7 month CD paying 1.05% APY – Available Nationally!

Wow, these interest rates on short term CD rates certainly don’t pop up very often anymore – and especially not from banking institutions that can accept deposits from around the country. Thanks to BankVibe.com reader Jen for alerting us on the offer!

Here’s the scoop:

For a limited time Atlantic Coast Bank (member FDIC) of Georgia and Florida is offering consumers a promotional 7 month CD yielding 1.05% APY with a minimum deposit requirement of $1,000. And even though their physical branches reside in the southeast, consumers can obtain the deposit products from around the country.

We know it’s hard for savers to get excited over rates so low, but when you deal with CD rates every day like we do, seeing 6 month to 1 year promotional CD rates still keeping their rates above 1.00% can get exciting.

To put this offer in further perspective the top 6 month available nationwide from our deposit rate database is yielding 0.95% APY and the national average for 6 month CDs sits at around 0.50% APY.

Atlantic Coast Bank also has a promotional 15 month CD (as both traditional deposits and IRA deposits) which provides and APY of 1.25%.

If you’re looking for something with a little more in the way of interest rates, you may also want to scope out their “Kasasa Cash Checking Account.” It’s pumping out returns of 2.01% annually, but you’ll need to jump through a few hoops to get the advertised APY. For starters you’ll need to make 10 debit card transactions per month from the account. You’ll also have to set up a recurring direct deposit as well as sign up for e-statements.

As for the deposit promotions, Atlantic Coast Bank allows consumers to open them either online or by mail.

Contact atlanticcoastbank.net.

Navy Federal Credit Union “Easy Start” Deposit Promotion

Navy Federal Credit Union has a great promotional offer for those looking to start a savings account. It’s called the “Easy Start” certificate and it’s a 12 month CD yielding an incredible 3.0% APY.

To put this special offer from NFCU in perspective, the current national average for 1 year CD rates sits at a measly 0.80% APY.

There are, however, a few strings attached to this account. First, you must be a member of NFCU. We covered the membership requirements in an earlier post this week when discussing NFCU’s promotional mortgage offer and rates. In a nut shell, either you or someone in your family must have served in the military or worked in certain governmental agencies to make you eligible for membership. Second, you’ll need to set up a Direct Deposit of Net Pay (minimum $300 per direct deposit), a Navy Federal checking account, and a monthly automatic transfer of at least $15 into your Special EasyStart Certificate within 90 days of the certificate issue date for you to obtain the advertised 3.0% APY.

Because the interest rate they’re offering on this CD is so much higher than today’s current savings rates and national averages, they’ve put a ceiling on the amount of money you can invest into it at $3,000. So, if you’re able to max out the account you’ll have garnered $90 from your investment after 12 months.

Additional details of Navy Federal Credit Union’s “Easy Start” 12 month Deposit Offer:

- Minimum Deposit required $50 (Maximum deposit allowed $3,000).

- Only one Special EasyStart Certificate per member is allowed.

- You must be at least 18 years old to obtain it.

- You must be a member of NFCU.

- Federally insured by the NCUA (FDIC equivalent for credit unions).

Navy Federal Credit Union usually offers this promotion every Spring (this year it started on March 28, 2011). And when they issued it in 2010 it was providing an APY of 3.25%.

San Diego County Credit Union CD Rates

Last week we were forwarded a couple noteworthy promotional CD rates from San Diego County Credit Union. These deposit rates, while still relatively low, are currently beating the national average by significant margins. To get a better idea of where certificate of deposit rates have fallen from in the greater San Diego area, you can compare the rates we’ve highlighted below to the best CD rates in San Diego from 2009.

San Diego County Credit Union is a relatively large credit union in southern California. Today they have a little over 214,000 members and roughly $5 billion in assets. They were originally established in 1938 and now have 28 branches in San Diego, Riverside and Orange counties.

San Diego County Credit Union CD Rates

(Rates accurate as of April 2011. Use our CD rate search engine to find the best rates nationally available.)

- 9 month “promotional CD” yielding between 1.00% APY and 1.09% APY depending on deposit size. A minimum deposit of $2,000 is required.

- 25 month “promotional CD” yielding between 1.35% APY and 1.45% APY depending on deposit size. A minimum deposit of $2,000 is required.

- 57 month “promotional CD” yielding between 2.75% APY and 2.85% APY depending on deposit size. A minimum deposit of $2,000 is required.

Regular CD Rates:

- 3 month CD yielding between 0.20% APY and 0.30% APY depending on deposit size. $2k minimum deposit required.

- 6 month CD yielding between 0.40% APY and 0.50% APY depending on deposit size. $2k minimum deposit required.

- 12 month CD yielding between 0.65% APY and 0.75% APY depending on deposit size. $2k minimum deposit required.

- 18 month CD yielding between 0.80% APY and 0.90% APY depending on deposit size. $2k minimum deposit required.

- 24 month CD yielding between 1.06% APY and 1.15% APY depending on deposit size. $2k minimum deposit required.

- 36 month CD yielding between 1.40% APY and 1.50% APY depending on deposit size. $2k minimum deposit required.

- 48 month CD yielding between 1.75% APY and 1.85% APY depending on deposit size. $2k minimum deposit required.

- 60 month CD yielding between 2.35% APY and 2.45% APY depending on deposit size. $2k minimum deposit required.

13 month CD rate promotion from Start Community Bank

Yesterday we were forwarded a sweet 13 month CD rate promotion coming out of a small community bank in Connecticut. Currently with a minimum balance of just $500 you can lock in a 13 month CD yielding 1.67% APY from Start Community Bank. To put this offer in perspective, the current national average for 12 month CDs sits at just 0.90% APY. Start Community Bank’s CD rates are relatively unimpressive besides this 13 month promotion. Below is a complete list of their CD rates.

Related: Compare this offer with the best CD rates in Connecticut.

Start Community Bank’s CD Rates:

(rates accurate as of March 2011)

- 3 month CD yielding 0.30% APY with a minimum deposit requirement of $1000.

- 6 month CD yielding 0.60% APY with a minimum deposit requirement of $1000.

- 12 month CD yielding 1.00% APY with a minimum deposit requirement of $1000.

- 18 month CD yielding 1.31% APY with a minimum deposit requirement of $1000.

- 2 year CD yielding 1.61% APY with a minimum deposit requirement of $1000.

- 3 year CD yielding 1.92% APY with a minimum deposit requirement of $1000.

- 4 year CD yielding 2.12% APY with a minimum deposit requirement of $1000.

- 5 year CD yielding 2.42% APY with a minimum deposit requirement of $1000.

Get their 13 month CD promotion here.

CD Rate Promotion: Limited Time 18 Month Bank CD!

BankVibe.com reader Ben just forwarded us a fairly nice 18 month CD rate promotion available for a limited time through Velocity Credit Union out of Austin, Texas. From now until the end of this month VCU is providing it’s members with a 18 month CD yielding up to 1.56% APY depending on your deposit amount and whether or not you’ll be using it as an IRA CD. (Visit promo page here.)

Here is how the interest rates are broken down for this specific CD promotion. First, if you are just going to open a traditional CD (certificate of deposit) you will need to make a deposit of at least $5,000. If your deposit amount is between $5000 and $9,999 you’ll incur an APY of 1.26%, if your deposit is between $10k and $89,999 you’ll incur an APY of 1.46% and if your deposit is above $90k you’ll get a 1.50% APY.

OR, if you happen to be in the market for an IRA CD then this promotion will provide you with slightly better interest rates. On deposit between $5k and $9,999 you’ll get 1.31% APY, on deposits between $10k and $89,999 you’ll get 1.46% APY and with deposits above $90k you’ll snag an annual percentage yield of 1.56% APY.

To put the offers above in perspective the national average for 1 year CDs and 3 year CDs sits at roughly 0.90% APY and 1.47% APY, respectively.

About Velocity Credit Union:

VCU is a full service financial institutions that was originally chartered in 1947 to serve the city of Austin, TX employees. Today they oversee over $500 million in assets and have almost 70,000 members. They currently have several branch locations throughout RoundRock, Texas and Austin, Texas.

Who can join?

There are 3 ways to join this credit union. First, if you live within a 10 mile radius of any ATM or brach you are eligible for membership. Second, if you have a family who is a member, you are automatically qualified. Third, if you work for one of their selected employers you may join (over 100 sponsoring employers and organizations).

Compare the CD promotion above with some of the best CD rates in Texas.

6 month CD promotion yielding twice the national average

We were forwarded a 6 month jumbo CD offer from a credit union out of South Carolina called Premier Federal Credit Union which comes with an interest rate that demolishes the current national average for six month CDs. Currently, with a minimum deposit of $50,000, you can lock in a six month promotional CD yielding 1.30% APY. To put this offer in perspective, the national average for these products sits at just 0.65% APY and the best offers available nationwide are providing an APY of just 1.10%.

Complete List of CD Rates offered through Premier Federal Credit Union:

(Rates accurate as of Jan 2011. For updated rates check out our database of the best CD rates throughout the country.)

Who can take advantage of these CD rates?

You can obtain membership for PFCU if you work for, or are receiving pension payments from one of the 375 member businesses within North and South Carolina. You may also be eligible if you have family members whom are members or live, work or worship in North or South Carolina. Visit a branch and speak to a representative for further inquiries into membership.

You can also see how this offer stacks up against the best CD rates in South Carolina.

Historical Bank CD Rates (Covering 2009-2011)

We’ve been keeping our fingers crossed for a more promising 2011 for savers (especially those in the market for bank CDs) but haven’t yet seen any reason for much optimism. When discussing the current state of abysmal CD rates we began to think of all the great rates we were so accustomed to seeing in the past. Below is a highlight reel – if you will – of some of the top CD rates of the last two years. Some of these were local offers and some were national ones, and if you happen to be a regular here at BankVibe and specifically remember a sweet product you took advantage of in the past, feel free to dig it out of our archive of CD rates promotions and bring it to our attention!

1) The top deal we found in our archives was a 7 Month CD promotion that we found coming out of Connexus Credit Union (Wisconsin) back in February of 2009. With this product they were offering an astounding 5.00% APY for the 7 month term with deposits of $100k or more, 4.50% APY on deposits between $50k and $99k and still respectable 3.50 % APY on deposits between $1k and $49k. Today, they still offer very noteworthy rates given the current CD rates market, however, you’ll need one of their checking accounts to accompany these deposits. With this checking account you can lock in 6 month CDs with a 1.50% APY, 12 month CDs with a 1.75% APY and 5 year CDs with a 3.0% APY.

2) Regal Financial Bank (out of Seattle, WA) had a promotional 12 month CD yielding a whopping 4.0% APY that could be opened online or over the phone from customers around the country. It was called their “MVP CD” and it came with an minimum deposit requirement of $2,500.

3) Urwin Union Bank’s CD rates were decent but they had one promotion that was phenomenal. Back in June of 2009 they were giving away a free HDTV when you opened an 11 month CD with a minimum deposit of $20k. You might think the abnormally high minimum deposit warranted the free TV, however, they were still shelling out an interest rate of between 1.75% and 2.60% on the deposit to boot!

4) The fourth best deal came from Shore Bank (Virginia). This would have easily been the best offer of the last 5 years throughout the entire country had it come with more flexible deposit amount terms. They had a promotional 3 month CD yielding an astounding 10% APY! The catch? You could only deposit up to $1000 in the account. Still a very incredible offer and a great opportunity for a younger, first-time saver.

5) Another unheard of interest rate came from Elevations Credit Union (out of Colorado) who had a promotional 7 month CD yielding a whopping 7% APY! The catch with this was similar to Shore Bank’s in that you could only deposit $2,000 in the account. Again, not too shabby for any new-B just beginning to shop around for an FDIC insured savings product.

Why show you all these rates on CDs that are no longer eligible and only stand to make you more frustrated? As a sign of hope for 2011. Perhaps, with a bit of luck, towards the end of this year we could see banks competing for our money yet again by throwing promotions like these out on the market for savvy investors to swoop up. Fingers crossed.

25 Month CD with Promotional APY – First National Bank

We were just forwarded a pretty nice 25 month CD with a great interest rate available to some residents of Wisconsin (Go to Deal Page Here). Fisrt National Bank is offering a 25 month CD yielding 2.00% APY with a minimum deposit of $2,500 required. To put this offer in perspective the national average for 1 year CDs sits at 0.94%APY and the national average for 3 year CD’s sits at just 1.53% APY. First National Bank operates primarily in Wisconsin but has a few branches in Texas as well. To apply for this 25 month bank CD you’ll need to stop by a local branch.

Branch Locations (Wisconsin and Texas):

Iola, Weyauwega, Clintonville, Marion, Seymour, Shiocton, and Chetek, Wisconsin, and Pampa, Shamrock, and Childress, (Texas).

Complete List of CD Rates offered from First National Bank:

Certificates of Deposit

About First National Bank of Wisconsin:

They started in 1885 under their original name Old National Bank with total assets of just $210,000. Throughout a century of acquisitions and business development National Bank now controls over $625,000,000 in assets. First National Bank is headquarterd in Waupaca, Wisconsin.

13 month CD Rate promotion available in Michigan: 1.65% APY

Over the weekend we were forwarded a sweet CD rate promotion available to residents in Michigan (or any member of First General Credit Union). Currently with a minimum deposit of just $1,000 you can open a 13 month CD with a promotional rate of 1.65% APY. To put this offer in perspective the current national average for 12 month CDs sits at just 1.00% APY.

When banks offer promotional CD rates (certificates of deposit) they usually come with odd-ball terms such as “13 months” or “15 months.” Check out some older CD promotions in our archives to learn more.

Details of First General Credit Union’s Promotional CD Rate:

- 13 month term yielding 1.65% APY.

- minimum deposit of $1,000 required.

- Available November 1, 2010 – January 31, 2011.

Who can take advantage of this product?

First General Credit Union offers membership to anyone who works, worships, attends school or lives in Muskegon, Oceana, Ottawa, Newaygo, or Kent counties. They were established in 1953 for the purpose of serving General Telephone employees and their families. They then expanded their field of membership in 2006, Today, they have grown to a full-service financial institution owned by their 5000 members controlling roughly $38 million in assets.

You can open this CD account by stopping by a local branch or calling them at (800) 624-0697.

Compare this offer with the best 12 month CD rates available nationwide OR compare this with the best CD rates in Michigan.

XCEL Federal Credit Union’s Exceptional 3 Year CD Rate: 3.0% APY!

We just got word that XCEL Federal Credit Union (based out of New Jersey) is offering a fantastic 3 year CD (certificate of deposit) promotion. Currently, if accepted to the credit union and with a minimum deposit of just $500 you can open a 3 year CD yielding a whopping 3.0% APY. To put this offer in perspective the current national average for 36 month CD’s sits at just 1.60% APY. This offer almost doubles it!

Thanks to BankVibe.com reader Tom Quigley for tipping us off on this outstanding promotion!

Now here is the bad news…

Unfortunately for most of us, this offer may be off the table considering the relatively exclusive membership eligibility checklist. Below are the complete details for joining:

First – Membership is established by opening a regular XCEL Savings Account and maintaining a $5 minimum balance. Once established, you can take advantage of your XCEL membership services for life – even if you change jobs, move or retire – as long as you maintain your XCEL account.

Second – Membership in XCEL Federal Credit Union is only open to employees and family members of a select group of employers.

See how this offer stacks up against other CD rates in New Jersey.