Bank Deals Blog: CD Deals

In early October, INOVA Federal Credit Union (INOVA) offered a limited-time 14-month Certificate Special, earning 4.05% APY. The 14-month Certificate Special was quite short-lived, lasting little more than a week. Its replacement was a limited-time 20-month Certificate with the same 4.05% APY. The 20-month Certificate is still available and now offers a competitive 4.75% APY. The minimum opening deposit is $200, with no stated...

If you live in Michigan and are looking for long-term CD with a high rate, the 5-year CD offered by Michigan Schools and Government Credit Union (MSGCU) might be a good fit. In addition to having a competitive 4.75% APY, the 5-year also has a mild 180 day Early Withdrawal Penalty (EWP), a one-time rate bump option, and a low $500 minimum opening deposit. A long-time DA reader described the MSGCU...

Top CD rates are nearing 5%. Most have been either brokered CDs or direct CDs from small banks and credit unions. Synchrony Bank is the first major bank to offer such a high rate on a direct CD (without going through a middleman). Its new 19-month CD Special has a 4.75% APY. In an unusual move, Synchrony is promoting this Special as only being available through December 4, 2022.

The minimum deposit for Synchrony CDs and IRA CDs...

Tennessee-based INSBANK Online recently increased the rates on its 12-month CD (4.65% APY) and 18-month CD (4.72% APY). Following impressive increases of 275 bps and 272 bps respectively, the 12-month CD and 18-month CD are currently offering near-rate leading APYs. The minimum opening deposit is $2.5k, with a balance cap of $240k per CD.

According to CSR, partial withdrawals are not allowed: an INSBANK Online CD...

Last week, Dallas-based State Bank of Texas (SBT) upped the rate on its nationally available 1-year CD Special to 4.65% APY. The 12-month CD Special can be opened with a $25k minimum deposit, with no stated balance cap.

The 12-month CD Special was added back to the product line in December 2021 earning 0.85% APY, which was a competitive rate at the time. Since its debut, there have been 13 rates increases,...

Virginia-based Spectra Credit Union (Spectra CU) added two Share Certificate Specials (SCS) to its product line last week. This limited-time offering consists of a 14-month SCS (4.85% APY) and a 7-month SCS (4.44% APY). The minimum opening deposit is $5k of new money, with no stated balance cap. New money is defined as “funds from sources other than Spectra Credit Union.”

Earlier this week, Connexus Credit Union (Connexus) unveiled a very competitive 15-month Share Certificate Special. Earning 4.85% APY, the 15-month Share Certificate Special currently has the highest APY offered on nationally available 15-month and 18-month CDs. The minimum opening deposit is $5k, with no stated balance cap.

The Share Certificate Special is offered as an IRA Certificate Special (Traditional and Roth), earning the same APY with the same deposit requirements.

That was the lede in an email I received from USALLIANCE Financial (USALLIANCE) yesterday. By the time you read this blog post, USALLIANCE will have raised the 11-month No Penalty CD rate to 4.00% APY. The minimum opening deposit is $500, with no stated balance cap.

The new 4.00% APY is the 11-month No Penalty CD’s highest rate this year and is also the highest rate offered on any non-brokered nationally available short-term...

As DA reader, bisenber, noted in a Forum post earlier this month, Bread Financial has again raised the rates on all its CDs and the High-Yield Savings account. Unlike previous rate increases that benefited the shorter-term CDs, the most recent rate increases boosted the 4-year CD (4.65% APY) and 5-year CD (4.75% APY) to...

Seven months ago, District of Columbia-based Department of Commerce Federal Credit Union (DOCFCU) became an ‘Easy Membership Requirement” credit union and subsequently upped its CD APYs to rate-leading levels. Although those outstanding APYs were short-lived, DOCFCU CDs became competitive again this fall.

Following across-the-board CD rate increases (16-32 bps) last week, the 36-47...