If you are looking for a CD, there are numerous factors to consider. Here are a few of the best certificates of deposit around, with an eye toward yield and other good benefits.
First off is Ally Bank
Voted greatest online bank by Cash Magazine in Oct. 2012, Ally has a one-year CD with an annual percentage yield (APY) of 0.94 percent, compounded at the optimal daily rate. No minimum is needed to open the account, and automatic renewal can be set for when the CD reaches maturity. A CD with 5-year maturity nets 1.59 percent APY, compounded daily.
Go to Nationwide Bank for a choice
There are better rates at Nationwide than a lot of other places, specifically if you get a large CD of $100,000 or more. Any deposits up to $9,999.00 on a 5-year CD will get a 1.80 APY. The 12-month CDs have no minimum deposit and get 1 percent APY too.
Look into OneWest Bank
OneWest gets top ratings for both its CD rates and consumer service. With a $1,000 minimum opening deposit on a 1-year CD at 1 percent APY, OneWest is a popular choice. Its 5-year CD attributes a 1.60 percent APY, and both CDs are compounded every day.
Next could be Bank of Internet USA
While not quite as popular as the other banks on this list, Bank of Internet USA has highly competitive rates due to low overhead. Its 1-year certificate of deposit has 0.80 percent APY with a $1,000 minimum opening. If you can wait for five years before your CD matures, then the APY will turn into 1.60 APY. In both cases, interest is compounded daily for maximum return.
EverBank a good option
EverBank's daily compounded certificates of deposit carry no maintenance charges, but the opening minimum deposit is a bit higher than some at $1,500. The 1-year CD benefits 0.81 APY, while the 60-month (5-year) CD has 1.65 APY. Not only are EverBank's rates competitive, but its rankings among its peers for customer service are among the very best in the business.
First off is Ally Bank
Voted greatest online bank by Cash Magazine in Oct. 2012, Ally has a one-year CD with an annual percentage yield (APY) of 0.94 percent, compounded at the optimal daily rate. No minimum is needed to open the account, and automatic renewal can be set for when the CD reaches maturity. A CD with 5-year maturity nets 1.59 percent APY, compounded daily.
Go to Nationwide Bank for a choice
There are better rates at Nationwide than a lot of other places, specifically if you get a large CD of $100,000 or more. Any deposits up to $9,999.00 on a 5-year CD will get a 1.80 APY. The 12-month CDs have no minimum deposit and get 1 percent APY too.
Look into OneWest Bank
OneWest gets top ratings for both its CD rates and consumer service. With a $1,000 minimum opening deposit on a 1-year CD at 1 percent APY, OneWest is a popular choice. Its 5-year CD attributes a 1.60 percent APY, and both CDs are compounded every day.
Next could be Bank of Internet USA
While not quite as popular as the other banks on this list, Bank of Internet USA has highly competitive rates due to low overhead. Its 1-year certificate of deposit has 0.80 percent APY with a $1,000 minimum opening. If you can wait for five years before your CD matures, then the APY will turn into 1.60 APY. In both cases, interest is compounded daily for maximum return.
EverBank a good option
EverBank's daily compounded certificates of deposit carry no maintenance charges, but the opening minimum deposit is a bit higher than some at $1,500. The 1-year CD benefits 0.81 APY, while the 60-month (5-year) CD has 1.65 APY. Not only are EverBank's rates competitive, but its rankings among its peers for customer service are among the very best in the business.
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