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Certificate of Deposit Rates
By JD Bluefield | April 7, 2008
One reader asked where to find the best interest rates for CD’s so I did a quick review of some of the top CD rates available. There are many other companies with higher rates, but I left out non-mainstream banks and those with very high minimum deposits. I also left Countrywide out due to their recent problems with home lending. The deposits may be FDIC insured, but if a company goes under, that headache just isn’t worth the risk. GMAC and Discover have still held rates high, ING Direct has brought up their short-term CD’s slightly and Emigrant Direct’s rates still remain low.
- Current 6mo average: 2.71% APY
- Current 12mo average: 2.92% APY
- GMAC:
- 3.50% APY - 3mo,
- 3.60% APY - 6, 9 and 18mo,
- 3.90% APY - 12mo,
- 3.75% APY - 24mo,
- 4.00% APY - 36 or 48mo,
- Discover:
- 2.89% APY - 3mo,
- 2.94% APY - 6mo,
- 2.99% APY - 9mo,
- 3.30% APY - 12 and 18mo,
- 3.35% APY - 24 or 30mo,
- ING Direct:
- 2.75% APY - 6mo,
- 3.25% APY - 9 mo,
- 2.50% APY - 1to4 yr terms
- Emigrant Direct:
- 2.50% APY for all 6mo to 10yrs terms
Topics: Savings |
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