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Investing in Certificate of Deposit (CD) Accounts

As one’s assets and cash stocks increase, households and individuals have to look for financial instruments other than what is readily available and common. By diversifying the forms of funds, an individual can ensure maximum financial growth for their investment. After acquiring a savings account, getting certificates of deposit represents the next level of financial stability.

A school scholarship is a finance instrument that gives investors mid-term to long-term stability. Unlike saving accounts, certificate of deposit accounts are harder to convert. These accounts are also harder to move because it assumes that the investor applied for this option to save money. Thus, certificates of deposit are not as accessible as other savings instruments until the certificate of deposit matures. The interest on savings in certificate of deposit accounts is fixed throughout the term of the certificate of deposit. However, some banks allow individuals to hike up the interest once during the term of the investment.

Unlike a tuition, certificate of deposit accounts are secure investments, especially when compared to other savings options like mutual funds, stocks, and other private equity investments. Because of this “security,” interest rates on savings are lower compared to other instruments. At the same time, the bank may impose a fee if you remove some of your money before your CD matures. A special certificate of deposit arrangement allows you to withdraw the money from the interest earned. In this way, you can reap the benefits of the interest without debiting from the principal.

Account holders can get better interest rates if they allow a longer maturation period. Account holders with large sums of money on their certificate of deposit can also be given optimal interest rates. Certificate of deposit accounts are not just a smart alternative for other financial tools. They have become one of the primary financial tools for heavy savers.

Benefit From Certificate Of Deposit Interest Rates

You can take advantage of the certificate of deposit interest rates. Certainly you can benefit from the interests that your account will accumulate over time.

• There are ways to benefit from certificate of deposit interest rates, and one of which is to find the best possible rates available before locking in your funds with a local bank. This way, you are ensuring your profits before hand while looking at all possible options you can have.

• Another way to benefit from CD rates is to combine your account if you have more than one CD account in the bank. You may have 2 CD accounts but one has a lower interest rate locked in. You may prematurely withdraw your low-rate CD account to incorporate into the other account. You should ask your bank with this decision before anything else. Discuss with the bank the consequences of doing so.

• No matter what you do, do not withdraw your funds prior to the maturity date. The penalties you will be paying in doing so will only put the interest into waste.

• Know the rules and regulations about CD interest rates. Upon your application for CD account, you can ask about these policies from your local bank. Take the time to go through the policy and other paperwork before deciding and depositing your money.

• Scout for the best bank that offers high interest rates on CD’s. You can go online or offline during this process, but make sure to look for legitimate banks that offer legitimate rates as well.

• Avoid offers from brokers or getting a brokered CD. If you want to maximize on your CD’s interest, you should deposit your money directly to the bank and talk to the bank’s representative instead of letting a third party do the work for you. You will be charged for the services and some may even get a percentage from your profits.

• Understand the mechanics of maturity date. If you do not fully understand this crucial factor in CD investing, you should approach your local bank and ask their assistance.

A better understanding of the maturity date of your CD account will help your money to profit over time. It will also help you understand that time is always a crucial factor in investing money in any type of investment platform.

You can surely benefit from certificate of deposit interests as long as you know when and where to scout for banks or financial institutions. The key to finding the best offers is to do this prior to signing and depositing your money.

You should also check with banks regarding the minimum investment amount. Although time and interest rates play important roles in the profit-making process of a CD account, you should also consider the amount of money your will be investing in.

There are many other ways to benefit from certificate of deposit interests. The key is timing to everything and every decision you will make that involves your money. Do not rush and make hasty decisions to be able to get the full benefits from certificate of deposit interest.

Evergreen Private Bank 5 Month Certificate of Deposit

Evergreen Private Bank is listing two very competitive Certificate of Deposit rates. These include a 4.25% APY 5-month CD and 4.15% 12 month CD. The minimum desposit to open is $10,000. Either new money or additional account relationships are required. The rate table is dated at 2/8/2008 but the rates are effective as of today.

New customers are required to visit a branch to open the account. Branches are located in Oak Brook which is in the suburbs of Chicago. The bank has been FDIC insured since 1934 (Certificate # 35230).

National City Bank 5.00% CD Accounts

National City Bank is offering a 5.00% APY 48 month or 54 month CD special and will last through March 15, 2008. The minimum deposit to open is $10,000. You can also settle for a lower 4.80% APY for a deposit under $10,000.

To qualify for this CD, you must have an existing National City National City checking or savings account, or you must open a new checking, money market, or savings account with a opening balance of $1,500. It lists at the bottom of the sign up page that free checking account doesn’t qualify which means there is a $10 monthly maintenance fee.

Application can be done online, or over the phone. If you choose to sign up by phone, National City Bank will sent you a signature card which you must sign and mail in with a check to fund the account. See more bank cd rates at this site.

Alliant Credit Union 5.90% Jumbo CD Account

Alliant Credit Union is offering a 4.90% APY Jumbo CD rate with very flexible terms of 12 to 17 months. The minimum deposit for this rate is $25,000.

Opening a CD Account:

You are required to become a member with Alliant Credit Union by opening a primary savings account with Alliant Credit Union first before you can open a CD account. The funds for the CD will be transfered over from the savings account. Alliant Credit Union doesn’t have the ability to initiate fund transfers online, you must initiate it from the source of your funds.
# The CD account application can be done through Alliant Credit Union’s online banking program SkyBranch. You can access the sign up page with your membership account number and access code, it’s under “open new accounts”.
# Membership application can also be done over the phone, just call their customer support at 800-328-1935, it’s 24/7 personal assistance.
# A branch visit for sign up is also welcomed. Branches located in San Francisco, El Segundo, and San Mateo, California. There are also branches in Illinois, Colorado and Virginia.

Alliant Credit Union is NCUA insured (Charter # 67955) with 210,332 members and $4.8 billion in assets. Bankrate.com gives it a rating of 3 out of 5 stars.

Westsound 4.20% CD Interest Rate

Westsound Bank has a special 6-month Certificate of Deposit with a yield of 4.20% APY. The minimum deposit eligible to earn APY is only $500 ($100 for IRA accounts).

I called customer service and was told a walk in sign up is required for this account, and membership is available only to those who live, work or worship in the state of Washington. I was also informed that the early withdrawal penalty on this CD account is 3 months of interest for terms over 12 months and 30 days for terms of under 12 months.

The main branch is located in Bremerton, about 60 miles south of Seattle. Westsound Bank is federally insured by the FDIC since 1999 (Certificate # 34843).

PenFed Credit Union 5.00% CD Account

Pentagon Federal Credit Union has several long term CD specials with competitive rates. PenFed Credit Union’s highest CD rate is currently the 7 year 5.00% APY Certificate of Deposit with $1,000 minimum. There’s also a 4.50% APY 3 year CD with the same requirements. Both are also available as an IRA and a money market account.

Once you are locked in for the term of the CD, only the 3.50% APY 6-Month CD earns dividends on a simple interest basis. All the other CD terms will have daily compounding interest and you have the option of choosing whether being paid monthly or at maturity. Upon maturity, your certificate will automatically renew unless you request a change of option either by phone or via online banking.

Application is online, you will first need to create an account with PedFed Credit Union, and then you can transfer funds via free ACH online transfer.

Pentagon Federal Credit Union is federally insured by the National Credit Union Administration (NCUA) up to to $100,000 USD. This credit union has more than 764,000 members and $11.2 billion in assets.

*Please note that penalty may be imposed for early withdrawal and service fees may apply.

Millennium Bank 4.75% Certificate of Deposit

Millennium Bank is offering a 4.26% APY 6 month Certificate of Deposit special with $1,000 minimum deposit. While a 4.26% APY yield may not seem very high, but after the massive recent Fed rate cuts, this is a competitive CD rate.

The interest on this Certificatie of Deposit compounds and pays quarterly. At maturity, you will have 10 grace period days to action before it rolls over on to another CD with an updated rate. The penalty for early withdrawal is 3 month of interest with no principle protection.

Because this isn’t an internet CD, a branch visit is required to open an account. Millennium Bank is located in Des Plaines, IL about 30 miles from the city of Chicago.

Millennium Bank is a member of the FDIC, (Certificate # 34946). For more information, please visit Millennium Bank CD rates deposit home.

Flagstar Bank 4.40% CD Account

Flagstar Bank is offering the highest 12 month Certificate of Deposit rate at 4.40% APY in selected states. The minimum deposit is only $500 and it can be opened as an IRA account.

Flagstar Bank is also offering a competitive, 25 basis points lower 18 month CD at 4.15% APY yields. The deposit requirements and characteristic will be the same as the 12 month CD.

Branch visits will not be required for sign up because this rate is only available through an online application. Furthremore, this CD account is for personal use only, it cannot be brokered or opened as a corporate account. The penalty for early withdrawal on a 12 to 29 month CD account will be 180 days of interest.

Flagstar Bank is a member of the FDIC, (Certificate # 32541). For more information, please visit Flagstar Bank’s CD rates homepage.

Countrywide Bank 4.75% CD Account

Countrywide bank is currently offering the highest yielding 6 month CD at 4.75% APY. The minimum deposit required to open this account is pretty high at $10,000 with compounding daily interest. Monthly checks are also available but account earnings and balances are usually paid in full at maturity. The interest rate is guaranteed for the term of the CD meaning this isn’t a callable CD.

Membership for this high yielding CD is only available when you apply online. If you call or do branch visit to sign up, the rate falls to 4.15% APY.

There is a 90 day simple interest penalty for early withdrawal. If there is any possibility of withdrawaling the principle before the CD maturity, it’s better to invest your money in something more liquid like a savings account.

The Daily Banker mentioned about the worrying financial condition of Countrywide Bank and Bank of America’s acquisition negotiations in the past. If all of this goes through it will definately becomes a moot point in the banking industry.

Countrywide is FDIC insured, (Certificate # 33143). As with any bank, it’s always safe to stay under the FDIC limits of $100,000, especially one with financial problems.

For more information regarding opening an account, please visit Countrywide Bank’s deposit homepage.

Indymac 4.25% Cerificate of Deposit Account

Indymac Bank is offering a 4.25% 3 month internet only Certificate of Deposit with $5,000 minimum deposit. This is the highest yield APY CD rate on Indymac Bank’s for 90 days to 5 years CD rate tier. Due to the recent massive fed cut, all CD terms longer than 3 months will drop into the 3.00% APY range, the Indymac Bank 3 month CD is simply the best choice.

The interest on the Indymac Bank’s Certificate of Deposit, depending on the term of the CD, is compounded daily and can be paid monthly or at maturity. At maturity, your CD will also renew automatically for the selected term at the most current rate offering by Indymac Bank at that time.

The peanlty for early withdrawal for this particular Certificate of Deposit is 1 month of simple interest at the rate being paid on the amount withdrawn with no principle protection.

Indymac Bank also offers customized Certificate of Deposit terms, for more information, please visit Indymac Bank’s deposit homepage or contact their Customer Contact Center at 1-877-748-0004.

Countrywide Bank 5.35% CD Account

Countrywide is offering a 4.90% APY 3-month Certificate of Deposit. The minimum deposit is $10,000. Its other terms are also very competitive with yields ranging from 4.75% APY for a 9-month term to 4.00% APY for a 12-month term. These are also available in an IRA. Please see rate table for more details.

Due to the recently feds rate cut, 4.90% APY is currently the highest CD rates in the nation. Interest is compounded daily and credited to your account each month with guaranteed rates for the term of the CD. Monthly interest checks are also available.

There are no fees associated with this account and the penalty for early withdrawal for a 3 month to 12 month term CD would be 91 days of simple interest at the rate paid to the account.

For more information, please check out Countrywide Bank’s CD rates homepage.

LA Financial Credit Union CD Account

L.A. Financial is currently offering the highest CD rates at 5.75% APY with a 13 month term. The minimum deposit on this CD account is $1,000 with at least half of the deposit money being new. Membership requires a new L.A. Financial checking account with direct deposit. The yield without it drops to 5.25% APY.

This Certificate of Deposit isn’t an internet CD so you must mail in your application. Membership for this CD account is open to those who live in Los Angeles County, California and also to anyone who lives or works in Lake Havasu City, Arizona. Please refer to L.A. Financial Credit Union’s membership page and Havasu Community Credit Union’s membership page for more details.

January 31, 2008 is the last day to take advantage of this great Certificate of Deposit offer and many customers didn’t want to hassle with the direct deposits because with the huge recent Fed rate cuts this is still the best CD rate even at 5.25% APY.

Countrywide Bank 5.50% CD Account

Countrywide is offering the highest local CD (Certificate of Deposit) rate at 5.10% APY with a 3 month term. This CD available country wide, but this particular rate of 3 month 5.10% is only available for the state of California. You can check this by visiting Countrywide’s rate tier and typing in your zip code. If you are in California, the rate for the 3 month CD should change from 4.80% to 5.10%.

The Annual Percentage Yields (APY) is effective as of Monday, January 28, 2008. The minimum deposit to open a CD account and obtain the APY is $10,000 for a regular CD and $2,500 for an IRA CD. The penalty for early withdrawwl will 91 days of simple interest at the rate then paid on the account, whether or not paid or earned, on the amount of principal withdrawn.

By comparing CDs, I personally think this will be the highest and last 5.00% APY CD by Countrywide Bank, so take advantage of this offer while it lasts.

Flagstar Bank 5.00% APY CD Accounts

Flagstar Bank is currently offering a great 3 month 5.00% APY CD with an actual rate of 4.92%. This is an internet CD and the best interest CD rate offered by Flagstar Bank. The minimum deposit to open is $500. This CD is also available in an IRA account.

The CD interest is compounded quarterly and for balances up to $10,000 or more, customers can get paid every month by mail. There will be a 10 day grace period when the CD maturity when you can add to the CD, withdrawal, or you can wait until the grace period is over and it will automatically roll over.

Flagstar Bank is also offering a few other certificates of deposits explained below:

Certificate of Deposit (CD) tier:
-$500 deposited for 3 months is offered a CD (Certificate of Deposit) rate of 4.92% with 5.00% APY.
-$500 deposited for 12 months is offered a CD (Certificate of Deposit) rate of 4.83% with 4.91% APY.
-$500 deposited for 18 months is offered a CD (Certificate of Deposit) rate of 4.78% with 4.86% APY.
-$500 deposited for 24 months is offered a CD (Certificate of Deposit) rate of 4.78% with 4.86% APY.
-$500 deposited for 30 months is offered a CD (Certificate of Deposit) rate of 4.78% with 4.86% APY.
-$500 deposited for 36 months is offered a CD (Certificate of Deposit) rate of 4.78% with 4.86% APY.
-$500 deposited for 48 months is offered a CD (Certificate of Deposit) rate of 4.78% with 4.86% APY.
-$500 deposited for 60 months is offered a CD (Certificate of Deposit) rate of 4.78% with 4.86% APY.

From the above Flagstar Bank’s CD rates tier, it’s clear that investing in any other CD other than the 3 month and 12 month CD wouldn’t be a smart decision. It is better off to invest in the 3 month CD, get the highest rate and let it automatically roll over than to lock your money in a 60 month CD for a lower rate.

Early withdrawls peanlty before the maturity of this 5.00% APY 3 month is a 30 day interest under Flagstar Bank’s ‘Truth in Savings Disclosure’ statement. There is no principle protection program.

Indymac Bank 5.15% CD Account

IndyMac Bank is offering a 7 month 5.15% APY internet CD (Certificate of Deposit) and discontinued it’s old 4 month 5.25% APY CD by lowering the APY to 4.10%. With the economy weakening, the bank responded quickly by dropping rates all across the board for CDs and savings account.

Certificate of Deposit rates above 5.00% APY might be history in the very near future.

Like CountryWide Bank, IndyMac is also running into mortgage home loan problems, losing more than $200 million in the third quarter. Moody Investors said IndyMac’s mortgage lender’s business and portfolio rating is much similar to the constantly lowering mortgage debts from the market. With it’s portfolio already dented, please try to stay under the FDIC limits of $100,000 for this 7 month CD.

Equity Bank 5.10% CD Account

Equity Bank S.S.B., chartered under Texas Department of Savings and Mortgage Lending is offering a promotional 7 month CD with an annual percentage yield of 5.10% and an actual rate of 4.95%.

Even though this is not the highest or the best cd rates on the market today, this CD however has one of the most well rounded requirements with minimum $1,000 to open and only 1 month penalty interest for early withdrawl. Furthermore, this 7 month 5.10% APY CD is also the highest CD rate that Equity Bank offers, you can find more information regarding Equity Bank’s CD and IRA products rate tier here.

Equity Bank S.S.B., member of FDIC, provides insurance maximum amount allowable by law of $100,000.

To open an account, simple call 214-237-3170 and a customer service representative will assist you.

Superior Savings 5.25% CD Account

Superior Savings of New England is offering a great 7 month 5.25% APY CD rate. The actual rate on this Certificate of Deposit is 5.12% with a minimum deposit of $500 USD. It is FDIC insured up to 100k with compounding interest daily reinvested back into the account.

This Certificate of Deposit has an exceptionally high 6 month interest penalty for early withdrawl with no principle protection program. So please invest knowning that it will most likely be locked in the full 7 months.

Branches of Superior Savings of New England are located in Connecticut (main office), and in the Bronx, NY. This CD is however available to other states as well. To open, simply download the application and mail it in with the required information. You can fund the account with either an ACH transfer or mail in a check.

MidFirst Bank 5.90% CD Account

MidFrist Bank is currently offering a 7 year 5.90% APY Certificate of Deposit in the state of Arizona and Oklahoma. If you wants to open this CD from any other state, you will need to a walk in and provide all legal documentation. The minimum deposit is $5,000 and it’s FDIC insured up to 100k. Because this is the best CD rate at 5.90% APY, if you want to invest beyond the FDIC insured limits, you can always add a beneficiary to the CD account like your children. Each beneficiary is an additional 100k FDIC beneficiary insurance.

Another thing to keep in mind when investing in this long term high yielding CD account is the fact that this is a Callable CD. A Callable CD is basically a Certificate of Deposit that is able to be “Called back” by the bank after it’s call-protection period and before it’s maturity. This serves to give the bank the ability to give the best CD rate possible without losing interest on the long run. For this particular MidFirst Bank 5.90% 7 year CD, the call protection period is 1 year.

Penalty for early withdrawl is 24 month of interest with no principle protection program. For more information, please call MidFirst Bank’s customer support at 1-888-MIDFIRST inquire about this particular CD not listed on their website.

Countrywide Bank 5.35% CD Account

Countrywide Bank is currently offering great a 6 month 5.45% APY internet Certificate of Deposit. This is the highest CD rate out of Countrywide Bank’s CD tier, the only other great rate worth looking at is the 9 month 5.15% APY, you can find the complete chart here.

The minimum deposit on this 6 month CD is a little bit high at $10,000. Interest on this CD will compound daily with monthly checks available. As far as money transfer goes, you can do it by ACH transfer ini 3 business days or you can write a check and mail it in.

There is currently news circulating around the internet regarding Countrywide Bank’s shares dropping and making up bankruptcy stories. You can read the complete store here at Bank Deals. Thus I would suggest anyone who is interested in this CD to stay under the FDIC insured limit of $100,000.

Soltex Federal Credit Union 5.28% CD Account

Soltex Federal Credit Union is currently offering a 12 month CD with a 5.28% APY with 5.16% interest. Other high yielding rates by Texas CU would be their 6 month 5.15% APY CD rate and 24 month 5.05% APY CD rate. This rate is only available to Texas CU members that have opened a savings account with them before. The minimum deposit to open a savings or checking account with Texas CU is only $5.

Because this is not an internet CD, membership for this Certificate of Deposit is open to anyone living in the vincinity of La Porte, Texas which is located right outside of Houston.

FNBO Direct 5.25% CD Account

FNBO Direct is currently offering a 5.25% APY Certificate of Deposit with an interest rate of 5.05%. The minimum deposit on FNBO Direct’s best cd rate is $500 with FDIC insurance of up to $100,000. This is an online only Certificate of Deposit, which means you can open it in any state as long as you are an existing customer with FNBO Direct. So if you don’t have an accoun with FNBO Direct, you will need to first open a FNBO Direct savings or checking account before you can enjoy the rates of this 9 month CD.

The interest on this 9 month CD is compounded daily and will be credited quarterly. Once you reach maturity on this Certificate of Deposit, you will have 10 days to decide weather to withdrawl the principle with compounded interest. If there is no response within 10 days it will automatically renew and will be locked in the new Certificate of Deposit rate for another 9 months.

To apply online, simple go to the FNBO Direct website and apply.

*No penalty for early withdrawl will be applied to the savings account, but it will cost you 3 month worth of interest if you withdrawl early for the 9 month CD. This penalty can actually hurt your principle if you withdrawl before the 3 months.

TD Ameritrade 5.50% CD Account

TD(Toronto Dominion) Bank is currently offering a great 3 month 5.30% APY CD through TD AMERITRADE. This is a broker CD which means you can reinvest payment at maturity, but you can’t compound the itnerest and reinvest the interest back into the CD account. It’s a simple interest paid at maturity and not monthly. This CD has a high mimimum deposit requirement of $10,000 and deposit limit is the FDIC limit of $100,000. You can invest this CD as an IRA (Individual Retirement Accounts) and get a higher FDIC insurance of up to $250,000.

Because this CD is a broker CD, the penalty for early withdrawal is different from bank CD accounts. A bank CD account will usually charge you a certain month’s interest and most likely will not hurt your principle amount deposited. This CD is different because if you want it before the maturity date, they will find a secondary market buyer to buy it and thus you can actually LOSE your principle amount. Your penalty will be the spread between how much TD AMERITRADE broker sells and buys the Certificate of Deposit.

To open an account, you can go to TD AMERITRADE’s website or you can locate a branch near and open it at a branch.

ETRADE 6 Month CD Rates

E*TRADE Financial is currently offering a great 6 month 5.25% APY Certificate of Deposit. This CD is the highest cd rate out of all the Certificate of Deposits that E*TRADE Financial offers. The minimum deposit on this is $1,000 and there’s no deposit limit but do remember that it’s only FDIC insured up to $100,000. This CD has an automatic renewal at maturity and a guaranteed safety of principal. The guaranteed safety of principle only applies to early withdrawals before the CD maturity. Many banks will charge you penalty that will touch your principle amount deposited into the CD. E*TRADE Financial will only penalize you for half of the term interest that you earned on the CD and they will never touch the money you deposited. In other words, you have absolutely nothing to lose.

To open up an account, you can either go to E*TRADE Financial’s website and apply online. Once you complete your application, E*TRADE Financial will sent you a confirmation email with instructions on how to fund your account.

Countrywide Bank Certificate of Deposit Rates

CountryWide bank is offering an online 3 month CD of 5.45% APY with $10,000 minimum deposit. The interest on this Certificate of Deposit is 5.30% and it has an early withdraw penalty of 91 days of simple interest. This special CD rate can only be applied online and there are no fees assocaited with it. Once your application is approved, there are three major ways of transfering the funds over. You can wire it over, transfer it electronically, or you can always mail in a check. CountryWide is a trusted bank with FDIC insured deposits of up to $100,000.

*CountryWide Bank is also offering a promotional 3 month Certificate of Deposit of 5.50% APY only if you call in and open the account over the phone. This is their promotional special and there wasn’t too much advertising associated with it. Their direct number is
1(800)283-8875.

ELOAN Bank CD Interest Rates

E-LOAN financial is offering a 3 month 5.00% annual percent yield CD. The minimum deposit requirements on the CD account is $10,000 USD and for savings account is $5,000. Deposits made through E-LOAN will be processed through BPNA (Banco Popular North America), which is the direct parent company that E-LOAN. All membership accounts are FDIC insured up to $100,000 by law.

This is the best cd rates in a series of Certificate of Deposits offered by E-LOAN financial. All the other ones offered by E-Loan required a longer maturity with a minimal increase in APY. For example, with the same minimum deposit, their 5 year CD Rate is only 5.01% APY.

Key Bank CD (Certificate of Deposit) Rates

Looking for the ultimate CD annual percentage yield? KeyDirect is offering a 10 year 5.70% APY Certificate of Deposit. This 10 year CD is the highest CD rates in today’s competitive CD rates market. The minimum deposit on this CD is $5,000, and this is also available as an IRA certificate. This CD is available nationwide with the exception of 13 states, and you can only apply via phone, mail or online. KeyDirect, a member of FDIC, was give the Top Tier Award by Bankrate.com for consistently offering the top 100 highest yield APY accounts.

The reason for this high CD rate is obviously the Certificate of Deposit period. CD rate period longer than 12 month usually have a high CD annual percentage yield, not to mention this CD is 120 months. Certificate of Deposit amounts should be always kept under FDIC limits of $100,000, and for customers that have already opened a deposit account within the last 90 days, it’s always beneficial to review the disclosures provided.

For more information, you can always check out KeyDirect’s Certificate of Deposit homepage.

Imperial Capital Bank CD Rates

Imperial Capital Bank is offering 5.20% APY 3 month Certificate of Deposit with a minimum $2000 deposit. This is the best CD rate out of a list of Certificate of Deposits provided by Imperial Bank. Other CDs include a 5.10% APY 6 month CD, and a 5.00% APY 1 year CD. ICB seems to have decreasing APY as the Certificate of Deposit term increases. All CDs are subjected to monthly compounding interest that remains on deposit at maturity. These APY are accurate as of November 6th, 2007, which is subjected to change over time. Please check back for updates on the most current Imperial Capital Bank CD rates.

To apply online, you will need your socail security number, driver liscense number, email, valid address, and a telephone number for verification. And if you think applying online is a hastle, you can always apply by mail.

Imperial Capital is a FDIC insured bank with ATM/branches located within the state of California, Nevada, and Maryland.

CD (Certificate of Deposit) Rates at Indymac Bank

Indymac Bank is bank is running an 4 month 5.45% APY internet only CD Rates special. This CD requires a minimum deposit of $5,000 USD and if you have more than $250k, you will need to contact Indymac Bank to open high deposit CD accounts. This CD interest is compounded daily and will be paid in at maturity or reinvested into the account keeping the same rates. Like the usual Certificate of Deposits, it of course comes with a penalty for early withdrawal, and it is not available as a retirement account. Since this is an internet only special, it is available to every state in the United States. All you need is your Social Security Number, a Driver’s Liscense, and a second form of identification such as an passport.

For more information regarding this Certificate of Deposit from Indymac Bank, you can visit their homepage for more information.

Mutual Bank 5.00% Certificate of Deposit

Mutual Bank is offering a variety of Certificate of Deposits lately that is compounded and credited monthly. This 12 month 5.00% APY has a minimum deposit of $2,500 and your interest of 5.00% will compound monthly and it’s available as an IRA CD. If case if you aren’t familiar with IRA Certificate of Deposits, they are used mainly by people in retirement wanting to add a fixed rate to their CD and have a better calculated return on investment. An IRA Certificate of Deposit is FDIC insured up to promised limits and it can quality you for many banking benefits such as a variety of premium check accounts.

Mutual Bank is also offering extended CDs for 24 and 36 month period but with reasonably higher APY and a higher minimum deposit. The special promotion for mutual bank’s 24 month CD is 5.20% and 36 month for 5.30% with minimum balance of $5,000. I wouldn’t recommend the 24 and 36 month CDs because for those CD terms, APY rates can get competitive and I’m sure you will there is a better deal if you shop around. The only Certificate of Deposit that is reasonable for the Mutual Bank special promotion CDs is the 12 month 5.00% APY.

However, the only downside to this CD is that you must apply in person or by mail. If you choose to apply by mail, you must fill out a Consumer Application form. Detailed instructions is listed on the Mutual Bank website.

Bank of America 5.10% CD Interest Rate

Online banking trend continues with Bank of American offering a special online only 4 month maturity high yield CD of 5.10% APY. Here are some of the requirments and offerings in this high yield CD:
# $5,000 minimum to open
# Special online only CD rate – a locked 5.10 APY1
# Short 4-month term
# FDIC Insured

Aside from the 5.10% 4 Month CD, Bank of America is also offering a Risk Free CD Account Service of 4.85% with 9 month maturitty. They called it risk free because you can withdraw the fund from your CD before maturity date without a penality. Of course, with that special treatment you are experiencing a much lower rate and maturity period. The minimum to open is $5,000 and the max amount you can invest is $500,000. Remember that both of these dreals by Bank of America is online only and can only be open through the Bank of America website.

Patelco Credit Union 7.00% CD Rates

Patelco Credit Union is giving it’s new members a special certificate of 7.00% APY. This is a limited time special offer only to new members of Patelco. All Funds deposited to this Certificate of Deposit must be from institutions other than Patelco. The minimum deposit on this CD is $1,000 and there is penalty for early withdraws. The only drawback to this highest CD rate is that the maxium deposit is limited to $1,000 also. Remember this account is only limited to one open new membership members. For more information, visit Patelco’s certificate rates table here.

Remember, at 12 month maturity, this certificate will renew at Patelco’s current yield for a regular 12-23 month share Certificate of Deposit rates of 4.91% APY. Personally, this is great for a quick and easy investment; it’s not really suitable for long terms because if you forget to withdraw your money at 12 month maturity, it will enter a low APY 4.91% APY cycle and there is a penalty for early withdraws. All the benefits earned on that 7.00% APY will be diluted by the 4.91% APY over time. It’s Patelco’s way of making back the money they lost on the 7.00% APY and also their way of stirring up attention by throwing the highest CD rate and then capping it at $1,000 maximum deposit.

IndyMac Bank 5.75% 4 Month CD Rate

IndyMac Bank is offering an internet special 5.75% APY CD. There is a small minimum requirement on this CD is $5000 deposit. The term on this Certificate of Deposit is only 4 month but IndyMac Bank provides a feature that will renew your CD automatically keeping the same rate when the term is up. This means it can be completely hassle free, just drop it off in the CD and you can forget about it.

Also remember that this highest Certificate of Deposit interest will compound daily and will be reinvested monthly or at maturity. This however raises many doubt as to whether the interest rate will continue to pass on after the 4 month IndyMac Bank automatic renew. I called IndyMac Bank to confirm and they said because the CD is termed to be only 4 month. The interest rate stops precisely when 4 month is up; if the interest rate would carry on to the automatic renewed months, then this wouldn’t be a 4 month CD. With such a great CD rate, there is of course a penalty for early withdrawal. As far as what the penalty is, I’m not going to go into that because this is a very short termed Certificate of Deposit.

Another thing to keep in mind is that this is an internet special only. The only reason IndyMac Bank can keep provide such a great rate is mainly because they save the money of running a brick and mortar. They can carry their savings onto the CD interest rates they give you. If you have any questions regarding this Certificate of Deposit, please check out the IndyMac Homepage.

Countrywide Bank 5.65% 12-Month CD Rate

Countrywide is offering a 12-month 5.65% APY Certificate of Deposit for any zip codes in the United States. A well established bank founded in 2001, part of the Countrywide Financial Corporation acquisition and a member of the Federal Deposit Insurance Corporation (FDIC). Countrywide today is America’s top homeloan lender, helping millions of families find their dream home ownership. Countrywide also founded a mortgage education school to educate consumers with knowledge they need before making a purchase. By comparing the CD rates today, Countrywide CD rate stands out not only because its 5.65% APY but also it’s from a stable bank. However, the only downside to this great rate is the require minimum deposit of $10,000. But then again would you want to put your hard earned money in a new and unknown bank with a great rate and no deposit requirements?

Personally, I have invested in their CD in mid August of 2005. The experience was easy and the rates were very competitive as I recall. To open an account with Countrywide Bank, simple go on their homepage and select Certificate Deposits under the banking tab. If you have any further questions you can contact their customer support at 1-800-283-8875. Because Countrywide is known to be an mortgage lending bank, thus great Certificate of Deposits are rare because this is not their specialty field. Take advantage of this deal and act quickly.

Millenium Bank 8.75% CD Interest Rate

As the interest rates in Britain shoots up, many banks also raised up their interest rates. The interest rates, especially, on Premier Certificate of Deposit have reached sky high. It can range from 6.50% to 8.75% for as minimum deposit of $5000! This is the Millennium Bank’s Offer! Moreover, Premium Certificate, for 5 year CD, at 8.75% interest on a minimum deposit of $100,000 does not even compare to other bank’s CD offers. City Bank is offering 4.6% only.

The best offers in US such as Kaiser Federal Bank, California, has a nice 6.00% APY on their IRA-CDs for all deposits of $225,000 or more. Even then, it does not compete with Millinnium’s 8.75% interest rates. Isn’t it too good to be true? Since these certificates are non-redeemable before their maturity hence they are not profitable for short term investors. This offer should appeal more to large businesses who can afford their money being tied up in the certificates. But is the bank credible? Should you start filling the forms and get those certificates?

Millennium Bank is a subsidiary of United Trust of Switzerland, SA, a Swiss-registered private trust. Millennium Bank is located in Kingstown which is the capital of St. Vincent and the Grenadines (SVG). Yes, it is an offshore bank. Apart from being an offshore bank it not FDIC insured. But it is listed as a licensed offshore bank at the website of the International Financial Service Authority – St. Vincent and the Grenadines. I am not sure about the bank’s credibility despite that. Regarding their Credit Card services, customers have faced disappointments.

Ginger of Kansas City, KS (8/4/05): I received notice in the mail that I was approved for a credit card from New Millenium Bank and for a $29.00 processing fee I could choose between a Master Card or Visa credit card. I sent the notification and a check for $29.00.New Millenium promptly cashed my check but as of this date I have not received my credit card. It has been 2 months. The fact that the bank has only been operating for three years does have another blow on its security for investors. Moreover, no audit has been conducted of the bank by the [St Vincent] Offshore Finance Association. The response from Louise Mitchell of the St Vincent Offshore Finance Association was:

“The OECD has not done an audit of Millennium Bank. The FATF paid a visit to the Bank, it did not conduct an audit”

So, in my opinion, one should stick with FDIC insured banks. EmigrantDirect is paying 5.1 % on their Certificate of Deposit. So you should not risk your money for an extra 1-2 % more interest. Just as a reminder, there are several banks named Millennium Bank, even some in US which are registered. But the one I am talking about is This one

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