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

August 3, 2009 No Comments »

Below are the highest yielding CD rates available to the residents in the state of Iowa. The financial institutions offering these rates are local to this state but may also cover a larger regional area. If you reside in one of Iowa’s bordering states you may also be eligible to take advantage of the savings products below, but you will need to contact a representative.

Also, some of the products listed below may be promotional and therefor only available for a limited time. These promotional deposit rates generally come with odd maturities (outside of the standard 6 month increments).

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.

CD rates are time sensitive in nature, so please refer to the date of this article for accuracy. For updated rates visit our CD rate comparison tables.

Top 3 CD rates in Iowa:

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

Iowa Bank Online: Maquoketa, IA. 9 month CD yielding an APY of 2.26% with a minimum deposit amount of $1,000. This is a promotional offer by Iowa Bank’s online division. They also offer a promotional 27 month “CD special” which comes with an APY of 2.52%. Iowa Bank has 3 physical branches in Bellevue, LaMotte, and Moquoketa. They are a local community bank with roughly 15 employees. They offer credit cards, loan products (auto, mortgage, personal) as well as many different forms of savings accounts.

Linn Area Credit Union: Marion, IA. 15 month CD yielding an APY of 2.45% with a minimum deposit amount of $1,000. Like Iowa Bank’s 9 month CD, this is a promotional product as well. Along with this lucrative account, Linn Area CU also has a money market account for balances above $250k that yields a very impressive 2.50% APY. And as with most credit unions, this one is a not-for-profit member owned institution whom passes it’s profits back to the members in the form of higher savings rates and lower loan rates. Membership is open to anyone who lives or works in Linn, Buchanan, Delaware, Jones, Cedar, Johnson, Iowa and Benton Counties.

Peoples Savings Bank: Milo, IA. 36 month CD yielding an APY of 3.25% with a minimum deposit amount of $1,000. This is not a promotional offer, however the rate is subject to change at any time (fixed rate once you’ve opened the account). Peoples Savings Bank is relatively new (first opened in 1998) and now serves 4 locations in Indianola, Carlisle, Lacona, and Milo, Iowa. In the beginning, several local businessmen helped organize the bank, and a core group of long term local bankers became the original employees of Peoples Bank.

Compare with today’s top CD rates nationwide below:

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