APY remains at 4.75%. And unlike last week, there were no changes on the short term CD rates. However, long term CD rates were increased by 0.05%. GMAC Bank's 2-year and longer term CDs are now at 5.35% APY. Below are the full list of old and new rates:

GMAC Bank Certificate of Deposit Rates:
Term Old APY New APY Change
3 months 4.85% 4.85%
6 months 5.10% 5.10%
9 months 5.15% 5.15%
12 months 5.30% 5.30%
18 months 5.30% 5.30%
2 years 5.30% 5.35% +0.05%
3 years 5.30% 5.35% +0.05%
4 years 5.30% 5.35% +0.05%
5 years 5.30% 5.35% +0.05%


Comments
Comment #1 by Steve Holt (anonymous) posted on
Steve Holt
Ken - I was told by a GMAC CSR that Friday will always be the day the new rates are announced by GMAC for the week. I also believe that Corus always gives their new rates on Tuesdays. Keep up the great work...awesome website!!!

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