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  2. GMAC's Long Term CD Rates Move Up Slightly

GMAC's Long Term CD Rates Move Up Slightly

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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%
Comments
Steve Holt
  |     |   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!!!
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