Best CD rates in Nevada: Top 3

August 9, 2009 No Comments »

Below are the highest yielding certificate of deposit rates available to the residents of Nevada.These come in the form of 12 month CDs, 36 month CDs, and 60 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the state of Nevada, we found that for the most part, you will be able to receive slightly better rates with local institutions than with large national banks.

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 current rates, compare CD rates nationwide. Also, regional banks may serve a number of states in the southwest, therefor you may want to browse through Colorado CD rates, Utah CD rates and/or Arizona CD rates.

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: Nevada

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

Community Bank of Nevada: Pahrump, NV. 12 month CD yielding 2.57% APY with a minimum deposit amount of $1,000. The current national average for 1 year CDs is 1.65% APY, making this fairly lucrative in comparison. The Community Bank of Nevada offers several very noteworthy certificate of deposit products. They offer an 18 month CD yielding 2.59% APY, a 24 month CD yielding 2.83% APY and a 36 month CD yielding 3.03% APY. Community Bancorp is the bank holding company for Community Bank of Nevada (formed in 2002), which is a Nevada chartered bank headquartered in Las Vegas, NV. They deliver an array of commercial bank products and services with an emphasis on customer relationships and personalized service.

Mutual of Omaha Bank: Reno, NV. 36 month CD yielding 3.0% APY with a minimum deposit of $2,500. Mutual of Omaha Bank operates in Arizona, California, Colorado and Nebraska as well as out of Reno, Nevada. You may opt to have your interest paid to you monthly or reinvested into the CD account. Like most certificates of deposit, this account will automatically renew if you don’t tell them otherwise. Mutual of Omaha Bank also offers a noteworthy 16 month CD special which is yielding a respectable 2.10% APY. As a side note, this 36 month CD is also a promotional or “special offer” and is only available for a limited time.

Bank of the West: Sparks, NV. 60 month CD yielding 3.51% APY with a minimum deposit amount of $2,500. Bank of the West has expanded from the California frontier to its current position as one of the top 25 commercial banks in the nation, with assets of $66.2 billion. The bank now serves more than 4 million business and household accounts in hundreds of communities in 19 Western and Midwestern states: Arizona, California, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin and Wyoming.  Through holding company BancWest Corporation, the bank is a subsidiary of BNP Paribas, one of the six highest rated banks in the world.

Compare with today’s top CD rates nationwide below:

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