There is a fairly decent deal going on through NewDominionDirect.com if you’re in the market for 2 year bank CD’s. Right now they have a 24 month certificate of deposit yielding 3.01% APY which is roughly 0.50% higher than the current national average.

NewDominionDirect.com is relatively new on the scene as far as online banks go. They are a full service retail bank (online) based out of Charlotte, North Carolina. They also hold the number 1 spot for “2 year CD interest rates” (that are nationally available).

Their website isn’t too impressive and it seems they mostly just promote this current two year CD. They do however, have personal checking accounts, money market accounts and IRA accounts available but they don’t disclose the savings rates associated with them.

I personally have never done business with NewDominionDirect.com, but as a side note, they have received several noteworthy awards for “Best Places to Work” in both 2007 and 2008.

2 year CD Rate through NewDominionDirect.com

• $3,000 minimum deposit to open account
• A penalty may be imposed for early withdrawals.
• Interest compounded daily and paid monthly
• Automatic renewal upon maturity (after your 2 years is up you will want to check the current CD rates and try to move into a higher yielding deposit as rates are low across the board currently)
• FDIC insured

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