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Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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New Competitive 1-Year and 18-Month CD Rates at Incredible Bank - Available Nationwide


Incredible Bank

When Incredible Bank relaunched its internet CD in December, it was far from incredible with a unimpressive yield for a 1-year term. It has become a little more incredible with a recent rate hike. The new 1-year CD rate is 1.45% APY. They've also introduced a new 18-month CD with a 1.55% APY. These rates are listed at as of 2/14/2011. Thanks to Wil who mentioned these new rates in the discussion forum..

Some of the important CD features described at the bank's account overview page and in the bank's FAQ page include:

  • $10,000 minimum deposit
  • $90,000 maximum deposit per CD
  • Can be funded with an ACH transfer
  • Early withdrawal penalty is 6 months of interest
  • 10 calendar day grace period at maturity

Incredible Bank continues to offer a competitive internet checking account. It has been over 15 months since my first review of this checking account, and during during this time, the rates have remained very competitive. As of 2/14/2011, the rate is 1.35% APY on balances up to $250K. Unlike reward checking accounts, it doesn't have any requirements to qualify for this yield. Last November, I did an updated review of Incredible Bank's checking account.

Incredible Bank is a division of River Valley Bank which is based in Wisconsin. The bank has $1 billion in assets. Its health scores went down a little when new data came out in September. Its overall health score at is 3 out of 5 with a Texas Ratio of 23.84% (above average) based on September 2010. Please refer to our financial overview of Incredible Bank for more details. The bank has been a FDIC member since 1967 (FDIC Certificate # 19772).

Other Top CD Rates

It'll take a lot more work than these Incredible Bank CDs, but you can get up to 2.10% APY for a 1-year term at Justice Federal Credit Union (as of 2/14/2011). I reviewed this Justice CD rate yesterday.

Another option is to choose a long-term CD with mild early withdrawal penalties. As I described in this Ally Bank CD review, this can be better deals than short-term CDs even if interest rates shoot up in the next year or two. In this CD rate strategy review I discussed this going-long strategy with some of the risks.

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of

Related Pages: Incredible Bank, CD rates

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