CD Rates Up at NewDominion Bank - 4.50% 24-Month / 4.25% 12-Month CD

NewDominion Bank has increased its CD rates on terms of 9 months and longer. Many of the rates increased by 25 basis points. The 12-month CD yield is now 4.25% APY. The minimum deposit is $3,000. Most of these terms are also available as an IRA CD with only a $500 minimum. Below is the full list of the old and new CD rates.

Certificate of Deposit Yields as of 7/25/08:

TERM           Old APY  New APY  Change
3 month        3.35%     3.35%    -
6 month        3.70%     3.70%    -
9 month        3.65%     3.90%   +0.25
12 month       4.01%     4.25%   +0.24
18 month       4.20%     4.30%   +0.10
24 month       4.35%     4.50%   +0.15
30 month       4.35%     4.60%   +0.25
36 month       4.50%     4.75%   +0.25
48 month       4.50%     4.75%   +0.25
60 month       4.50%     4.75%   +0.25

Please refer to my July 7th post for more CD details. These CDs can be opened online from any state.

The bank has been FDIC insured since 2005 (FDIC Certificate # 57888). It has a 3 star rating (adequate) at BauerFinancial and also a 3 star rating (performing) at Bankrate.com. Both are based on 3/31/08 data.

Tags: NewDominion Bank, CD rates, IRA rates