iGobanking.com still offers very competitive cd interest rates despite the recent down trend. Their highest cd rates are being offered for their long term certificates of deposit: 2.50% APY (36-month term), 3.00% APY (48 months), and 3.50% APY (60 months). The initial required deposit is $1000. These current cd rates are also available if you acquire them as IRA.

The cd rates that we have here are posted on the bank’s website as of September 12. Like other certificate of deposit rates, these may change any time without notice. It will be wise to check for the latest figures before signing up for anything.

One reminder that we can give about having a CD money in the bank deal with iGobanking is not to let your certificates renew automatically. Like most other banks they will default to a lower tier and you don’t want to be stuck with low interest rates.

Interested consumers can apply online and fund the accounts using an ACH facility. Closing an account is a different story though. You cannot take out your funds via ACH to save into an outside account. What you need to do is call the bank and ask them to send you a check using a secured mail. Another option is to transfer the proceeds to your iGobanking.com checking or savings account.

The online bank gives 7 days of grace period upon maturity of the account. Their certificate of deposit which has a maturity of at least a year or more collects an early withdrawal penalty of 6-monts of earnings from what you take out of the account.

iGobanking.com operates under the umbrella of the Flushing Savings Bank. The latter is insured with the FDIC. Both BauerFinancial and Bankrate.com gave 4 stars when they evaluated the bank’s soundness using their data last year.