Best CD Rates in Miami, Florida: Top 3

September 29, 2009 No Comments »

Below are the highest yielding CD (certificate of deposit) rates available to the residents of Miami, Florida. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of Miami as well as the state of Florida, we found that for the most part, you will be able to receive slightly better rates with national institutions than with local ones.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

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.

Best 6 month CD rates in Miami, Florida:

  • Eastern National Bank has a 6 month CD yielding 1.76% APY with a minimum deposit of $2500. They have locations in both Miami, FL and Coral Gables, FL. 
  • Navy Federal Credit Union has a 6 month CD and a 9 month CD yielding 1.65% APY with a minimum deposit of $10,000. They have locations (both branch and ATM) in Miami.
  • First Bank Florida has a 6 month CD yielding 1.60% APY with a minimum deposit of $1000. They have locations in both Miami and Coral Gables, FL.

Best 12 month CD rates in Miami, Florida:

  • American Airlines Federal Credit Union has a 12 month CD yielding 2.12% APY with a minimum deposit of $10,000. This will be a difficult credit union to join if you do not work for the airlines company. They have locations in Miami, FL.
  • 1st United Bank has a 12 month CD yielding 2.05% APY with a minimum deposit of $5000 required. They have locations in both Miami and Coral Gables, FL.
  • Great Florida Bank has a 12 month CD yielding 2.01% APY with a minimum deposit of $10000 required. They also have locations in both Coral Gables and Miami, FL.

Best 24 month CD rates in Miami, Florida:

  • Bank of Florida Southeast has a 24 month CD yielding 2.55% APY with a minimum deposit of $1,000 required. They have locations throughout Florida, namely Coral Gables and Miami.
  • Banco Popular North America has a 24 month CD yielding 2.35% APY with only a $1.00 minimum deposit required. They have locations in Coral Gables and Miami, FL as well.
  • Branch Banking and Trust Company has a 24 month CD yielding 2.25% APY with a minimum deposit of $500 required. They also have several branch locations throughout southern Florida.
All of the above institutions are federally insured by either the FDIC or NCUA. If you live in the city of Miami, FL and know of a better interest rate offered through your local bank or credit union, please share by leaving a comment.

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