Raymond Federal Savings Bank invites consumers to take advantage of their best cd rates. The highest cd rates are offered for the 5-year CD earning 3.56% APY. Current CD rates that are also very attractive are the following:

• 1 year 1.56% APY
• 3 years 2.63% APY

These top cd rates can be enjoyed by opening an account with an initial deposit of at least $50,000. The current interest rates for a lower tier that requires at least $15,000 of funding is only 5 basis points lower and we can consider these certificates very attractive. Earnings are compounded on a daily basis unless they are specified otherwise.

The current certificate of deposit rates are listed on the bank’s website as of April 25 but take note that these may change any time without notice. You may want to check for the latest figures prior to signing up for anything.

Raymond Federal Bank imposes an early withdrawal penalty equal to 3 months of interest. This can actually be considered not so bad when compared to penalties of long-term certificates of deposit with other banks.

This offer is only good for residents of Washington State. The bank has offices in South Bend, Long Beach, and Raymond. You can call the bank through 360-942-3444 to inquire if you are within their market area. You may also want to ask for other factors which may affect the earnings of your deposit.

The bank has some average ratings. Based on their September 2009 data, Bankrate.com gave a grade of 3 stars for the bank’s performance. BauerFinancial issued 5 stars for its performance basing their evaluation on their December 2009 collected information.

Raymond Federal Bank is covered by the FDIC with certificate number 28266. They have been listed with the FDIC since 1934.