Best CD (certificate of deposit) rates in Delaware

August 17, 2009 No Comments »

Below are the CD rates with the highest interest rates available to residents in the state of Delaware. These come in the form of 9 month CDs, 33 month CDs, and 60 month CDs. After digging through dozens of rate pages by dozens of banks and credit unions serving the state of Delaware, we found that in most cases you can receive more competitive rates offered by national institutions rather than local ones.

Although the financial institutions we’ve listed below do the majority of their business in Delaware, they still may have eligibility requirements which may prevent you from joining (even if you live in DE). Contact a representative to see if you can take advantage of their products.

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Top 3 CD rates in Delaware:

(clicking on the institution will bring you to their home page)

  • Community Bank of Delaware: Rehoboth Beach, DE. 9 month CD yielding 2.12% APY with a minimum deposit amount of $500. The average yield for 12 month CDs is currently 1.60% APY. As it states in their name, Community Bank of Delaware takes an active roll in shaping the local community. They have an entire section of their website devoted towards community involvement and acalades they have acquired from it. Also, all employees of their bank are volunteers of various institutions ranging from the American Cancer Society to Nanticoke Little League.
  • Principal Bank: Nationwide. 33 month CD yielding 2.48% APY with a minimum deposit of $5,000. This deal, while not spectacular, is available nationwide through Principal Financial Group. The Principal Financial Group is a leading global financial company offering businesses, individuals and institutional clients a wide range of financial products and services. Their range of products and services includes retirement solutions, life and health insurance, wellness programs, and investment and banking products through our diverse family of financial services companies and national network of financial professionals.
  • Del-One: Wilmington, DE. 60 month CD yielding 3.01% APY with a $500 minimum deposit. Again, this rate can be beat by national banks such as Discover Bank. Del-One is a not-for-profit financial institution organized to promote thrift and savvy saving. They are member owned and operated by a board of directors (chosen by members). Recently they have been voted as the number 1 credit union in the state of Delaware. They strive to consistently provide the highest certificate of deposit rates in the Delaware and insure your deposits up to $500,000. Please note, that they are not insured by the NCUA (national credit union association) which is government run, but hold a private insurance deal. The FDIC and NCUA only insure deposits up to $250k.

If you reside in Delaware and know of a better CD (certificate of deposit) rate offered by your local bank or credit union, please share by leaving a comment.

Compare with today’s top CD rates nationwide below:

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