Relationship Rates on Your CDs - Worthwhile or Too Much Hassle?

Some banks and credit unions offer much higher CD rates if the member qualifies for a certain relationship level. Meeting this relationship requirement isn't always easy as we learned with Digital Credit Union. Nevertheless, this is one way savers can increase their deposit rates when every little bit helps in this awful interest rate environment.

For special CD rates at banks, it's often common for the bank to require a checking account to qualify for the CD special. This is sometimes an easy requirement if the checking account can be maintained with a small balance without monthly maintenance fees. However, there are cases in which an institution requires an active checking account. One example is at Connexus Credit Union.

Sometimes all you have to do is to meet the relationship requirement at the time that you open the CD. After that, you don't have to maintain the relationship. Your CD rates will last until maturity. However, this isn't always true. There are cases where a member can lose the rate bonus during the term of the CD if the member's relationship ends. One example is at AmeriCU Credit Union.

That brings me to today's poll question: Do you have CDs that required you to meet some relationship requirement?

If you have opened CDs that had relationship requirements, do you have any tips? Have any banks or credit unions removed a relationship rate from you on an active CD? Or have you been able to get a relationship rate without fully meeting the requirements?