Aspire Federal Credit Union offers a very competitive interest rates for their 15-month special at 2.01% APY. The minimum deposit required is $1,000.

The other CD rates are also attractive:

12 months 1.25% APY
18 months 1.50% APY
24 months 1.75% APY
36 months 2.00% APY

These best cd rates can be enjoyed by opening an account for as little as $500.

When you apply for membership to the credit union online, you just need to select from the drop down menu the organization which you want to join. The credit union requires a minimum balance of $5 to a share savings account.

Aspire FCU is the former FAA Eastern Region FCU. They have offices operating in New Hampshire, Virginia, New Jersey, and New York.

Aspire has good financial ratings Bankrate.com issued 3 stars for performance while BauerFinancial stamped 4 stars for soundness and safety. These were based on their June 2009 data.

The credit union is covered by the NCUA through charter number 5800.

The Great Western Bank is pushing for attractive money in the bank deals through their certificate of deposit specials. The top cd rate belongs to the 18-month CD that earns 2.18% APY. They also offer a 38-month CD with best interest rates of 2.68% APY. A longer term deal is for a 58-month certificate that has current interest rates of 3.08% APY. These certificates of deposits require an initial funding of at least $5,000 of new money.

You may also get a 0.15% bonus if you are an existing or new savings or checking account client.

It looks that a branch visit is necessary to open an account. They have offices in Missouri, Iowa, South Dakota, Nebraska, Kansas, Colorado, and Arizona. The website does not detail the penalties and fees involved so it will be best to ask the bank representative that you’ll talk to.

Great Western Bank has strong ratings. Both Bankrate.com and BauerFinancial issued 4 stars for their excellent performance.

The bank is covered by the FDIC with certificate number 15289.

The USAA Federal Savings Bank invites consumers to take advantage of their highest cd rates earned by their mid-term to long term certificates of deposit. The most attractive money in the bank deal is through their Super Jumbo CD which can requires funds of at least $175,000.

Here is a quick glance of the current interest rates for their CD offerings:

                                   
Term            $1K-$95K       $95K-$175K         $175K+
——-       ——–         ———-       ——-
15 months       1.79% APY         1.85% APY        2.10% APY
18 months       1.90%               1.95%              2.20%
2 years             2.10%               2.15%              2.41%
30 months       2.30%               2.36%              2.61%
3 years             2.50%               2.55%              2.81%
4 years             2.75%               2.81%              3.06%
5 years             3.15%               3.21%              3.46%
7 years             3.75%               3.80%              4.06%

We called USAA and asked for the latest interest rates. We were told that the cd rates are usually updated on Fridays. The CSR informed us that the certificate of deposit rates will lock upon submission of the application. You can send the funds via ACH transfer from your savings or checking account. Upon maturity of the certificate of deposit, you can instruct the bank to send the funds to another account through ACH.

USAA also offers IRA certificates which has the same current interest rates and tier structure as their CDs.

We checked out the link to the depository agreement with regard to certificate of deposit and took note that the earnings of the account can be added to the balance of your CD or be transferred to another account on a monthly basis. Certificates that have a term longer than 12 months, interest can be paid yearly, quarterly, or monthly.

There is a grace period of 10 days upon maturity of your CD. You can close the CD during this time without any penalty.

Early withdrawal penalties apply. It will cost you 180 days of earnings if you decide to take funds out prior to maturity of a 1 year to 5 year cd. Seven-year certificates are charged with one year of its interest.

The membership page does not state it yet but we have confirmed that anyone can enjoy the high yield depository products of USAA even when you don’t have a military connection. Their insurance and loan products though still require that you have military connections.

USAA Federal Savings Bank is based in San Antonio, Texas. It has been indexed with the FDIC since 1983 and is covered by certificate number 32188. The rating for its soundness and safety remain to be very strong. Bankrate.com issued 4 stars while BauerFinancial stamped their report with 5 stars. These financial ratings were based on their March 2009 data.

The
United Financial Bank of Florida offers a very attractive certificate of deposit which has a current interest rate of 2.00% APY. To earn this highest cd rates, the account holder must also maintain a money market account that also has a competitive interest rate of 2.00% APY. This CD requires $500 to open.

This best cd rate is not listed on the bank’s website. We got a tip from a reader and confirmed the offer with a bank representative.

There are other top cd rates which you can enjoy without having to maintain other accounts with the bank. There is a 24 month CD that earns 2.47% APY; 48-month CD at 2.71% APY; and 60 month CD at 2.96% APY. These certificates require a $500 funding to open and have a ceiling of $90,000.

We were told by United Financial Bank of Florida that you can open an account by mail. This money in the bank deal is considered a local deal since it is a fairly small bank located in Lake Mary up north of Orlando.

The website does not detail anything about early withdrawal penalties and other factors which can affect the earnings of your deposit. It will be wise to inquire prior to signing up for anything.

This bank is a subsidiary of Ohio-based United Midwest Savings. The mother company also offers a similar special certificate of deposit deal for the Ohio market.

The financial ratings of the bank are a bit weak so it will be wise to stay under the FDIC limit. BauerFinancial stamped its report with 2 stars for soundness and safety. This was based on their September 2009 data.

The bank is covered by the FDIC with certificate number 32441.

Ally Bank is pushing for their top cd rates which includes a 2-year CD that earns 2.09% APY. The current cd rates being offered for the following terms seem to be competitive as well:

12 months 1.65% APY
18 months 1.74% APY
2 years 2.09% APY
3 years 2.49% APY
4 years 2.74% APY
5 years 3.15% APY

One good news that we got about the certificate of deposit deals is that the bank has lowered their early withdrawal penalties to only 2 months of interest. This is very beneficial to consumers especially those who invest to take advantage of the highest cd rates of long term certificates.

Most banks and credit union still apply the 180 day interest as their penalties and some can cost you as much half of the earnings for a 60 month CD. Basically, when you have a 5 year CD and you decide to close it down prior to maturity, you still a decent earning that is comparable to other offerings in the market today.

Possible Catches

What could be the possible issued with the reduced early withdrawal penalties of Ally Bank on their CDs? First, any early withdrawal can be refused by the bank. We do not see this in the disclosure page of Ally but make sure that you read the fine prints of any bank deals.

Second, it will take you some effort and a good deal of time to close a CD. Our readers reported that they encountered delays when they tried to close their Ally certificates of deposit early. We asked the CSR on how we go about it when closing a CD, he said told us that you need to contact an Ally advocate to help you with the closure. It usually takes 5 business days for the bank to send the funds to your account via ACH. It can take a week or so if you ask for a check to be mailed to you. If you have a liquid account with Ally, you can ask them to transfer the funds to your savings and it will take one banking day.

Another down side of the Ally offers is that you cannot take out a partial amount. This means, that when you withdraw from the CD, you close the CD. It can be a good strategy if you open small certificates instead of injecting all the funds into one big CD account.

Withdrawal of interest from your Ally CD account can only be done in disbursement. You can not request for a one time big time give me my interest thing but instead opt for a yearly, quarterly, or monthly withdrawal of earnings.

Still, the lowering of the early withdrawal penalty is a good move for Ally Bank. It may be really beneficial when interest rates will jump up in the future.

Other good deals with Ally

Ally Bank still offers their No Penalty CD. It has a 9 month term which earns 1.24% APY. You can open an account by calling the bank, over the internet, or by mail. You can see the details of how you should go about it on the FAQ page of the bank’s website.

Account holders of the no penalty CD can takeout the funds after six banking days after opening or any time moving forward without having to worry about penalties. Again, the withdrawal is considered to be done in full amount.

Ally Bank is FDIC insured with certificate number 57803.

Melrose Credit Union continues to offer their highest cd rates for their midterm to long-term certificates of deposit. The current interest rates as of February 8 are the following:

1 year 1.81% APY
2 years 2.07% APY
3 years 2.57% APY
4 years 2.83% APY
5 years 3.39% APY

The top cd rates can be enjoyed if you open an account with an initial deposit of at least $5,000.

The credit union also offers IRA Certificates with the following interest rates:

1 year 2.07% APY
2 years 2.32% APY
3 years 2.83% APY
4 years 3.09% APY
5 years 3.65% APY

You can purchase an IRA certificate for $4,000.

All share certificates may incur early withdrawal penalties. New CDs and renewed certificates compound their dividends on a quarterly basis.

The certificate of deposit rates are in effect as soon as the credit union receives your initial funding. You can apply online but some readers have reported that they were asked still to mail some documents to complete the process.

One good way to expedite the process is sign up for membership and then get the funds of your CD from your share savings account. One friend shared that he was able to open and fund the cd at the same day by going to a local credit union service center.

Melrose Credit Union practically accepts everyone who wants to join because it has an open charter. By the way, one of our readers warned us that the credit union did a hard credit pull when he opened an account.

Melrose Credit Union has excellent ratings from BauerFinancial and bankrate.com. Both issued 5 stars for performance, soundness, and safety based on their June 2009 data.

Pentagon Federal Credit Union is still pushing for their long-term certificate of deposits which offers the following best cd rates:

• 3 years 3.00% APY
• 4 years 3.25% APY
• 5 years 3.50% APY
• 7 years 3.75% APY

These highest cd rates are offered through their money in the bank deal called PenFed Money Market Certificate.

If you are a Penfed CD account holder who enrolled in the CD reservation offered last year, you might get 50 basis points higher atop the current cd rates. Those missed the rollover program offered last November might get 25 basis points higher.

PenFed Certificate of Deposit

We scanned the info page about the certificates being offered by the credit union and we took note of some important things you must not miss:

• There is an early withdrawal penalty of at least 180 days of earnings for CDs with 3 to 5 year terms. It can be all the dividends if you take out the funds before 6 months after account opening.
• The same interest rates apply to IRA
• IRA CD holders who are at over 59 ½ years old can avoid most of the early withdrawal penalties.

There is no grace period upon maturity of the CD. If you decide to close a few days after renewal, you will only lose a couple days of interest which is actually not a worse scenario since most banks don’t pay interest rates during the given grace period.

Membership

People who do not have family or employer affiliation to the military can join the credit union through the National Military Family Association or NMFA. You can signup for both Pentagon FCU and NMFA at the same time online. You need to shell out an annual membership fee of $20 for the NMFA and you do not need to continue this membership to keep your active status with the PenFed. You are also eligible to sign up with PenFed if you are a volunteer or an employee of the American Red Cross.

About the PenFed

Interested individuals who want to take advantage of the cd rates but are not comfortable doing business online can drop by one of their branches. They have offices in Texas, Missouri, North Carolina, Colorado, New York, Virginia, Washington DC, Maryland, and New Jersey. They also have branches in Hawaii and Puerto Rico.

The financial rating of PenFed is not that impressive but still strong. They got a 4 star rating from BauerFinancial when it reviewed the organizations performance. Bankrate.com stamped 3 stars to their soundness and safety report.

Pentagon Federal Credit Union is one of the largest credit unions in the United States with about $13.4 billion in declared assets and about 900,000 members. It is covered by the NCUA through charter 227.

The Astoria Federal Savings is pushing for their top cd rates at 2.50% APY for a 30-month special certificate of deposit which only requires an opening balance of $500.

Another competitive interest rate is being offered for their 9-month CD which gains 1.50% APY. The number may not be that impressive but it is what you call attractive cd rates these days.

We called Astoria through their hotline 1800-278-6742 to inquire about their best cd rates. The customer service representative told us that you can open these certificates over the phone. What they will do is take your information and send you a welcome packet. They can lock the interest rate for 10 days which is just enough time for you to decide and send them the initial funds. You can send a check via post or just wire them the money (which will cost you $15 for incoming transfer fee).

The current interest rates are still posted on their website but they can change any time without notice. They usually update the website and the certificate of deposit rates every Tuesday.

Closing the CD account may be a hassle if you don’t live near one of their branches. You will be required to send instructions together with your passbook, then they will send you the check via postal mail. There is no option for a wire transfer to send the money.

The certificates of deposit are available nationwide. Liquid accounts like the checking and savings account are not offered nationwide. Unlike other banks, you don’t have the option to transfer your funds from the CD to any of your liquid accounts to avoid mailing of the check.

If you decide to open an account, the easiest way is still dropping by one of their branches. They have a good network of offices operating in New York. They have offices in Westchester, Suffolk, Nassau, Queens, and Brooklyn.

The financial ratings of Astoria Federal Savings are mixed. Bankrate.com issued 2 stars for performance while BauerFinancial stamped 4 stars on their soundness and safety report. Both of these figures were based on their September 2009 financial data.

The bank is covered by the FDIC with certificate number 29805.

The Navy Federal Credit Union offers competitive interest rates for their long-term certificate of deposit deals. The highest CD rates are the following:

5 years $1,000 minimum deposit 2.85% APY
5 years $20,000 minimum deposit 3.00% APY

5 years $100K minimum deposit 3.15% APY

7 years $1,000 minimum deposit 3.85% APY
7 years $20,000 minimum deposit 4.00% APY

The seven-year money in the bank deal is only available as Share, IRA, and ESA certificates. The current interest rates are still posted on the credit union’s website as of February 8.

Navy FCU also has an attractive 18-month CD which has the top cd rate of 1.65% APY with an opening requirement of $10,000.

Another good deal is the 30-month CD earning 2.75% APY. This one requires an $18,000 initial deposit.

They also have the special CD offerings called EasyStart Certificate which only requires $50 to open earning 3.25% APY on a one year term. Take note though that this has a small cap of $3,000 and several other requirements to go through. It is also limited to one EasyStart CD per member.

If you have questions about their products and services, you can contact them through 1888-842-6328. You can reach them collect through 1703-255-8837 if you are overseas.

Membership to the Navy FCU is not that very easy. The organization expanded its membership to the members of the Army, Air Force, and the Marine Corps back in 2008 so it will be easier to get in if you have connections from these branches of the service. You can visit their website to learn more about the details on how you can sign up. There is no easy way for people without connection to the service to join the credit union.

The credit union has branches spread across the United States and the world. Navy Federal Credit Union is covered by the NCUA charter number 5536. It is considered as the biggest credit union in the U.S. Its assets amount to about $38.7 billion and a member base of more than 3 million people.

Northwest Federal Credit Union offers consumers their best cd rates for their midterm and long-term certificate of deposits. The most competitive interest rates are offered for their 2-year CD earning 2.12% APY and 5-year CD with 3.25% APY. These require a minimum funding of $2,500 and have a cap of $25,000.

The other money in the bank deals has the following interest rates:

Term           $500 to $2,499     $2,500 to $24,999     $25,000 to $99K
6 months             n/a                   1.21% APY                   1.31% APY
1 year                 1.42% APY          1.47% APY                   1.52% APY
2 years               2.07% APY          2.12% APY                   2.17% APY
3 years               2.43% APY          2.53% APY                   2.58% APY
4 years               2.69% APY          2.79% APY                   2.84% APY
5 years               3.15% APY          3.25% APY                   3.30% APY

These cd interest rates are posted as of February 8 but may change any time. It will be best to visit their website or call the bank for the latest figures.

The credit union is still offering the add-on certificates of deposit. The 1 year add-on CD requires a minimum opening balance requirement of $500 and has a current interest rate of 1.52% APY. The 2-year add-on certificate has a 2.17% APY and also requires $500.

Details about the CD

Upon application for the certificate of deposit, you can fund your account via ACH when you apply online. You can also wire money to your share savings deposit and contact the credit union to open a CD for you. They also have shared branches which can accept your deposits.

The bank imposes early withdrawal penalties amounting to all dividends withdrawn for CD with terms of 6 months or less. CDs with six months or longer maturity dates, the penalty is at least equal to 180 days or less of earnings or all of the dividends of the amount withdrawn. They may also ask you to close the certificate in case you take out an amount and the balance falls below the minimum required of the certificate.

The credit union gives a 10-day grace period upon the maturity of the account. You can call the credit union and instruct them to roll over the funds to the existing cd, deposit the proceeds to a liquid account, or send the earnings to you as check.

Membership

Membership to the Northwest Federal Credit Union is basically via select employee groups. The credit union also accepts members from the American Consumer Council. The ACC does not collect any membership fee when you sign up. When you sign up for Northwest you can opt to join the ACC. The Northwest FCU requires a membership fee of $5. You can also use the website to open accounts like certificates of deposit.

The credit union has offices spread across Virginia. These branches are strategically located in Manassas, Herndon, Vienna, and Chantilly. The shared branches can also help you out with withdrawals, deposits, and other transactions with Northwest FCU.

Northwest Federal Credit Union is covered by the NCUA under the charter number 5500. This credit union is a large organization with assets amounting to about $1.7 billion and close to 100,000 members.

Massachusetts based Country Bank for Savings invites consumers to take advantage of their money in the bank deals through their competitive relationship certificate of deposit and regular CDs.

They offer their top cd rates through the relationship certificates of deposit which has the following current interest rates:

• 6-month relationship CD 1.85% APY
• 15-month relationship CD 2.25% APY
• 24-month relationship CD 2.50% APY

These highest interest rates can be enjoyed if the account holder can maintain a monthly average balance of $1,000 in a CBS checking account. A direct deposit must also be set up to come in every month. The bank does not offer checking accounts outside state so it seems that these relationship CDs are only offered to Massachusetts consumers.

They also offer their best cd rates for their regular certificates of deposits which earns the following interest rates

• 6 months 1.60% APY
• 15 months 2.00% APY
• 2 years 2.25% APY

These cd interest rates are still listed on the bank’s website as of February 8 but they can be changed any time without notice. These certificates require a minimum funding of $500. These are offered nationwide.

Country Bank for Savings has branches spread between the cities of Springfield and Worcester. If you have any questions with regard to their products and services, you can call their toll free hotline at 800-322-8233.

The bank has some excellent financial ratings. BauerFinancial gave it 5 stars for soundness and safety while Bankrate.com tagged it with 4 stars for performance. These were based on their Septmber and June 2009 data, respectively.

Country Bank for Savings has a long history of business being established in 1850. They are indexed with the FDIC under certificate number 23992. They are also accredited by the DIF so any fund which is beyond the FDIC limit will still be covered.

The First City Bank headquartered in the Florida Panhandle offers a very competitive certificate of deposit special with current interest rates of 2.25% APY. According to the promo page, these cd interest rates will expire by February 26.

The best interest rates can be enjoyed with a minimum deposit of $5,000. The ceiling is set at $250,000. The website does not detail the early withdrawal penalties and other fees which may affect the earnings of your deposit.

Individuals interested to take advantage of these highest cd rates can open an account online. Take note though that you cannot select the 15-month special on the application page. We called the bank and we were told that you can select either the 12 or 18-month certificate of deposit then mention that you are applying for the 15-month promo in the comments box.

You can also open the CD by calling the bank’s hotline through 888-244-5151. One of our readers though reported that she was told by the bank that applying over the phone is not an option. Another way to open this certificate of deposit special is by visiting one of their branches.

First City Bank has branches in the cities of Mary Esther, Destin, and Fort Walton Beach in the Florida Panhandle.

The current interest rates may be attractive and competitive but the bank has a poor rating of 1 star from bankrate.com. It will be wise to stay within the limits of the FDIC.

The bank is indexed with the FDIC since 1948 under certificate number 16748.

Alliant Credit Union is still pushing for competitive money in the bank deals through their certificate of deposit programs. The current interest rates are as follows:

12 – 17 months up to $25,000 2.00% APY
36 – 47 months up to $25,000 2.50% APY
48 – 60 months up to $25,000 3.00% APY

The top cd rates will be 10 basis points higher if you put in more than $25,000 into your certificate of deposit account. These highest cd rates are also available as Traditiona, Roth, and SEP IRA. Minimum balance to open an account is $1,000.

Interested consumers can enjoy the best cd rates by opening an account online, visiting a branch, or by opening an account over the phone. You need to be a member of the credit union with at least a $5 balance in your savings account to be eligible to open the CD. IRA accounts cannot be opened online.

The cd rates will be locked when you open the account. You can fund the account via ACH or transfer money through wire from your external account. You can also send a check via FedEx if you want to send your money overnight. You can find the address and routing number of the credit union on their website.

Interest rates are compounded on a monthly basis. Account holders can opt to withdraw the dividends of the CD without getting any penalty. You have to take note though that partial withdrawals are not allowed. The credit union gives you a 10-day grace period upon maturity of the CD.

You can have a joint owner or elect a beneficiary when you open an Alliant certificate of deposit.

Membership

The Alliant Credit Union welcomes members of the national and local PTA. The National PTA collects $25 for a membership fee. Your local PTA may cost less when you sign up.

Some of our readers have reported that the credit union did a hard credit inquiry when they signed up.

About the Credit Union

Alliant Credit Union has received commendations for their excellent customer service. Their CSRs answer the phone quickly and provide very helpful information. They are ready to answer your questions 24×7.

The credit union has offices in Elk Grove Township, Des Plaines, and Chicago, Illinois. They also have branches in Virginia, California, and Colorado.

Based on the June 2009 data of BauerFinancial, Alliant Credit Union is rated 5 stars for excellent performance. Bankrate.com however gives a 3 star rating for its soundness and safety. It is a large organization with about $6.13 billion in assets.

Alliant Credit Union is covered by the NCUA under charter number 67955.

EBSB Direct continues to push for the best cd rates for their 10-month certificate of deposit earning 1.77% APY. The best interest rates for this online CD can be enjoyed by opening an account for at least $1,000. They also have a 36-month CD with a current interest rate of 2.75% APY.

The website of the bank does not contain much information on how you can take advantage of the best cd rates. We called the bank through their hotline 800-657-3272 to inquire.

According to the customer service representative, the CDs are offered nationwide. You can apply online. The cd rates are typically updated every Wednesday so it will be best to check for the latest figures before signing up for anything. You can send your funding through ACH from an external account.

Trial deposits will be made to verify that you really own the account. According to the FAQ of the website, EBSB does not perform a hard credit pull when you open an account.

The interest rates will be locked on the day you submit your application. The certificate of deposit rates are accurate as of February 3 but again these can be changed any time without notice. Interes rates accrue on a daily basis and compounded every month.

Early withdrawal penalties apply. You can ask the CSR for the details of this and how it will affect your deposit. You are given a 10-day grace period upon maturity of the account. If you decide to take out the funds, you can receive the money via ACH transfer.

EBSB Direct is the online division of East Boston Savings Bank. The mother company operates 13 branches and has a significant amount of assets at $1.15 billion and deposits at $931 million.

The bank is performing well with Bankrate.com issuing a 3-star review for its performance. BauerFinancial stamped their report with 4 stars for excellent soundness and safety.

EBSB is a member of the FDIC and DIF.

Dime Savings Bank is pushing for their top cd rates offered through their 9-month CD special with current interest rates at 2.50% APY. This money in the bank deal requires an initial deposit of at least $500 and has a ceiling of $50,000. New money is required to enjoy the best cd rates.

The fine print of the certificate of deposit deal states that the to enjoy the highest cd rates, the consumer must also open a Dime Rewards Checking account or a Prime Dime Rewards Checking Account. You also need to perform certain transactions or add some activities to an existing prime checking or rewards checking account. You can learn more about the requirements if you call the bank through 1-800-321-3463.

The promo page is still up and the you can click on it from their home page.

This certificate of deposit special is similar to the $300 checking account bonus they offered back in 2009. If you can put in about $50K as an investment, you will be earning around $937 in just 9 months. Take note that they do a hard credit inquiry when you open an account.

The checking accounts required for the CD special are not high yield checking accounts but they also do not require use of a debit card. They do require use of the online bills payment system and direct deposit every month. You need to meet the requirements or you might be asked to close the account.

The Prime Dime checking account can earn as much as 0.75% APY for balances $50K or more. This checking account requires $5,000 to avoid any monthly fees.

The Dime rewards checking account is not interest bearing and requires $2,500 balance to avoid a $12 monthly fee.

Dime Savings Bank also offers competitive long term certificates of deposit. The current interest rates for their 5-year CD is 3.25% APY while the 3-year CD earns 2.25% APY. These good investment opportunities are available nationwide. It will be best to call the bank with regard to the details of these CDs. The numbers that we have here are still accurate as of February 7.

Dime Savings Bank has braches across the New York metro. The bank has excellent financial ratings. Both Bankrate.com and BauerFinancial issued 4 stars for soundness and safety. They have been indexed with the FDIC since 1943 with certificate number 16012.

Reliabank Dakota offers their best cd rates for their 45-month certificate of deposit that has current interest rates of 3.00% APY. The initial funding to enjoy the top cd rates is $5,000.

This online certificate is available to consumers nationwide. Interested individuals can take advantage of the highest cd rates by opening an account online using the link on the left side bar of the bank’s website.

The 45-month CD can be funded by mailing in a check or by wiring your deposit. It seems that the best interest rates will be honored when the initial fund is received by the bank.

The certificate of deposit special has an early withdrawal penalty of is 3 months of its earnings. One good feature of Reliabank’s CD offering is that they do not charge any penalty if you need to take out the money early for a funeral, medical expenses, or if you will be using it to spend on a nursing home.

Upon the maturity of the CD, the bank can send you the funds by mailing a check, by wiring the money, or by transferring it into an ultimate checking account.

The bank also lists other competitive certificate of deposit deals like their 29-month cd special which has an interest rate of 2.20% APY.

The interest rates that we have here are current as of writing but it will be best to check out the website of the bank or call their customer service hotline to ask for the latest figures. You can reach Reliabank through 605-873-2261 or 800-525-0399.

One of our readers commented that the bank did a hard credit pull through Equifax when he opened an account. It could be an issue if you don’t want any dings on your credit score.

Reliabank has branches spread across South Dakota specifically in Hartford, Watertown, Hazel, Hayti, and Esteline.

The financial rating of Reliabank is quite impressive. Bankrate.com issued 4 stars for its soundness and safety using their June 2009 data. BauerFinancial stamped its performance with 4 stars using their September data last year.

The bank is covered by the FDIC with certificate number 16221. Reliabnk is a small bank with a declared asset amounting to about $158 million.

Bank of Fayetteville headquartered in Arkansas offers a nationwide money in the bank deal through their 15-month certificate of deposit special with the highest interest rate of 2.10% APY. The top cd rate can be enjoyed by opening an account with a minimum deposit of $500. The current cd rate is still listed on the bank’s website as of January 2.

Interest consumers can open an account online and take advantage of the best cd rates. The tab for opening an account is under the Quick Links tab on the left sidebar. According to the bank, an account representative will contact you to help you complete the process.

Some other attractive interest rates are being offered for their 36-month CD at 2.17% APY and the 24-month certificate at 1.99& APY. You may contact the bank through 479-444-4444 if you want to know the highest cd rates they can offer for Jumbo CDs.

Bank of Fayetteville has offices spread across Fayetteville, Prairie Grove, West Fork, and Farmington in Arkansas.

The financial rating for soundness and safety of the bank is a bit weak. Bankrate.com stamped a 2 star rating for its below peer performance based on their June 2009 data. BauerFinancial evaluated the bank using their September 2009 data and issued 3 stars.

It is always wise to stay within the limits of the FDIC if the reviews about the bank are not that great. Bank of Fayetteville is covered by the FDIC with certificate number 26975.

Hudson City Savings Bank is still pushing for their top cd rates being offered for their long-term certificate of deposits. The current cd rates dropped by a few bases points but remain to be very competitive in the current market. Here are the latest interest rates from the bank’s website:

3.40% APY 60 months
3.15% APY 48 months
2.80% APY 36 months
2.30% APY 24 months

The certificate of deposits rates for the 3-year and 2-year CD are on the front page of the website. You need to click on the application and go to the interest rates link to see the complete list of the yields. You can enjoy these cd rates when you open an account with an initial funding of $5,000.

The top interest rates for these CDs will be locked when you submit your application online. Take note that the cd rates are often updated or changed on Fridays. You may inquire for the latest figures through their customer service line 1866-881-4272.

Interest Rates and Penalties

There are some issues that some of our readers tipped us. The earnings of the CDs are credited to the account at the end of every month so you need to plan carefully when you will close an account since if you close too early you might not just end up losing 6 months of interest (If you have a CD that matures after over a year) plus the accrued earnings of the month. It might be wise to close the account at the beginning of the month.

Early withdrawal is another issue. When you take out money from your account, you need the consent of the bank and they have the right to refuse such transactions. Certificates with maturities of a year or shorter will cost you 3 months of interest while longer term CDs will charge 6 months of earnings. The bank may also impose stiffer early withdrawal penalties.

About the Bank

Hudson City Savings Bank is a big financial institution with about $58 billion in assets. They have about 121 branches spread across New York, New Jersey, and Connecticut.

The ratings of the bank remain to be strong with 5 stars coming from BauerFinancial for soundness and safety. Bankrate.com issued 4 stars for performance. These figures were based on the September and June 2009 data, respectively. The bank is covered by the FDIC under certificate number 13074.

Rollstone Bank & Trust invites consumers in Massachusetts to take advantage of their top cd rates for their certificate of deposit specials. The most attractive cd interest rate is at 3.50% APY for the 48-month CD which requires a minimum initial deposit of $1,000. There is also a short term certificate special with a current cd rate of 1.92% APY for a 9-month term that asks for an initial funding of at least $100.

The interest rates are dated December 30, 2009 but they maybe updated any time without notice. The small print on the interest rates page states that deposits below the minimum required do not earn any thing. You may also inquire with regard to the early withdrawal fees which are imposed.

Rollstone also offers high interest rates for the fixed rate certificates of deposits. The term of the CDs range from 12 to 60 months. These CDs require a minimum funding of $100 to open. They earn 1.51% APY on all tiers. These are also available as variable rate retirement certificates on a 7- or 9-month term with 1.47% APY on all tiers

Some of our contacts reported that they were told by the bank that you need to be within a 50-mile range from a branch to apply. Rollstone Bank & Trust have offices in Townsend, Harvard, Leominster, and Fitchburg in Massachusetts.

If you have any inquiries on how you can maximize your investments with Rollstone you can contact them through 1800-640-1166.

Rollstone Bank was founded in 1846 and has been indexed with the FDIC since 1957 with certificate number 17797. It has very good financial ratings coming from Bankrate.com at 4 stars for soundness, and 5 stars from BauerFinancial for its superior performance. These evaluations were based no their June and September 2009 data.

Signature Bank is still pushing for their certificate of deposit deals that remain to have very competitive interest rates despite the recent cuts. The best interest rate belongs to their 18-month CD which gains 2.07% APY.

They have the following top cd rates:

2.79% APY 36 months
1.98% APY 24 months
2.07% APY 18 months
1.76% APY 12 months
1.51% APY 6 months

These interest rates are not posted on the bank’s website but we have called their customer service line to confirm the figures. You can contact them through 1888-sigline. They also have a special line for the hearing and speech impaired through 212-730-7038.

Interested consumers in New York can take advantage of the current interest rates by depositing an initial CD fund of $5,000. These are regular certificate of deposit offerings so the bank does not ask for extra requirements such as a checking account.

A visit to one of their branches may be necessary to open an account since they do not have an online application platform yet. They have branches spread across Manhattan, Brooklyn, Bronx, Queens, Staten Island, Westchester, and Long Island.

Details about early withdrawal penalties, channels for funding, and other factors which may affect your earnings are not explained on their website. Please make sure that you ask aout these things when you talk to the bank personnel.

BauerFinancial issued 5 stars when they reviewed the performance of the bank using their September 2009 data. Bankrate.com stamped 4 stars to their financial rating report using their June 2009 figures.

The bank is indexed with the FDIC since 2001 under certificate number 57053.

BankFirst Financial Services headquartered in Mississippi offers competitive interest rates for two of their certificate of deposit deals. The 18-month CD has a current interest rate of 2.00% APY which only requires $1,000 for an initial deposit. There is also a 9-month CD earning 1.50% APY which requires a higher initial funding of $2,500.

According to the bank’s website these top cd rates are accurate until January 5 but can be changed any time.

Interested consumers can take advantage of the best cd rates by opening an account through the branches of BankFirst. They have offices in West Point, Starkville, Shuqualak, Macon, and Columbus in Mississippi. They also have branches in Ridgeland, Madison, and Flowood which are suburbs of Jackson. There is also now an online application on their website.

The website does not detail the penalties involved for early withdrawals. You may contact the bank to inquire about the fees which may affect the earnings of your savings.

BankFirst has a long history dating bank to the 19th century. It has an average rating for soundness and safety. Bankrate.com issued 3 stars while BauerFinancial stamped 4 stars on their performance report.

The bank is covered by the FDIC with certificate number 8870.

Terrabank offers a local money in the bank deal for Miami through their very competitive cd interest rates:

These interest rates have an effective date of December 16, 2009 so it will be best to inquire for the latest top cd rates before you sign up for anything.

The minimum deposit needed to enjoy these highest cd rates is $2,500. The disclosure also states that you may make add-on deposits but according to the bank the rate of the add-on funds will not be the same as the original interest rate.

One positive side about this certificate of deposit deal is the mild penalties for early withdrawal. CDs with a term of a year or more only charges 90 days of earnings in case you decide to take funds out early.

You can visit one of Terrabank’s branches to open an account. They have offices in Hialeah and Miami, Florida.

BauerFinancial issued 3 stars for soundness and safety using their September 2009 figures. Bankrate.com sees the bank’s performance a little below its peer group and stamped their report with 2 stars.

The bank is covered by the FDIC with certificate number 26442.

Main Street Bank has a very attractive money in the bank deal through their certificates of deposit. The highest cd rate is being offered for their 2-year certificate of deposit now at 2.20% APY.

The best cd rates drop by a few basis points compared to the December rates but it remains very competitive. This certificate of deposit requires a minimum initial funding of $ 10,000. The current interest rate is listed on the bank’s website as of January 2.

The current cd rate for their 3-year CD is 2.50 APY and 12-month CD at 1.70% APY with a required initial deposit of $10,000.

We have confirmed that the top cd rates are being offered nationwide. Interested consumers can open the certificate of deposit by printing out an application from the website and sending it by mail or fax. Funding of the CD can be done by sending in a check or via ACH.

According to the customer service representative, the best cd rates will not be locked for you until the bank receives the application form. You can instruct the bank to give you a call in case the interest rates drop.

The earnings of the certificate of deposit can be paid via ACH. The bank imposes a six months of earnings as early withdrawal penalty for CDs with terms longer than 12 months. They give you 10 days of grace period to decide if you will roll the funds or take out the earnings.

The Main Street Bank has a four branches spread around Houston. It has a declared asset of around $427 million and deposits pegged at $360 million as of September last year.

The financial ratings of the bank are impressive. Bankrate.com gave 4 stars for performance while BauerFinancial issued 4 stars for soundness and safety. These evaluations were based on their June 2009 data.

The bank is covered by the FDIC with certificate number 24979. They have been indexed with the FDIC since 1984.

Commercial Bank offers their best CD rates for their two money in the bank CD deals. The 15-month certificate of deposit has a current interest rate of 2.25% APY while the 9-month CD special gains 1.90% APY.

The other top cd rates are also looking good for the long term certificates of deposit:

30 months 2.25% APY with a rate change option
36 months 1.65% APY
60 months 2.35% APY
72 months 3.22% APY with a rate change option

The highest cd rates can be enjoyed by opening the account with an initial deposit of $500 for the CDs with maturities of 1 year and over. Certificates with less than 12 months of term need initial funding of at least $2500.

The bank also has very competitive interest rates for their IRAs offered as either Fixed or Variable:

18 months 1.10% APY
36 months 1.65% APY
60 months 2.35% APY

The current interest rates were posted and effective as of December 23 but may be changed any time. Please note that the earnings of your savings can be affected by fees and penalties.

Interested consumers need to visit a branch to open an account. Commercial Bank has offices in Kentucky and Tennessee. They have branches specifically in Barbourville, Cumberland, Pineville, Lutrell, Kingsport, Knoxville, and Harrogate.

Commercial Bank receives fair ratings for its performance. Bankrate.com issued 3 stars while BauerFinancial stamped 3 ½ stars for their soundness and safety. These ratings were based on their June 2009 data. The bank is covered by the FDIC under certificate number 22354.

The CEF Credit Union offers their top cd rates for their members in Illinois and California. The highest cd rates are being offered for their two long-term money in the bank deals with the 5-year CD earning 3.50% APY and 4-year CD yielding 3.25% APY. These CDs can be opened with an initial funding of $1,000.

An additional 0.10% certificate of deposit rates can be enjoyed if you open a jumbo certificate for at least $100,000.

These interest rates are still posted on the credit union’s website as of December 30. These best cd rates may be changed any time. The current cd rates are also posted on the website of Valley Credit Union which was merged with CEFCU via the mediation of the NCUA last 2008. The Valley CU is now operating as a division of CEF Credit Union.

Interested individuals who want to take advantage of these CD deals can sign up for membership. Anyone who works or lives in the counties of Illinois are eligible. Valley CU welcomes people from Alameda, Contra Costa, and Santa Clara counties in California. You can refer to their membership pages so you can learn more if you qualify to join.

They also offer short term to mid term certificate of deposits with competitive interest rates:

6 months 1.25% APY
1 year 1.50% APY
18 months 1.76% APY
2 years 2.05% APY
3 years 2.76% APY
The credit union requires a membership fee of $1 and savings account balance of at least $5. Please inquire about the imposed early withdrawals penalties before signing up for anything. You can call them through their toll free customer service line 1800-542-3328.

The financial ratings of the CEF Credit Union are above average. BauerFinancial stamps their performance report with 4 stars while Bankrate.com gave 3 stars for soundness and safety. These ratings are based on their June 2009 figures.

The credit union is covered by the NCUA through charter number 68488. The CEFCU is a big organization with about $4 billion in assets.

Premier Bank headquartered in Chicago is offering their top CD rates for their certificate of deposit and IRA specials. The current interest rates are as follows:

12 months 1.65% APY
18 months 1.75% APY
24 months 1.95% APY
You can enjoy the best interest rates when you open an account with an initial funding of $5,000. If you will check the rate page of the bank on their website, you can click the piggy image on the right side of the front page.

Account holders must maintain the required daily balance to earn the top cd interest rates. The website does not detail the fees which may affect your earning so it will be wise to ask the bank prior to signing up.

Earnings of the account or compounded on a monthly basis. The interest rates that we have here may be changed any time. You can contact the bank for the latest figures through 847-920-1400 (Wilmette) or 312-432-1400(Chicago). There is also an online inquiry form on the bank’s website.

If you will look at the history of Premier Bank’s interest rates, a year ago they were offering a CD special with the highest interest rates of 4.40% APY. Notice how the interest rates dropped in 2008. The website does not indicate up to when the current money in the bank deal will end, hopefully not soon.

Interested consumers can acquire these certificates of deposit by visiting a branch. Premier bank has offices in Wilmette and Chicago, Illinois.

The bank gets some fair financial ratings. Bankrate.com and BauerFinancial both issued 3 stars for safety, soundness, and performance based on their June 2009 data.

Premier Bank is a member of the FDIC with certificate number 35419.

The Parke Bank Heritage Bank of Florida offers their certificate of deposit with best interest rates in the states of New Jersey and Pennsylvania. The money in the bank offering is their 15-month CD special which has a current interest rate of 2.00% APY.

The highest cd rates can be enjoyed if you open an account with a minimum funding of $500. These CDs are also available as an IRA. The other competitive interest rates are offered in the following money in the bank deals:

18-month CD 1.75% APY
24-month CD 2.00% APY
36-month CD 2.50% APY
Interested consumers can take advantage of these top cd rates by dropping by a branch and signing up for an account. Parke Bank has branches in Northfield and Sewell in New Jersey; and in Philadelphia, Pennsylvania.

Both the regular certificates and IRAs impose an early withdrawal penalty. This is not detailed on the bank’s website so it will be best to inquire about these factors which may affect your earnings before opening an account. You can call their hotline 1866-727-5325.

Parke Bank has strong financial ratings as issued by Bankrate.com and BauerFinancial. Both issued 4 stars for the bank’s safety and soundness. These are based on their June 2009 data. They are a member of the FDIC with certificate number 3488.

Heritage Bank of Florida is still pushing for their certificates of deposit with the following best interest rates:

9 months 1.77% APY
18 months 2.22% APY
2 years 2.53% APY
These top cd rates can be enjoyed with an initial funding of $500 for the 9-month CD and $1000 initial deposit for the CDs with longer terms. The interest rates are still on the bank’s website as of December 28 but they may be changed any time without notice.

The earnings of the certificates of deposit are credited on a daily basis and credited into your account on the last day of its statement cycle. You can also use your Heritage Bank of Florida CDs as collateral in case you want get a lower interest rate for a loan you are applying for with them.

The bank does not allow any additional deposits to be added to your savings until it is mature. They also give a 10-day grace period so you can decide if you want to takeout the funds or renew the CD.

The website does not detail the withdrawal penalties which may affect the earnings of your deposit. It will be wise to inquire with the bank before signing up for anything. You can reach their 24-hour customer service line through 813-909-0944.

A branch visit is necessary to open this money in the bank deal. Heritage Bank of Florida has branches in Tampa, Wesley Chapel, and Lutz.

The bank gets good ratings. Bankrate.com issued 3 stars for the bank’s performance while BauerFinancial stamped 4 stars on their soundness and safety report. These figures were based on their June 2009 data. The bank is covered by the FDIC with certificate number 35009.

SchoolsFirst FCU headquartered in California is celebrating their 75th Anniversary and invites members to take advantage of their CD best interest rates. The money in the bank deal is a 3-year certificate of deposit with current interest rates of 3.00% APY.

The top cd rates can be enjoyed by opening the CD account with a minimum funding of $500. The deposit is capped at $75,000. The best cd rates can also be enjoyed by acquiring it as an IRA.

The credit union also offers their highest cd rates through two Add-On CDs. You can add on to your CD deposit but it is limited to the amount of your initial funding. One good thing about this is that you can do multiple add-ons. One of these certificates of deposit is a 17-month CD that yields 2.00% APY. Another is a 7-month certificate that earns 1.50% APY.

Membership to the SchoolsFirst FCU is primarily based on employment. You can be qualified if you are working for accredited schools in Southern California. You can checkout the details of membership on their website.

The credit union collects a $15 membership fee which can be paid online. You will also be required to have a $5 share savings deposit to be a member.

The credit union has offices spread across Southern California particularly in Santa Ana, San Bernardino, Cypress, Fullerton, Cerritos, Irvine, and Anaheim.

SchoolsFirst Federal Credit Union has very good reviews with regard to its soundness. BauerFinancial stamps its report with 4 stars while Bankrate.com gave 3 stars for soundness and safety. These ratings are based on their June 2009 data.

The credit union is covered by the NCUA through charter #24212.

Consumers in North Carolina has another best CD rate offering through the 12-month special CD of Bank of Granite earning 2.25%APY. The bank also offers its top cd rates for its 6-month special CD yielding 1.75% APY. These require an initial funding of at least $5,000.

It seems that you need to visit a branch to open this money in the bank deal. Bank of Granite has branches in Charlotte, Wilkesboro, Granite Falls, Hickory, and Winston Salem in North Carolina.

The current interest rates are still posted on the front page of the bank’s website but they can be changed any time.

Bank of Granite also offers Solid CDs and RateBuster CDs which require a minimum opening balance of $2500 which are basically fixed and variable rate certificates of deposit, respectively. You need to call the bank to find out about the interest rates. You can reach them through 828-496-2000. You may also want to inquire about other factors like early withdrawal fees which may affect the earnings of your savings.

The high interest rates might be a good marketing tactic to attract more depositors. It may be worth the try but stay within the limits of the coverage of the FDIC. The financial ratings of the bank are a bit weak. BauerFinancial sees the bank as problematic and stamped 2 stars. Bankrate.com issued 1 star for its performance. These were based on their September and June 2009 data.

The bank is covered by the FDIC since 1934. It is indexed under certificate number 5950.