CD Bank
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written by Ken Tumin
\r\nBanks and credit unions are battling it out for deposits...\r\nSee More\r\n
\r\nBanks and credit unions are battling it out for deposits. Competition among financial institutions provides investors a broad menu of choices when it comes to certificates of deposit (CDs). We track daily rates from thousands of institutions to help you compare the best CD rates and find the best deal on your next CD. This table compares CDs of all maturities, making it easy to find the highest CD rate regardless of term. The highest rate CD often doesn’t have the longest term.
\r\n See Less\r\nBanks and credit unions are battling it out for deposits. Competition among financial institutions provides investors a broad menu of choices when it comes to certificates of deposit (CDs). We track daily rates from thousands of institutions to help you compare the best CD rates and find the best deal on your next CD. This table compares CDs of all maturities, making it easy to find the highest CD rate regardless of term. The highest rate CD often doesn’t have the longest term.
\r\nCompare rates on 6 month CDs from banks and credit unions. Use the filter box below to customize your results. Click here to read more about features and tips related to 6-month CDs.
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\r\n","StateBlurb":"Compare 3 month certificate of deposit rates in [state]. Rates on CD products can vary greatly between banks. That is why we check both national and local banks every day to provide you with a wide selection of 3 month CD rates available in [state]. If we have missed a local bank in your area please contact us and let us know by using the email link below.","Active":true,"MinAmount":2000.0000,"MaxAmount":999999999.0000,"MinTerm":1,"MaxTerm":135,"AdditionalProducts":"","Tags":"-youth,-club,-misc,-business,-relationship,-health","PageTitle":"3 Month CD Rates - Compare rates on 3 month certificates of deposit.","StatePageTitle":"[state] 3 Month Certificate of Deposit Rates","DefaultAmount":25000.0000,"Meta":"","StateMeta":"","Article":"","ShortName":"3-month CD","IsSectionIdNull":false,"IsNameNull":false,"IsInformaCodeNull":false,"IsUrlNull":false,"IsBlurbNull":false,"IsStateBlurbNull":false,"IsActiveNull":false,"IsMinAmountNull":false,"IsMaxAmountNull":false,"IsMinTermNull":false,"IsMaxTermNull":false,"IsAdditionalProductsNull":false,"IsTagsNull":false,"IsPageTitleNull":false,"IsStatePageTitleNull":false,"IsDefaultAmountNull":false,"IsMetaNull":false,"IsStateMetaNull":false,"IsArticleNull":false,"IsShortNameNull":false,"FullUrl":"/cd/3-month-cd-rates.html","TagArray":[],"NegativeTagArray":["youth","club","misc","business","relationship","health"]},"Ad":null,"NationalRate":1.5869,"Score":300.0}];Friendly Customer Service And Best Rate Ever!
We were looking for a 2 yr CD as we had a 5 yr cd that matured. It took a week to get that 5 yr CD in the mail - from another bank. We are not bothered by CD bank mailing checks -and were thrilled to see this 3.2% rate. The early withdrawal penalty is not a problem A couple of days after filling out application on line - I called and talked to Jakayla a very friendly services rep - to see what else I would need to do - as online instructions said I would get an email - didn't get an email -so wanted to be sure application had gone thru. We live in the middle of the ocean so don't have the most reliable internet. Jakayla explained the paper work I needed to mail in with signatures - which we did.
I waited 4 days after mailing - our mail service has its issue as well -on Thursday - luckily talked to Jakayla again - she checked and paperwork not in yet- but it arrived next day. By Monday we had our account set up- and even though the ACH funds were not withdrawn from our bank until Tuesday we still got the 3.2% - ( this was May 21) rates had dropped on Monday!
We are so glad we chose CD bank and will do so in the future.
Heirloom Cds
What's been happening is someone got a CD a time ago either for themself or someone else maybe for a birthday or other special event. The case I'm referring to is someone's grandma bought a kid a birthday CD in, say 1986. The said CD was $5000 for a 5 years. The CD has long ago matured and supposedly rolled a few times. FFWD to the present the beneficiary goes into the bank to get his or her cash. Much is to do about the faux parchment document with large seals and ribbons hanging from it bordered in gold which indicates a CD was instituted AD June 10, 1986. A bank teller summons another employee and together they do a quick search informing the person there is no record of a CD as such existing. The bank destroys records after 7 years. The document itself holds no cash value it merely shows that once upon a time a CD was purchased and since there is no record of it existing in the present day it must have been cashed. An in depth search waw mounted and after a time a cookie cutter letter was sent out from Minneapolis stating there is no record of a CD in their files.
The bank started out as Bank of Glacier County, then Marquette Bank, to its present First Interstate. There was no favorable recourse to these people. The bank and legal community felt there was no further action they could take that would result in a payout to the document holder.
Great Rate: Considerations ....
Best 12 month CD rate to my knowledge (as of 5/6/19). Consider: while you may electronically transfer money in you cannot electronically transfer out. Instead they send a check if you ask for it. When I spoke with a representative he said this could change in the future." Hopefully it does. Another consideration is that the current rates posted on the site are said to be valid "as of 4/23" - nine business days ago.
Worst Experience Ever
It took 12 days to open an online CD and another 14 days to get confirmation that the account had actually been opened. I could not reach customer service for a week, just got a recording telling me to leave a number. No messages were ever returned. I lost $175 in interest waiting for my CD to be opened. Not worth the few basis point of extra interest. No telling how long it will take to get my money back when the CD matures.
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 23498 |
| Year Established | 1981 |
| Employees | 1469 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.92% |
| Return on Equity - YTD | 5.35% |
| Annual Interest Income | $206.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $5.65B$5.95B |
| Loans | Q2 2023vs Q2 2022 | $4.29B$4.42B |
| Deposits | Q2 2023vs Q2 2022 | $4.32B$4.81B |
| Equity Capital | Q2 2023vs Q2 2022 | $961.3MM$996.3MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $35.0MM$43.4MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $35.1MM$48.7MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$169.00K |