US Bank with Top CD Rates at 4.00% APY for 59-month Special
The 59-month certificate of deposit of the US Bank offers the best cd rates at 4.00% APY. They also have other competitive programs like the 37-month special earning 3.00% APY and their 13-month deal that gains 2.15% APY.
The certificates are available with a minimum deposit of $1000. The interest of the money in the bank is paid on an annual basis and upon maturity.
You have to closely read the terms for this account since the withdrawal penalty is a bit stiff. The disclosure reveals that the 59 month CD early withdrawal penalty is equal to 29.5 months of interest.
Compared to other offerings, typically early withdrawal penalties are only up to 6 months of interest. These penalties are very important since with the current financial environment, rates may dramatically change. If interest rates suddenly shoot up, you can save a lot of money when you want to transfer the funds to a better earning account.
Online application can be accomplished by those who already have a checking account with the bank. The bank will use this link to fund the certificate of deposit. They do not accept checks send via mail.
Those who do not have a checking account with the bank need to drop by a branch to open the account. They have branches in several states.
The US Bank is doing well amid the financial crisis. The bankrate.com rating was given as 4 stars. BauerFinancial gave a review of 3.5 stars.
The US Bank is insured by the FDIC with certificate # 6548.
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Awesome Find! Here are some rates from other banks that afe worth a look. CheckingFinder is now offering a limited time offer of a trial membership to Dave Ramsey’s MyTotalMoneyMakeover.com (Renown Personal Finance Advisor) for every person who submits an application.
here is an example of some nationwide bank rates
Rates with a * signifies this bank rate is available nationwide.
Florida Central Credit Union
6.01
FL
First Robinson Savings Bank*
6.01*
IL
Connexus Credit Union*
5.15*
WI
Keystone Bank*
5.15*
AL
Community Bank of Pleasant Hill*
5.01*
MO
Three Rivers FCU
5.01
IN
Union State Bank/Bank of Atchison*
5.01*
KS
Beacon Federal Credit Union
4.51
TX
Communications Federal Credit Union*
4.25*
OK
First New England Federal Credit Union
4.15
CT
Nate
Comment by Nate — March 30, 2009 @ 5:58 pm