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About Ken Tumin About Ken Tumin - Founder and Editor

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.

Featured 2-Year CD Rates

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Featured Accounts
DETAILSINSTITUTIONAPYMINMAXPRODUCT
Bank of Oklahoma1.30%$100k-7 Year Fixed CD
Credit Union of Atlanta0.05%$500-12 Month Share Certificate
Accounts mentioned in this post. Rates as of April 19, 2014

Survey of the Best Local CD Rates in Dallas, Atlanta, Phoenix, San Diego and Other Cities

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Last week I did a short survey of the best local CD deals. This is an updated version of that survey. As I mentioned last week, this used to be in my Saturday weekly summaries, but I decided it would be better for a separate post.

Fortunately, most of the CD rates haven't fallen since last week. However, with May starting on Sunday, we may see some rate drops next week especially at credit unions.

I've added quite a few new long-term local CDs. One thing to keep in mind with any long-term CD is the early withdrawal penalty. Some banks and credit unions have very harsh penalties. One example is Dime Savings Bank, It currently offers the best nationally available 7-year CD, but the early withdrawal penalty is 2 years of interest which is twice as big as most 7-year CDs.

So you can see how these rates compare, I'm including the best CD rates that are available nationwide. These are often from credit unions which anyone can join via an association. I'm also including more than one CD for each category. For example, Connexus Credit Union has 3 best CD rates, but these require an active checking account. Since many don't want to worry about maintaining another checking account, I'm including another CD without any checking requirement. And I'm including Ally Bank's 5-year CD for many of the short-term CDs. As I described many times, these can be better deals than short-term CDs due to the 60-day early withdrawal penalty. I've included a link to a discussion of this strategy that describes the potential risks.

As I described in my rate table overview, you can use our rate tables to find the best local CD rates. One thing that complicates looking for local rates is that it can be hard to know the areas served by small banks and credit unions. So in my list below, I primarily focus on banks and credit unions that serve large regions or large metro areas. My criteria is that they offer rates higher than the nationwide equivalent CD. If the rate is high enough, I'll also mention a bank or credit union even if it's not in a large populated area. These aren't hard rules. They're just general rules to keep the list manageable and useful.

Rates Accurate as of 4/29/2011

Under 1-Year CD Rates

  • Noteworthy Local Deals

1-Year CD Rates

  • Noteworthy Local Deals

18-month CD Rates

  • Noteworthy Local Deals

2-Year CD Rates

  • Noteworthy Local Deals

3-Year CD Rates

  • Noteworthy Local Deals

5-Year CD Rates

  • Noteworthy Local Deals

Over 5-Year CD Rates

  • Noteworthy Local Deals
  Tags: CD rates, Sovereign Bank (TX), Credit Union of Atlanta, Bank of Oklahoma, State Bank of India (California)

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