Competitive 60-month CD Rates at Plus4 Credit Union in Houston: 3.00% regular and 3.20% mini-jumbo APY
They might not be the highest CD rates in the market today, but they remain competitive among peers: Plus4 Credit Union in Houston offers 3.00% APY for their 60-month regular CD, and 3.20% APY for the mini-jumbo counterpart.
Although relatively intimidating for depositors because of its long maturation period (a total of 5 years), the 3.00% yielding 60-month CD still remains one of the top CD rates quoted this year. On the other hand, its mini-jumbo counterpart with 3.20% APY might turn depositors off with its high minimum deposit requirement.
The regular 60-month CD only asks for $1000 as a minimum deposit. Its mini-jumbo counterpart, on the other hand, requires at least $50000.
For a $50000 principal, the 0.20% added in the mini-jumbo CD’s APY could accumulate a hefty sum by the end of the fund’s maturation. There’s a big difference between letting a $50000 deposit age on a 3.00% APY and a 3.20% APY. If you’re investing that much money for five years, you might as well ask for a bigger yield.
As in all long term CDs, however, you still need to make sure that the APY at least makes up for the projected USD inflation hike within the CD’s term. In other words, you really need to shop around for high CD rates before putting your money in, especially when it involves long maturation periods like this one.
If the other bank offers a 4.00% APY for the same term with (60 months) more or less the same minimum deposit requirement ($50000), you should drop the 3.20% offer and invest on the higher yielding certificate.
To open a CD account, you need to become a member of the Plus4 Credit Union first. All residents, students, employees and worshippers in selected parts in Houston are eligible for membership. You can make the membership official by opening a basic savings account which should require a minimum balance of $5.
For more details about the membership, please refer to the bank website’s Membership Page. You may send your applications by mail, in person or through email. This credit union is insured by the NCUA under Charter #61457.
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