Best Certificate of Deposit Rates Review

Best Certificate of Deposit Rates

Getting the best certificate of deposit rates is important to meet your investment goals, and a general rule is that the longer you are willing to keep your money on deposit the better interest rate you will receive. Extremely large deposits may also receive an interest premium, and the best jumbo CD rates can be significant, but most people can not afford to deposit one hundred thousand dollars or more to take advantage of this. Thanks to the Internet searching for the best certificate of deposit rates can be easy and may not take very much time at all. There are a number of institutions well known for offering higher rates for their CDs.

High yield savings accounts may not offer the same higher interest that a certificate of deposit does, although these accounts may seem very similar. Aurora Bank offers a five year CD with a 2.43% interest rate, and the minimum deposit required is only one thousand dollars. One of the best high yield certificate of deposit interest rates is offered by Astoria Federal Savings, and this CD has a rate of 2.75% and a minimum deposit of only five hundred dollars. Metropolitan National Bank in New York also features one of the best certificate of deposit rates for a one year CD. This deposit must be at least one thousand dollars, and offers a very competitive rate of 1.35%.

There are many certificate of deposit rates, some low and some high, and One West Bank, FSB offers one of the highest at 2.57% on their five year CD. Using the Internet to search for and evaluate CD products can be one of the best ways to get the best certificate of deposit rates possible. Some websites will even offer comparisons, so you can see all of the CDs offered for the term you are interested in, as well as the interest rates and any restrictions in place. A little time and effort could help you get a much better return on your money.