Highest CD Rates

The Golden 1 Credit Union has started a new certificate special that has replaced its 6% special. This new one has a yield of 5.50% APY for a term of 55 months. The minimum deposit is $1,000. It’s also available as an IRA certificate with a minimum deposit of $500. The 5.50% APY requires members to have a checking account with direct deposit. Otherwise, the yield is 5.20% APY.

Membership is open to those who live or work in one of many counties in California. Employees of many companies can also qualify. Membership requires a minimum balance of $1 in the regular savings account.

Branches are located throughout the state of California including the cities of Sacramento, Bakersfield, Los Angeles, Modesto, Napa, Oakland, San Francisco, Lincoln, Folsom, Fresno and Jackson.

The Golden 1 Credit Union is federally insured by the NCUA. It’s one of the largest credit unions in the US with $7.0 billion in assets and 685,722 members.

Corus Bank made a large increase to its 12-month CD rate today. The 12-month CD yield was increased from 4.36% to 4.75% APY. There was a smaller increase in the 6-month CD yield, but the increase makes the CD the best nationwide 6-month CD from a bank. The new 6-month yield is 4.25% APY (up from 4.05%). The 3-month CD yield remained at 3.56% APY, and the money market account yield also remained the same at 4.00% APY. The minimum deposit is $10,000. More details are available at Corus’ rate table.

Corus has branches in Chicago, but accounts can be opened with an online application from any state. Initial funding must be done by check or wire transfer.

Washington Mutual has increased the rate on its long-term Traditional CDs to 5.00% APY. The terms range from 48 to 120 months. The minimum deposit is $1,000. The rate may vary by state. You have to enter your zip code to see the rate table.

WaMu also has some competitive short term rates on its Online CDs which include a 4% APY 12-month CD.

Wachovia Bank is featuring a 4.75% C.D. with a 5 year maturity. The CD features:

• Minimum balance of $5,000
• FDIC insured
• Wachovia Security PlusSM
• Automatic renewal option
• Regular CD interest payments—monthly or quarterly

Aside from this 5 year promo CD, their other CD rates are quite low, ranging from 1.00% to 1.80%. These should definitely be avoided.

Flagstar Bank is advertising a 6-Month CD with a yield of 10% apy (annual percentage yield). The minimum opening balance required for this CD is $500 and there is a maximum balance limit of $2,500. Accounts must be opened with funds not already on deposit at Flagstar Bank.

To qualify for the CD, customers must open a new checking account. The offer requires customers to have at least 15 transactions, such as bill payments through online banking and other debits and credits except interest deposits, or at least $250 in direct deposit of income per month.

A $100 penalty will be imposted against the CD balance if checking account is closed before initial 6-Month Cd term expires. A penalty will be imposed for early withdrawal on the CD.

Pentagon Federal Credit Union has recently updated their share certificate rates. They are now offering a yield of 4.49% APY on their 7 year share certificates and 4.25% APY on their 5 year share certificates. They are also offering 3.75% APY on their 3 and 4 year share certificates. These yields are good for both regular and IRA accounts. The minimum deposit requirement for these certificates is $1,000.

Field of membership in Pentagon Federal Credit Union is offered to members of a large number of select organizations. If you don’t qualify for membership through any of these organizations, you can become eligible for membership in Pentagon Federal Credit Union by virtue of membership in the National Military Family Association for $20.

Washington Mutual currently has one of the highest CD rates for large online banks, with a 4.0% APY rate on their 6 month CD. This is a better rate than both Wells Fargo and Bank of America are currently offering. On top of this CD, they also have other certificates with rates ranging from 3.51% to 3.75% with 1 year to 5 year terms. Minimum deposit to open a CD with WaMu is $1,000.

To obtain the APY for the effective date on the day you apply, the Online CD account must be funded within seven (7) calendar days. If received on or after the eighth calendar day, the then effective date APY will be applied. Certificate of Deposit accounts earn a fixed interest rate and APY for the selected term. Fees may reduce earnings. Penalty for early withdrawals apply.

Omni National Bank is listing CD yields of 5.00% APY for terms of 3, 4 and 5 years. The minimum deposit is $5,000. These are also available in an IRA. Under the rate table, it states that rates are valid for new deposit customers in NC, GA, FL, AL and IL only.

The bank is also offering a yield of 5.10% APY in its Platinum Money Market Account for balances over $25,000. A checking account is required.

It appears a branch visit may be required to open an account. Please check with the bank for the full details. Branches are located in several cities in Georgia, North Carolina, Alabama, Florida, Illinois and Texas. Bankrate.com’s review gives this bank a 2/5 star rating.

Wells Fargo Bank has a special certificate of deposit with a 5 month term and 4.40% APY. This CD is only available online, and has a $5,000 minimum balance.

This isn’t the best CD rate available, but with rates falling across the board it’s still somewhat competitive. It’s certainly better than any of the CDs available at physical branches of Wells Fargo, Bank of America, and WaMu.

Bank of America currently has a special online CD promotion with a 4.75% APY rate and 4 month term. This certificate of deposit has a $5,000 minimum deposit, and is a limited time offer.

BofA also offers a risk free CD with a 9 month term and which allows you to withdraw funds prior to maturity without penalty. The minimum balance on this CD is also $5,000.

Bank of America is a well established brick and mortar bank, and if you already do most of your banking them it may be more convenient to stick with BofA.