Best CD (certificate of deposit) rates in Idaho: Top 3

August 15, 2009 No Comments »

Below are the highest yielding CD rates available to the residents of Idaho. These come in the form of 11 month CDs, 21 month CDs, and 36 month CDs. After digging through dozens of rate pages by dozens of banks and credit unions serving the state of Idaho, we found that in some cases you can receive more competitive rates offered by national institutions rather than local ones. (Compare CD rates).

Although the financial institutions we’ve listed below do the majority of their business in Idaho, they still may have eligibility requirements which may prevent you from joining (even if you live in ME). 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 Idaho

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

  • Idaho Central Credit Union: Twin Falls, ID. 11 month promotional CD with interest rate of 2.75% with a minimum deposit of $1,000. The average yield for 1 year CD’s currently sits at 1.65%. Outside of this promotional CD rate, Idaho Central Credit Union’s rates are far from spectacular. In fact, besides this promotion ALL of their certificate of deposit rates yield less than the national average. Idaho Central Credit Union was organized as a state chartered Credit Union on June 28, 1940 in Boise, Idaho to serve the financial needs of the officers of other credit unions operating in the State of Idaho. Who can Join? All employees of retail, wholesale, service and manufacturing establishments who reside in, work in, are headquartered in or are paid from Ada, Adams, Bannock, Bear Lake, Bingham, Blaine, Boise, Bonneville, Butte, Camas, Canyon, Caribou, Cassia, Clark, Custer, Elmore, Franklin, Fremont, Gem, Gooding, Jefferson, Jerome, Lemhi, Lincoln, Madison, Minidoka, Oneida, Owyhee, Payette, Power, Teton, Twin Falls, Valley, and Washington Counties. Idaho state employees and employees of micron (and Micron subsidiaries) are also eligible.
  • Banner Bank: Twin Falls, ID. Promotional 21 month CD yielding 2.50% APY with a minimum deposit of $2,500. Founded in 1890, Banner Bank is a Washington state chartered commercial bank and a subsidiary of Banner Corporation, a $4.5 billion bank holding company. Headquartered in Walla Walla, Washington, Banner Bank began expanding its service area throughout the Pacific Northwest in the 1960s. Today, we operate 87 full service branches and 8 loan offices in 29 counties in Washington, Oregon, and Idaho. Banner Bank trades publically under the symbol BANR.
  • Inland Northwest Bank: Spirit Lake, ID. 36 month CD yielding 2.80% APY with a minimum deposit of $500. Initially, the bank operated from one location in downtown Spokane, Washington. Now, the bank has 11 branches, with 7 located in Washington and 4 in Idaho. Total assets have grown from less than $4 million to over $250 million. We are primarily engaged in the business of gathering local deposits and extending loans within our immediate market area. While we offer a full complement of competitively priced personal loans, the large majority of our loans have historically been made to small and medium sized businesses.

Compare with today’s top CD rates nationwide below:

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