Thursday, 15 August 2013

These Certificates Of Deposit Are Best In Class

By Cornelius Nunev


You aren't going to get wealthy purchasing CDs, but you can do a lot worse. The primary reason for this is low interest rates. Regardless, here are the best CDs accessible today, based largely upon greatest yield.

Greatest certificates of deposit No. 1 - Ally Bank

Ally was voted by Cash Magazine as the best online bank, in part as a result of good CDs. With a 5 year CD, you can get a 1.59 percent APY, which is great. On top of that, you can 0.94 percent APY on a one year CD with no minimum required to open the account.

Go to Nationwide Bank for an option

Nationwide does more than insurance. Its banking arm sells very competitive CD products that are compounded daily, such as a 12-month, no minimum deposit CD with a 1 percent APY. Its 5-year CD beats the national average at 1.80 APY on deposits up to $9,999.00. A jumbo CD of $100,000 or more offers even better rates.

Look into OneWest Bank

OneWest gets top ratings for both its CD rates and customer service. With a $1,000 minimum opening deposit on a 1-year CD at 1 percent APY, OneWest is a popular choice. Its 5-year CD features a 1.60 percent APY, and both CDs are compounded daily.

Go to Bank of internet USA

Interest is compounded daily at Bank of Internet USA that offers 0.80 percent APY for a 1-year CD and 1.60 percent APY for a five year plan.

EverBank a great way

EverBank's every day compounded certificates of deposit carry no maintenance charges, but the opening minimum deposit is a bit higher than some at $1,500. The 1-year CD benefits 0.81 APY, while the 60-month (5-year) CD has 1.65 APY. Not only are EverBank's rates competitive, but its rankings among its peers for customer service are among the best in the business.




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