Best Certificate of Deposit Rates in Arizona (Top 3)

July 2, 2009 No Comments »

Below are the top 3 certificate of deposit rates for residents of the state of Arizona. These rates come in the form of 12 month CDs, 24 month CDs and 36 month CDs. Generally the longer the maturity the higher the interest rate. If you reside in Arizona and know of a better CD rate, please share by leaving a comment below!

The local banks and credit unions in Arizona offer very decent rates when compared to the rates offered by the larger national banks. This is not always the case. For many states in the northeast you are better off banking through large national banks (IE Discover, Ally, etc) as these banks will get you better rates than the local ones.

Top 3 CD Rates from Arizona Banks:

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

Metro Phoenix Bank: 12 month CD yielding 2.52% APY with a $5,000 minimum deposit amount. Metro Phoenix Bank strives to serve the banking needs of businesses in the Phoenix metropolitan area. They have a strong focus on business banking (rather than consumer banking) and claim to differentiate itself from its competition by intending to generally limit itself to commercial and real estate banking customers.

Gateway Commercial Bank: 24 month CD yielding 2.75% APY with a $1,000 minimum deposit amount. Gateway Commercial Bank of Mesa, Arizona also strives to serve the local businesses. The want to be considered the “hometown bank” for small businesses in Mesa and the surrounding areas. They are a locally owned and operated institution.

Trust Bank: 36 month CD yielding 3.10% APY with a $500 minimum deposit amount. Trust Bank of Tempe, Arizona is more consumer focused when compared to the previous two institutions. They pride themselves on customer service and the integration of user-friendly online banking technologies. Founded in 1912, Trust Bank was originally called Olney Trust and Banking Company.

Compare with today’s top CD rates nationwide below:

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