Acacia Federal Savings Bank with Top CD Rates at 4.05% APY for 60-month Term
Acacia Federal Savings Bank has very competitive best cd rates with their 60-month special gaining 4.05% APY. Their 48-month term is another good offer with 3.65% APY. The minimum deposit required to get the certificate of deposits is $500. They are also available as an IRA.
The rates table suggests that consumers can design their own cd program between 6 and 60 months. Interested individuals may call their customer care hotline to inquire. It will also be safe to call to confirm the ongoing rates since they may change any time.
The certificates of deposits are offered nationally. An application can be filled up online and funding can be sent through wire or by check.
Upon maturity a consumer may opt to close the account and give the instructions to the bank over the phone. The bank can send you the proceeds as check for free or a wire transfer can be done for a minimal fee of $12.
The penalties of their long term certificates are a bit higher than the market average. CD’s with terms longer than 3 years, the bank imposes a penalty of 18 months of interest for the amount withdrawn. Six months of interest is collected for 12 to 24 month terms.
The Acacia Federal Bank is headquartered in Virginia. They have declared assets of $1.56 billion and another $1.02 billion in deposits.
BauerFinancial and banrate.com issued 3.5 and 3 star ratings, respectively, when they reviewed the financial standing of the bank using their September 2008 data.
Since 1985, the bank has been insured with the FDIC with certificate # 32266.
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Check out the best rates on short term deposits at big banks versus those at select community banks from CheckingFinder.com. Community banks continue to offer higher yields on short term deposits to serve as economic engines.
COMMUNITY BANKS
Florida Central Credit Union 6.01 FL
First Robinson Savings Bank 6.01 IL
Union State Bank/Bank of Atchison 6.01 KS
Communications Federal Credit Union 5.25 OK
Connexus Credit Union 5.15 WI
Keystone Bank 5.15 AL
First New England Federal Credit Union 5.15 CT
Three Rivers FCU 5.01 IN
Legence Bank 5.01 IL
Community Bank of Pleasant Hill 5.01 MO
Community Bank of Raymore 5.01 MO
United Heritage Credit Union 5.01 TX
MEGA BANKS
• ING decreased their highest rate offered by 25 basis points, from a 2.50% APY on a 1 year CD to a 2.25% APY on a 4 year CD.
• Schwab decreased their 18 month CD rate by 15 basis points, from a 2.65% to 2.50% APY.
• E*Trade decreased their 5 year CD rate by 30 basis points, from a 1.70% to 1.40% APY.
• E-Loan increased their 6 year CD rate by 50 basis points, from a 3.50% to 3.70% APY
• Washington Mutual decreased their 5 year CD rate by 50 basis points, from a 3.00% to 2.50% APY.
• AARP Financial Savings Center decreased their savings rate by 50 basis points, from a 2.00% to 1.50% APY.
• Wachovia increased their 17 month CD rate by 15 basis points, from a 1.85% to 2.00% APY.
• E-Loan currently has the highest rate at 3.70% APY on a 6 year CD.
• E*Trade currently has the highest savings rate at 3.01% APY.
Courtesy of BancVue.
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