Best certificate of deposit rates in North Carolina (Top 3)

July 16, 2009 1 Comment »

Below are the Top 3 CD rates available to the residents of North Carolina. The deposit products below are listed by highest yielding interest rate. As you are probably aware, you will find higher interest rates accompanied with longer maturities, therefor we took the CD’s that beat the national average by the highest margins (so that we wouldn’t be strictly listing long-term deposits). After digging through dozens of rate pages by various banks and credit unions serving the state of North Carolina we found that many of the larger national institutions are offering more competitive rates than the local ones serving NC. You may want to compare CD rates nationwide to ensure the best rate. The best rates from local banks/credit unions in North Carolina come in the form of 60 month CDs, 48 month CDs, and 25 month CD’s. There are also a few regional banks which serve North Carolina along with a variety of other states in the southeast, therefor you may want to sift through CD rates in Florida and the CD rates in Georgia to see which institutions are also serving NC.

Top 3 CD rates (North Carolina)

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

Crescent State Bank: Wilmington, NC. 60 month CD yielding 3.35% APY with a minimum deposit amount of $1. Crescent State Bank has a somewhat unique form of certificate of deosit offerings. They offer rates based on tiers of deposit amounts. For example, this 60 month CD is only yielding 3.35% APY for balances between $1 and $9,999, however it yields 3.40% with deposits in the range of $10k-$50k and 3.50% with deposits above $100k. Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Bank was opened in December 1998 to meet the financial needs of the communities we service. Crescent State Bank has grown from 11 employees in one office on Kildaire Farm Road in Cary to over 150 employees staffing fifteen offices in Cary (2), Apex, Clayton, Garner, Holly Springs, Knightdale, Pinehurst, Raleigh(3), Sanford, Southern Pines and Wilmington (2) NC.

Live Oak Banking Company: Wilmington, NC. 48 month CD yielding 3.25% APY with a minimum deposit amount of $5,000. LIve Oaks Banking Company specializes in making loans and providing savings products to veterinarians. With 20+ years experience in the animal health care industry, Live Oak Bank has earned a trusted reputation by working almost exclusively with veterinary practices. They claim to understand the challenges unique to that profession. If you have family members that are veternarians (or if you are one yourself) you will most likely be eligible, however if you don’t fit within this niche then you probably wont be able to bank with them.

Blue Harbor Bank: Moorsville, NC. 25 month CD yielding 2.90% APY with a minimum deposit amount of $500. Much like Crescent State Bank, Blue Harbor Bank offers it’s certificate of deposit rates in tiers. However, their tiers are based on ranges of maturity rather that ranges of deposit amounts. Blue Harbor prides itself on being unique and offering a pleasant place to do banking. In each of their three locations they offer free newspapers and coffee and comfortable sitting, so that you can not only conduct your personal banking but also lounge for a bit!

If you reside in North Carolina and know of a better CD rate offered through your local bank, please share by leaving a comment!

Compare with today’s top CD rates nationwide below:

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  • Glenn Meteer

    The Bank of Granite has a current promotion(Charlotte Observer Dec 4, 2009) for a 12 month CD, $5,000 minimum with an APY rate of 2.45%. Penalty for early withdrawal is 6 months of the accumulated interest. I confirmed this yesterday with a bank officer in Charlotte NC.