Bank Deals Weekly Summary for December 30, 2006
Dec 30, 2006 - 2:49 PM by Ken Tumin
This year ended with a bang for those looking for long-term CDs thanks to Pentagon Federal Credit Union (Penfed). Last Thursday, Penfed released its new rate of 6.25% APY for its CDs with terms of 3 to 7 years. This is about one percent higher than the best long term rates offered by most major banks (both online and brick-and-mortar). Long-term CD rates have slowly dropped for most of the second half of this year after the Fed stopped its rate hikes. No one can predict future rates, but many think we may see the Fed cut rates sometime next year. So this may be your last chance to lock in a six-percent-plus CD for several years. Please refer to my post for more info on Penfed and how to join.
Other than Penfed, this holiday season has been quiet for bank rate changes. The trend of falling long-term CD rates continues. In the last two weeks, CD rates have been cut at AmtrustDirect, ETrade, Corus Bank, VirtualBank, Ebank, La Jolla Bank and Transportation Alliance Bank. Most of the cuts have been in the long-term rates. There were a few exceptions. Countrywide Bank increased its 12 month CD rate from 5.10% to 5.20% APY. Also, Netbank increased its 6-month CD rate from 5.19% to 5.40% APY and its 12-month CD from 5.20% to 5.30% APY. Longer terms also had rate increases. If you're not already a Netbank customer, you can obtain an effective rate close to 6% on a 12-month term with a $15K deposit through Netbank's $100 bonus promotion which is still available (see post).
For savings accounts and money market accounts, rates are generally holding steady. OneUnited Bank increased the rate on its internet savings account from 5.25% to 5.30% APY. Unfortunately, it also raised its minimum deposit requirement from $10 to $1,000 (see post).
There remains some good deals at small local banks. Sometimes you'll find a small bank willing to open a CD by mail even if you live outside the state. Their policies on this often changes with time if they find they're unable to handle the demand. One of these small banks that is still accepting deposits by mail is Alpha Bank and Trust which is located near Atlanta, Georiga. Its current CD rates include a 6.00% APY 6-month CD, a 5.85% APY 12-month CD and 5.65% APY on all longer term CDs. (see post). Another small bank that seems to be still accepting deposits by mail is Garden City Bank located in Missouri. Its current CD rates include a 5.60% APY 13-month CD, a 5.64% APY 60-month CD and a 5.90% APY 72-month CD (see post). Thanks to the readers who have provided updates on the policies of these banks.
There remains many 6-percent-plus local CD deals. However, many are set to expire this month. I've tried to update my local CD list, but I likely have missed a few. If you see any that are out-of-date, your comments are appreciated.
Thanks to all who have helped by leaving comments or sending emails on rate updates. Sorry I can't post on all of your suggestions.
The rates listed below are based on Annual Percentage Yield (APY). No minimum balances are required unless noted. MMA next to the rates indicate a money market account. Most MMAs have check writing and ATM cards. Online savings accounts usually lack both of these. The top lists include banks and credit unions with broad availability and with minimums around $10K or less. Previous weekly summaries are available for Dec 23rd (short version), Dec 16th, Dec 9th, Dec 2nd, Nov 25th, Nov 18th, Nov 11th and Nov 4th.
As of December 30, 2006
Savings Accounts/Money Market Accounts:
3-Month Certificates of Deposit:
6-Month Certificates of Deposit:
9-Month Certificates of Deposit:
12-Month Certificates of Deposit:
18-Month Certificates of Deposit:
36-Month Certificate of Deposit:
48-Month Certificate of Deposit:
60-Month Certificate of Deposit:
84-Month Certificate of Deposit:
High Rates with Conditions - Open to All
Checking and Saving Accounts at Local Banks/Credit Unions
CD Specials at Local Credit Unions/Banks Over the Last Two Months
Terms of 60 Months and Over
Terms of 24 Months to Under 60 Months
Terms of 12 Months to Under 24 Months
Terms of Under 12 Months
Savings Account/CD Alternatives
Other than Penfed, this holiday season has been quiet for bank rate changes. The trend of falling long-term CD rates continues. In the last two weeks, CD rates have been cut at AmtrustDirect, ETrade, Corus Bank, VirtualBank, Ebank, La Jolla Bank and Transportation Alliance Bank. Most of the cuts have been in the long-term rates. There were a few exceptions. Countrywide Bank increased its 12 month CD rate from 5.10% to 5.20% APY. Also, Netbank increased its 6-month CD rate from 5.19% to 5.40% APY and its 12-month CD from 5.20% to 5.30% APY. Longer terms also had rate increases. If you're not already a Netbank customer, you can obtain an effective rate close to 6% on a 12-month term with a $15K deposit through Netbank's $100 bonus promotion which is still available (see post).
For savings accounts and money market accounts, rates are generally holding steady. OneUnited Bank increased the rate on its internet savings account from 5.25% to 5.30% APY. Unfortunately, it also raised its minimum deposit requirement from $10 to $1,000 (see post).
There remains some good deals at small local banks. Sometimes you'll find a small bank willing to open a CD by mail even if you live outside the state. Their policies on this often changes with time if they find they're unable to handle the demand. One of these small banks that is still accepting deposits by mail is Alpha Bank and Trust which is located near Atlanta, Georiga. Its current CD rates include a 6.00% APY 6-month CD, a 5.85% APY 12-month CD and 5.65% APY on all longer term CDs. (see post). Another small bank that seems to be still accepting deposits by mail is Garden City Bank located in Missouri. Its current CD rates include a 5.60% APY 13-month CD, a 5.64% APY 60-month CD and a 5.90% APY 72-month CD (see post). Thanks to the readers who have provided updates on the policies of these banks.
There remains many 6-percent-plus local CD deals. However, many are set to expire this month. I've tried to update my local CD list, but I likely have missed a few. If you see any that are out-of-date, your comments are appreciated.
Thanks to all who have helped by leaving comments or sending emails on rate updates. Sorry I can't post on all of your suggestions.
The rates listed below are based on Annual Percentage Yield (APY). No minimum balances are required unless noted. MMA next to the rates indicate a money market account. Most MMAs have check writing and ATM cards. Online savings accounts usually lack both of these. The top lists include banks and credit unions with broad availability and with minimums around $10K or less. Previous weekly summaries are available for Dec 23rd (short version), Dec 16th, Dec 9th, Dec 2nd, Nov 25th, Nov 18th, Nov 11th and Nov 4th.
As of December 30, 2006
Savings Accounts/Money Market Accounts:
- Superior Savings - 5.50% MMA ($10K min), my post
- E-LOAN - 5.38% ($5K min), my post
- BankUnited - 5.35% (min $5K), my post
- UFB Direct - 5.32%, my post
- iGobanking - 5.30%, my post
- Zions Bank - 5.30% MMA (min $1K) (5.34% $50K+), my post
- AmTrustDirect - 5.30% ($1K min), my post
- OneUnited - 5.30% (min $1K), my post
- Apple Bank - 5.27%, my post ($25 bonus)
- WTDirect - 5.26% ($10K min), my post
- AmboyDirect - 5.25% (5.35% for $20K+), my post ($25 bonus)
- Presidential Bank - 5.25% (min $5K, only first $35K receives this rate), offers 4.50% checking, my post
- Countrywide - 5.25% (min $10K), (5.40% $50K+) my post
- GMAC Bank - 5.20% MMA (min $500), my post
- FirstFedDirect - 5.16% (min $1K) (closed to CA residents), my post
- UmbrellaBank.com - 5.10% MMA (min $1K) (5.15% $5K+), offers checking, my post
- MyBankingDirect - 5.10% MMA (min $5K), my post
- Mutual Bank - 5.10% MMA (min $5K), my post
- EmigrantDirect - 5.05%, my post, (rate history)
- HSBC Direct - 5.05%, offers checking (see $25 bonus post), my post
- ETrade Bank - 5.05%, my post ($50 bonus)
- Discover Bank - 5.05% MMA (min $10K)
- CapitalOne/Costco - 5.01% MMA (min $5K, Costco members only, $25 deal for exec. members)
- Citibank - 5.00%, requires checking account, my post
- Washington Mutual - 5.00% (requires checking), my post
- Corus Bank - 4.99% MMA (min $10K to open)
- Tennessee Commerce Bank - 4.99% (min $10K), my post
- CapitalOne - 4.80% (MMA has same rate, but with checks and ATM. $100 min.), my post
- Self-Help Credit Union - 4.71% MMA (min $500), my post
- VirtualBank - 4.60% (min $100), (4.86% $50K+/ 5.13% $100K+) offers checking, my post ($20 bonus)
- ING Direct - 4.50%, my post ($25 bonus), (rate history)
- GE Money - 4.50% (min $4K), (5.05% for $15K+), my post ($25 bonus)
- EverBank - 4.41% ($1.5K min), 6.01% 3-mo promo, my post
- MetLife Bank - 4.40% MMA (min $5K), my post ($50 bonus)
- Imperial Capital - 4.20% MMA ($2.5K min), offers free checking, my post
- ebank - 4.00% MMA ($1K min, rate for $10K-25K balance), offers checking
- NetBank - 3.66% MMA ($500 min), requires checking, my post ($250 deal)
3-Month Certificates of Deposit:
- EverBank - 6.01% ($1.5K min), checking account promo, see post
- IndyMac Bank - 5.45% (min $5K), my post
- World Savings - 5.45% (4 months) (min $10K), my post
- Countrywide - 5.40% (min $10K), my post
- Imperial Capital - 5.35%, ($2K min), my post
- VirtualBank - 5.34% (min $10K), my post
- UFB Direct - 5.30% (min $8K)
- FirstFedDirect - 5.26% (min $10K), my post
- GMAC Bank - 5.15% (min $500), my post
- UmbrellaBank.com - 5.10% (min $1K)
- ebank - 5.00% (min $1K), 5.25% for ePremium checking customers
- ETrade Bank - 5.00% (min $1K), my post
- Charles Schwab - 4.99% (min $1K), my post
- Corus Bank - 4.99% (min $10K)
- Self-Help Credit Union - 4.98% (min $500), my post
6-Month Certificates of Deposit:
- NASA FCU - 5.80% (7 months) (min $15K), my post
- Superior Savings - 5.60% (min $500)
- AmTrustDirect - 5.46% (min $1K) my post
- FirstFedDirect - 5.46% (min $10K), my post
- BankUnited - 5.45% ($1K min)
- IndyMac Bank - 5.45% (min $5K), my post
- NetBank - 5.40% (min $1K)
- Tennessee Commerce Bank - 5.35% (min $5K)
- Corus Bank - 5.35% (min $10K)
- Imperial Capital - 5.35%, ($2K min), my post
- ETrade Bank - 5.35% (min $1K), my post
- World Savings - 5.35% (7 months) (min $10K), branch-only, my post
- VirtualBank - 5.31% (min $10K), my post
- iGobanking - 5.30% (min $500), my post
- Countrywide - 5.30% (min $10K), my post
- UFB Direct - 5.30% (min $8K)
- Self-Help Credit Union - 5.25% (min $500), my post
- EmigrantDirect - 5.20% (min $1K)
- UmbrellaBank.com - 5.20% (min $1K)
- GMAC Bank - 5.15% (min $500), my post
- EverBank - 5.15% ($1.5K min)
- E-LOAN - 5.15% ($10K min), my post
- ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
- ING Direct - 5.00%, my post
- Wells Fargo - 4.90% (5 months) (min $5K), rate and min vary by state, my post
9-Month Certificates of Deposit:
- Patelco Credit Union - 5.75% ($1K min) (8 months), not NCUA insured, my post
- AmTrustDirect - 5.41% (min $1K) my post
- FirstFedDirect - 5.41% (min $10K), my post
- UmbrellaBank.com - 5.35% (min $1K)
- Imperial Capital - 5.32% ($2K min), my post
- IndyMac Bank - 5.20% (min $5K), my post
- EmigrantDirect - 5.20% (min $1K)
- Countrywide - 5.20% (min $10K), my post
- VirtualBank - 5.18% (min $10K), my post
- GMAC Bank - 5.15% (min $500), my post
- EverBank - 5.15% ($1.5K min)
- ING Direct - 5.05%, my post
- Washington Mutual - 5.00% (min $1K)
12-Month Certificates of Deposit:
- AmboyDirect - 5.50% (min $10K), my post
- Digital CU - 5.50% (13 month) (min $500), my post
- AmTrustDirect - 5.41% (min $1K) my post
- UmbrellaBank.com - 5.40% (min $1K)
- Tennessee Commerce Bank - 5.40% (min $5K)
- Corus Bank - 5.35% (min $10K)
- FirstFedDirect - 5.35%, (min $10K) my post
- iGobanking - 5.30% (min $500), my post
- NetBank - 5.30% (min $1K), my post ($100 bonus)
- Imperial Capital - 5.30% ($2K min), my post
- La Jolla Bank - 5.30% (min $10K), my post
- Transportation Alliance Bank - 5.27% ($1K min)
- IndyMac Bank - 5.25% (min $5K), my post
- ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
- GMAC Bank - 5.20% (min $500), my post
- EmigrantDirect - 5.20% (min $1K)
- Countrywide - 5.20% (min $10K)
- Self-Help Credit Union - 5.19% (min $500), my post
- EverBank - 5.15% ($1.5K min)
- UFB Direct - 5.15% (min $8K)
- VirtualBank - 5.15% (min $10K), my post
- E-LOAN - 5.15% ($10K min), my post
- ING Direct - 5.10%, my post
- Washington Mutual - 5.10% (min $1K), rates vary by state
- Melrose CU - 5.09% (min $5K) my post
- ETrade Bank - 5.05% (min $1K), my post
- GTE FCU - 4.96% (min $500) (add-on feature) my post
- Mutual Bank - 4.80% (min $2.5K) my post
18-Month Certificates of Deposit:
- iGobanking - 5.30% (min $500), my post
- NetBank - 5.30% (min $1K), my post ($100 bonus)
- UmbrellaBank.com - 5.25% (min $1K)
- EmigrantDirect - 5.20% (min $1K)
- ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
- AmTrustDirect - 5.15% (min $1K) my post
- Imperial Capital - 5.15% ($2K min), my post
- CapitalOne/Costco - 5.14% (min $5K, Costco members only)
- GMAC Bank - 5.10% (min $500)
- E-LOAN - 5.05% ($10K min), my post
- ETrade Bank - 5.00% (min $1K), my post
- Countrywide - 5.00% (min $10K)
- Mutual Bank - 4.85% (min $5K) my post
36-Month Certificate of Deposit:
- Pentagon Federal CU - 6.25% (min $1K), my post
- First State Bank - 5.50% ($1K min), my post
- Agriculture FCU - 5.25% (min $1K), my post
- NetBank - 5.20% (min $1K), my post ($100 bonus)
- EmigrantDirect - 5.20% (min $1K)
- Melrose CU - 5.20% (min $5K) my post
- Fort Belvoir FCU - 5.18% (min $1K), my post
- UmbrellaBank.com - 5.15% (min $1K)
- Transportation Alliance Bank - 5.15% ($1K min)
- ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
- Mutual Bank - 5.10% (min $5K) my post
- AmTrustDirect - 5.00% (min $1K) my post
- GMAC Bank - 5.00% (min $500)
- Imperial Capital - 5.00% ($2K min), my post
- E-LOAN - 5.00% ($10K min), my post
- Self-Help Credit Union - 4.95% (min $500), my post
- Washington Mutual - 4.95% (min $1K), rates vary by state
- ETrade Bank - 4.80% (min $1K), my post
- Countrywide - 4.80% (min $10K)
48-Month Certificate of Deposit:
- Pentagon Federal CU - 6.25% (min $1K), my post
- First State Bank - 5.50% ($1K min), my post
- USA FCU - 5.33% (min $1K) my post
- Fort Belvoir FCU - 5.29% (min $1K), my post
- Agriculture FCU - 5.25% (min $1K), my post
- Melrose CU - 5.25% (min $5K) my post
- NetBank - 5.20% (min $1K), my post ($100 bonus)
- EmigrantDirect - 5.20% (min $1K)
- UmbrellaBank.com - 5.15% (min $1K)
- Transportation Alliance Bank - 5.15% ($1K min)
- ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
- GMAC Bank - 5.00% (min $500)
- E-LOAN - 5.00% ($10K min), my post
- Self-Help Credit Union - 4.95% (min $500), my post
- Countrywide - 4.80% (min $10K)
60-Month Certificate of Deposit:
- Pentagon Federal CU - 6.25% (min $1K), my post
- Navy FCU - 5.70% ($20K min) restrictions to membership, my post
- Agriculture FCU - 5.50% (min $1K), my post
- First State Bank - 5.50% ($1K min), my post
- Fort Belvoir FCU - 5.44% (min $1K), my post
- USA FCU - 5.38% (min $1K) my post
- Presidential Bank - 5.35% (min $1K)
- Members Credit Union - 5.34% (min $2K), my post
- Melrose CU - 5.30% (min $5K) my post
- NetBank - 5.20% (min $1K), my post ($100 bonus)
- EmigrantDirect - 5.20% (min $1K)
- Transportation Alliance Bank - 5.15% ($1K min)
- UmbrellaBank.com - 5.15% (min $1K)
- VirtualBank - 5.15% (min $10K), my post
- ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
- AmTrustDirect - 5.10% (min $1K) my post
- Washington Mutual - 5.10% (min $1K), rates vary by state
- GMAC Bank - 5.00% (min $500)
- E-LOAN - 5.00% ($10K min), my post
- Imperial Capital - 4.95% ($2K min), my post
- Self-Help Credit Union - 4.95% (min $500), my post
- ETrade Bank - 4.80% (min $1K), my post
- Countrywide - 4.80% (min $10K)
84-Month Certificate of Deposit:
- Pentagon Federal CU - 6.25% (min $1K), my post
- Navy FCU - 6.00% ($20K min) restrictions to membership, my post
- EmigrantDirect - 5.20% (min $1K)
- CapitalOne/Costco - 5.14% (min $5K, Costco members only)
- Countrywide - 4.80% (min $10K)
High Rates with Conditions - Open to All
- 10% Savings Account for kids ($500 max)
- 6.01% 3-month intro rate on checking account
- 6.00% 3-month intro rate on Money Market account
- 5.61% Savings Account with $25K+ balance
- 5.52% Money Market Account with $250K initial deposit
- 5.55% Money Market Account with $100K balance / 5.25% Business MMA
- 5.40% Money Market Account with $25K min
- 5.36% Money Market Account at Bank of America with $50K+
- 5.25% Money Market Account with $25K min
Checking and Saving Accounts at Local Banks/Credit Unions
- $250 Checking Account Bonus at South Carolina Federal
- 6.00% Checking Account up to $25k (Arkansas)
- 6.00% Money Market Account Intro Rate in New Jersey
- 5.61% Checking Account up to $25K (AL/TN/MS)
- 5.50% Money Market Account for 3 months (New York)
- 5.25% Checking Account (Florida)
- 5.25% Money Market Account (Utah)
- 5.25% no-min online savings account and $50 Bonus (New York)
- 5.25% low-minimum online savings account (California)
- 5.01% Checking Account (Wisconsin/Illinois)
- 5.00% Checking Account at an Oklahoma Bank (Legacy)
- 4.75% Checking Account (Texas)
CD Specials at Local Credit Unions/Banks Over the Last Two Months
Terms of 60 Months and Over
- 6.37% 60-Month CD at a Maryland CU (MCT)
- 6.33% 60-Month CD at a North Carolina CU (Team and Wheel)
- 6.25% 60-Month CD at a New Jersey CU (Paragon)
- 6.22% 60-Month CD at a California CU (TFCU)
- 6.18% 60-Month CD at a DC Credit Union (GSA)
- 6.17% 60-Month CD at a Washington State CU (Spokane City)
- 6.05% 60-Month CD at a Ohio CU (TopMark)
- 6.00% 60-Month CD at a Ohio/Kentucky CU (Cinfed)
- 6.00% 60-Month CD at a Texas CU - IRA (Texas FCU)
- 6.00% 72-Month CD at a Ohio CU (ProMedica)
- 6.00% 60-Month CD at a Utah CU (Family First)
- 5.98% 60-Month CD at a Texas CU (Coastal Community and Teachers)
- 5.92% 60-Month CD at a South Carolina CU - $50K+ (SAFE FCU)
- 5.91% 60-Month CD at a Texas CU - $50K (Star of Texas)
- 5.90% 60-Month CD at a Michigan CU (Schools and Government)
- 5.90% 72-Month CD at a Missouri Bank (Garden City)
- 5.90% 60-Month CD at a Nevada CU - $75K (Clark County)
- 5.88% 60-Month CD at a Wyoming CU (First Education)
- 5.88% 60-Month CD at a Virginia Bank (Farmers)
- 5.86% 60-Month CD at a Virginia CU (Richmod Postal)
- 5.83% 60-Month CD at a Arizona CU (Honeywell Aerospace)
- 5.82% 60-Month CD at a Texas CU (Austin Telco)
- 5.80% 60-Month CD at a MI/AL/MO CU (Service 1)
- 5.80% 60-Month CD at a Arizona CU - IRA (Credit Union West)
- 5.75% 60-Month CD at a Wisconsin Bank (Cashton)
- 5.75% 60-Month CD at a Florida CU (Bay Gulf)
- 5.75% 120-Month CD at a Pennsylvania CU (Diamond)
- 5.75% 60-Month CD at a Pennsylvania CU (Diamond)
- 5.75% 60-Month CD at a Georgia Bank (Piedmont)
- 5.75% 60-Month CD at a California Bank (Spectrum)
- 5.65% 60-Month CD at a Georgia Bank (Alpha)
- 5.65% 60-Month CD at a Colorado CU (Gateway)
- 5.60% 60-Month CD at a Florida CU (Suncoast Schools)
- 5.57% 60-Month CD at a California CU (Open to All)
Terms of 24 Months to Under 60 Months
- 6.98% 36-Month CD at a California Bank - Variable IRA (Alliance Bank)
- 6.43% 36-Month CD at a Alabama CU (Energon)
- 6.25% 36-Month CD at a Illinois CU - Coverdell (First Northern)
- 6.18% 36-Month CD at a Arizona CU - $50K (Arizona Holsum)
- 6.17% 48-Month CD at a Maryland CU (MCT)
- 6.17% 36-Month CD at a Maryland Bank - $100K Min (CommerceFirst)
- 6.17% 48-Month CD at a DC Credit Union (GSA)
- 6.11% 30-Month CD at a California CU (TFCU)
- 6.00% 50-Month CD at a Nevada CU (Greater Nevada)
- 6.00% 24-Month CD at a North Dakota CU (Burlington Northern)
- 6.00% 24-Month CD at a New York CU - $50K Min (Palisades)
- 6.00% 30-Month CD at a Florida CU - $100K (Tropical Financial)
- 5.88% 48-Month CD at a California CU (Butte)
- 5.87% 36-Month CD at a Virginia CU (Loudoun)
- 5.85% 40-Month CD at a Michigan CU (Schools and Government)
- 5.80% 35-Month CD at a Nevada CU (Greater Nevada)
- 5.80% 24-Month CD at a New York CU (Countryside Community)
- 5.75% 24-Month CD at a Texas CU (Texas Champions)
- 5.75% 36-Month CD at a North Dakota CU (Dakota Plains)
- 5.75% 48-Month CD at a New York CU (Countryside Community)
- 5.75% 36-Month CD at a Oregon CU (NW Preferred)
- 5.75% 50-Month CD at a Ohio CU (AP FCU)
- 5.75% 30-Month CD at a Ohio CU (CINCO)
- 5.72% 24-Month CD at a Virginia CU - $50K (DuPont Fibers)
- 5.70% 30-Month CD at a Maryland Bank (Howard)
- 5.63% 36-Month CD at a California CU (Open to All)
Terms of 12 Months to Under 24 Months
- 10.00% 12-Month CD at a New York CU - $2K Max (Palisades)
- 6.35% 15-Month CD at a California CU (Alisos)
- 6.07% 13-Month CD at a LA Credit Union (Financial Partners)
- 6.00% 12-Month CD at a Montana CU (Lincoln County)
- 6.00% 12-Month CD at a Dallas Bank - $125k min (ViewPoint)
- 6.00% 15-Month CD at a TX/CO Credit Union (Security Service)
- 6.00% 12-Month CD at a California CU (Ventura County)
- 6.00% 13-Month CD at a Texas CU (Air Force)
- 6.00% 12-Month CD at a New Jersey CU (Rutgers)
- 6.00% 12-Month CD at a Colorado Bank - IRA (Eastern Colorado)
- 6.00% 17-Month CD at a Massachusetts CU - IRA (M/A-Com)
- 5.95% 12-Month CD at a Georgia Bank (Patriot Bank)
- 5.90% 23-Month CD at a Minnesota CU (Honeywell)
- 5.88% 18-Month CD at a Multi-State CU (Chartway FCU)
- 5.80% 12-Month CD at a Florida Bank (Freedom Bank)
- 5.77% 19-Month CD at a Virginai CU (Newport)
- 5.75% 18-Month CD at a Miami CU (MPS)
- 5.75% 18-Month CD at a New York Bank (Park Avenue)
- 5.75% 12-Month CD at a California Credit Union (LA Times FCU)
- 5.75% 21-Month CD at a Indiana CU (Afena)
- 5.75% 12-Month CD at a Houston CU (Right Choice)
- 5.75% 12-Month CD at a North Dakota CU (Northern Tier)
- 5.75% 12-Month CD at a Georgia Bank (Piedmont)
- 5.75% 12-Month CD at a California Bank (Temecula Valley)
- 5.75% 13-Month CD at a Michigan CU (Hometown Community)
- 5.75% 20-Month CD at a Illinois CU - Open To All (Consumers)
- 5.75% 15-Month CD at a Georgia Bank (First Georgia Community)
- 5.75% 13-Month CD at a California CU - $90K (LBS Financial)
- 5.70% 12-Month CD at a New York CU (Countryside Community)
- 5.70% 23-Month CD at a California Bank - IRA (Mid-State)
- 5.70% 12-Month CD at a California Bank - IRA (Mid-State)
- 5.70% 22-Month CD at a Pennsylvania CU (Tri County Area)
- 5.65% 12-Month CD at a California Bank (Western Financial)
- 5.65% 15-Month CD at a Ohio Bank (The Grange Bank)
- 5.60% 12-Month CD at a Florida CU (Suncoast Schools)
- 5.60% 12-Month CD at a Florida Bank (Sunshine State Community)
- 5.60% 15-Month CD at a Utah CU (Mountain America)
- 5.50% 13-Month CD at a Washington State CU (GHCU)
Terms of Under 12 Months
- 10.00% 6-Month CD at a Indiana/Michigan/Georgia Bank - $2.5K Max (Flagstar)
- 10.00% 10-Month CD at a Philadelphia CU - $1K Max (American Heritage)
- 10.00% 10-Month CD at a Texas CU - $2.5K Max (Alamo FCU)
- 9.00% 9-Month CD at a Colorado CU - $2K Max (Elevations)
- 6.70% 4-Month CD at a California CU - IRA (Los Angeles Firemen's)
- 6.14% 6-Month CD at a Ohio CU (Maumee Valley)
- 6.14% 6-Month CD at a Multi-State CU (USPS FCU)
- 6.03% 6-Month CD at a Oregon CU (Clackamas Community)
- 6.00% 6-Month CD at a Georgia Bank (Cornerstone)
- 6.00% 7-Month CD at a Connecticut CU (Dutch Point)
- 6.00% 7-Month CD at a North Dakota CU (North Star)
- 6.00% 6-Month CD at a Ohio CU (Toledo Area)
- 6.00% 6-Month CD at a New Jersey CU (Atlantic Health)
- 6.00% 3-Month CD at a New York CU (Advantage)
- 6.00% 6-Month CD at a Michigan CU (Huron River Area)
- 6.00% 5-Month CD at a Arizona Bank (Arizona Bank and Trust)
- 6.00% 6-Month CD at a Illinois/New Jersey/Indiana CU (Selfreliance)
- 6.00% 3-Month CD at a California CU (Meriwest)
- 6.00% 6-Month CD at a Ohio CU (Sharefax)
- 6.00% 6-Month CD at a Nevada CU (Moapa Valley)
- 6.00% 6-Month CD at a Georgia CU and $55 Checking Bonus (LGE FCU)
- 6.00% 4-Month CD at a Michigan CU (Huron River Area)
- 6.00% 6-Month CD at a Missouri CU (American Eagle)
- 6.00% 9-Month CD at a Florida CU (Florida Telco)
- 6.00% 6-Month CD at a Georgia Bank (Alpha)
- 6.00% 7-Month CD at a Colorado CU (Gateway)
- 6.00% 6-Month CD at a Georgia Bank (Midtown)
- 6.00% 6-Month CD at a New York CU (Hudson Valley)
- 6.00% 6-Month CD at a Ohio CU (STECU)
- 6.00% 8-Month CD at a California CU (San Mateo)
- 5.88% 11-Month CD at a Illinois CU (Jeff-Co Schools)
- 5.83% 7-Month CD at a Washington DC CU (Interior FCU)
- 5.75% 9-Month CD at a Rhode Island CU (Wave)
- 5.75% 7-Month CD at a Oregon CU (SELCO)
- 5.75% 6-Month CD at a New York Bank (Park Avenue)
- 5.75% 6-Month CD at a New York Bank (Trustco)
- 5.75% 5-Month CD at a California/North Caralina CU (Alliance)
- 5.75% 6-Month CD at a California Bank (Temecula Valley)
- 5.75% 7-Month CD at a South Carolina CU (Palmetto Citizens)
- 5.75% 6-Month CD at a Illinois Bank (Town Center Bank)
- 5.75% 3-Month CD at a FL/TX/NY Bank (Commercebank)
- 5.75% 11-Month CD at a TX/AZ CU (TruWest)
- 5.75% 7-Month CD at a TX/AZ CU (TruWest)
- 5.75% 7-Month CD at a Florida CU (Eastern Financial)
- 5.75% 6-Month CD at a California CU (Metro 1)
- 5.75% 7-Month CD at a California CU (OCTFCU)
- 5.75% 11-Month CD at a Michigan CU (Omni Community)
- 5.75% 6-Month CD at a Illinois Bank (Town Center Bank)
- 5.70% 11-Month CD at a Oregon CU and $100 Checking Bonus (Advantis)
- 5.65% 7-Month CD at a California Bank (First Private)
- 5.60% 7-Month CD at a Illinois Bank (Prairie Bank and Trust Co.)
- 5.60% 7-Month CD at a Texas Bank (Equity)
- 5.57% 9-Month CD at a Arizona CU (Altier)
- 5.50% 7-Month CD at a Washington State CU (GHCU)
- 5.50% 9-Month CD at a California Bank (Gilmore)
Savings Account/CD Alternatives
- Money Magazine article on risk-free investments
- Fidelity Money Market Fund - 5.05% 7-day yield ($100 bonus and other info)
- Paypal Money Market Fund - 5.03% 7-day yield (1% cashback debit MasterCard)
- FW Thread on Treasury Bills
- I Bond Rate Starting Nov 2006, I Bond Article, I Bonds as CD Alternatives
- SmartMoney Brokerage Survey
Featured Accounts
Useful Resources
Nationwide Savings Accounts
Anonymous - #1, Sunday, December 31, 2006 - 9:28 AM
NOBODY has said they are. But the PenFed offerings are not a slam dunk for depositors. Three years is an eternity in the world of CD investing. Longer terms are just nuts, given circumstances today. Remember to the extent you believe these rates attractive, they are precisely equally attractive to and for PenFed, but for opposite reasons.
Anonymous - #2, Sunday, December 31, 2006 - 2:54 PM
Independence Bank of of Newport Beach has lowered the rate on their savings account from 5.25% to 5.05%.
Anonymous - #3, Sunday, December 31, 2006 - 4:45 PM
Have you checked Millennium Bank? http://www.mlnbank.com
It's premium CD has high rates, but I don't know what's the diff. between their premium CD and tradistional CD.
Anonymous - #4, Monday, January 1, 2007 - 3:51 AM
Yes, we've all heard about Millenium Bank. It is not a US Bank. It is not insured by the FDIC or anyone else. It is located on a small Carribean island with very little government regulation.
Based on a statement on their web site, many people erroneously jump to the conclusion it is a Swiss bank. It is not Swiss and Swiss banking regualations and standards do not apply to it.
If you have some money you can afford to lose, go for it. But the interest rate premium they offer does not, in my opinion, adequately compensate for the added risk. If you want to risk your money, you can get much better returns in other investments.
Banking Guy (anonymous) - #5, Monday, January 1, 2007 - 11:47 AM
Thanks for the good summary of Millennium Bank. I posted on this in October 2005. Please refer to that post for more info.
Anonymous - #6, Monday, January 1, 2007 - 12:17 PM
Patelco 8 month CD is gone.
Anonymous - #7, Monday, January 1, 2007 - 1:41 PM
I concur re Millennium Bank and the need for caution. This is a very popular forum for CD investors. But anyone is permitted to post comments here. That includes principals of Millennium Bank. FDIC or NCUA insurance has real value. Twice in my life I have had banks go belly up with my money inside - big accounts both times. I have never lost a cent. And the FDIC returned my deposits so fast I didn't lose much interest, either! The FDIC (or NCUA): you can't beat 'em with a big stick.
James (anonymous) - #8, Wednesday, January 3, 2007 - 7:05 PM
The Patelco 8-month CD is indeed gone: I opened one on the 30th and the CSR told me it was the last day of the offer.
Banking Guy (anonymous) - #9, Wednesday, January 3, 2007 - 7:16 PM
Thanks for the note on Patelco's 8-month CD. Sorry to see it gone. A reader mentioned that a new CD promo should be starting tomorrow.
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