Best certificate of deposit rates in Virginia (Top 3)

July 17, 2009 No Comments »

Below are the Top 3 CD rates available to the residents of Virginia. The deposit products below are listed by highest yielding interest rate. Because you will almost always find higher interest rates accompanied with longer maturities 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 Virginia we found the best offers to come in the form of 60 month CDs, 50 month CDs, and 24 month CDs. The banks listed below provide their services to the greater Virginia area, you may want to comapre these offers with Maryland CD rates and Washington DC CD rates as they probably overlap. If you are ineligible to join these banks or are in anyway not what you are looking for you may want to compare CD rates available nationwide.

Top 3 CD Rates (Virginia)

(clicking on the institution will provide you with more information)

Virginia Commerce Bank: Vienna, VA. 60 month CD yielding 3.75% APY with a minimum deposit amount of $500. They also have this product available for IRA’s with a minimum deposit of $100. Virginia Commerce Bank is all about taking care of their community. Here is a snippet from their “philosophy” section, “VCB has a passion for community service that is illustrated by our track record of corporate citizenship. Our employees invest their time and talents volunteering for and supporting organizations throughout our market. We consistently seek opportunities to give back to the community.”

NASA Federal Credit Union: Wallops Island, VA. 50 month CD yielding 4.00% APY with a minimum deposit of $10,000. This is a fairly decent offer if you don’t mind tying up your cash for a little over four years but it comes with a relatively high minimum deposit amount. NASA Fed CU is a not-for-profit credit union that passes it’s profits on to it’s members in the form of higher interest rates and lower mortgage rates. You do not have to be an employee of NASA to be eligible, however you do have to be an employee (or family member of an employee) of one of their selected employee groups.

Eastman Credit Union: Gate City, VA. 36 month CD yielding 3.16% APY with a minimum deposit amount of $1,000. Eastman CU has geographically exclusive eligibility. If you live, work, worship or attend school in one of their selected counties you are eligible to join. You may also join if you have family members whom fit that criteria. The territory stretches from Dickson county, Virginia to the north,  Sevier County, Tennessee to the south, Washington DC to the east and Handcock and Lee county to the west. Eastman CU is a not-for-profit member-owned financial institution.

If you reside in Virginia and know of a better rate offered through your local bank or credit union, please share by leaving a comment!

All of the above mentioned banks and credit unions are federally insured by either the FDIC or NCUA and your deposits will be insured up to $250,000.

Compare with today’s top CD rates nationwide below:

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