Gogebic Range Bank with best cd rates at 3.19% APY for 60-month certificate of deposit
If you are from Michigan, Gogebic Range Bank is still pushing for some of the highest cd rates in the market. The best interest rates can be enjoyed for a minimum initial funding of $500. These certificates of deposit are also available as IRAs requiring an opening balance of at least $1,000.
Here are their top cd rates:
6-month term 2.19% APY
12-month term 2.39% APY
24-month term 2.59% APY
36-month term 2.64% APY
48-month term 2.79% APY
60-month term 3.19% APY
The current interest rates are posted on the bank’s website as of September 28 but they can be updated any time. It will be best to inquire about the latest figures before signing up for anything.
There are no online applications available so it seems that a branch visit is needed to open an account. The Gogebic Range is a small bank with only two branches. One is located in Ironwood and the other one is in Bessemer, both in Michigan.
The website does not detail the early withdrawal penalties. Do not forget to ask before you open this money in the bank deal.
Gogebic Range Bank has very strong ratings. Soundness and safety are reviewed as worthy of 5 stars by the BauerFinancial based on their June 2009 data. Bankrate.com gives 5 stars as evaluated using their March 2009 figures.
This bank is indexed with the FDIC with certificate number 57192.
