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GMAC's Long Term CD Rates Move Up Slightly


Friday seems to be the usual day in which GMAC Bank introduces new rates. It has been two weeks since GMAC Bank last did a rate bump on their money market account. I was hoping for another one today, but no luck. Their money market APY remains at 4.75%. And unlike last week, there were no changes on the short term CD rates. However, long term CD rates were increased by 0.05%. GMAC Bank's 2-year and longer term CDs are now at 5.35% APY. Below are the full list of old and new rates:

GMAC Bank Certificate of Deposit Rates:
Term Old APY New APY Change
3 months 4.85% 4.85%
6 months 5.10% 5.10%
9 months 5.15% 5.15%
12 months 5.30% 5.30%
18 months 5.30% 5.30%
2 years 5.30% 5.35% +0.05%
3 years 5.30% 5.35% +0.05%
4 years 5.30% 5.35% +0.05%
5 years 5.30% 5.35% +0.05%
Steve Holt
Steve Holt (anonymous)   |     |   Comment #1
Ken - I was told by a GMAC CSR that Friday will always be the day the new rates are announced by GMAC for the week. I also believe that Corus always gives their new rates on Tuesdays. Keep up the great work...awesome website!!!