Best 6 month CD rates paying 1.76% APY

The highest interest rates for 6 month CDs (certificates of deposit) which are nationally available currently sits at 1.76% APY, down roughly 0.05% APY from last week. The current national average for 6 month CD’s sits at 1.16% APY.

Ascencia Bank of Louisville Kentucky currently holds the number 1 spot with its 1.76% yield. They are a national bank and can accept deposits from any state. They require a minimum deposit of at least $500 and your interest is compounded monthly. 

Sometimes banks and/or credit unions offer promotional rates for deposits which carry odd maturities such as 7 month CDs, 13 month CDs or 15 month CDs. America’s Credit Union currently has two noteworthy promotions going on. The first is a 7 month CD paying 2.0% APY with a minimum deposit of at least $500. The second promotion is a 13 month CD yielding 2.15% APY with a minimum deposit of $500 as well. If you know of a better 6 month CD rate (or similar promotional offer) through your local bank or credit union, please share by leaving a comment.

Rebuilding credit with CitiBank’s Secured MasterCard

For those in the credit building phase and whom perhaps also would like open a high yield savings account, CitiBanks’s new secured MasterCard + 18 month CD (certificate of deposit) offer may be just the right tool. This offer gives you the opportunity to knock down both of these birds with one stone.

Here is what you get… You open a CD account with an amount of between $200 to $25,000 and you will then be issued a secured credit card through CitiBank with that amount as your spending limit. They report your account performance to major credit bureaus, and after 18 months, you could become eligible for an unsecured Citi Platinum Select credit card. Meanwhile, you’ll earn a competitive annual interest rate on your CD. Here is what we particularly like about this account, the 18 month CD you purchase comes with an unheard of interest rate of 4.17% APY. To put this offer in perspective the current national average for 24 month CD’s sits at roughly half this rate.

Build Your Credit History

With no minimum income or co-signer required, it’s simple to qualify for this credit card, so you can start building a record of account performance for future borrowing purposes.

Important Credit Card statistics:

• $29 annual fee
• 13.24% APR variable credit limit

36 month “step up” CD through Darby Direct

Darby Direct is offering another noteworthy savings product this month. A few months ago Darby Direct stepped on the scene with a lucrative high yield savings account providing a 3.0% interest rate. Unfortunately that account carried a variable interest rate and has since declined. However, this product comes with fixed rates and of course, is FDIC insured.

Here is how the account works:

Upon opening your account you will receive a 3.0% APY. This account will then be “stepped up” on August 15 of 2010 to a whopping 4.0% APY, then again on August 15 of 2011 to an even more impressive 5.0% APY.

To put this unique offer in perspective the average 12 month CD is yielding only 1.60% APY and the average 36 month CD yields 2.20% APY.

Terms and Conditions:

(as seen on their promo page)

• $500 minimum deposit requirement
• Annual percentage rates will change ONLY on the dates specified
• Substantial penalty will be imposed for early withdrawal
• Fees will reduce earnings
• Offer effective as of August 1, 2009
• FDIC insured

H&R Block’s 6 month CD promotion: 2.0% APY!

Here is a very noteworthy CD rate promotion coming out of H&R Block. You’re probably more familiar with H&R Block as a tax service company, helping individuals with their personal taxes through their proprietary software and industry knowledge, however H&R Block offers a fairly wide range of deposit products as well. The rates associated with their standard CD’s aren’t that competitive at this time, but this promotional 6 month CD stomps on the national average by nearly 50% (national average sits at roughly 1.24% APY).

Use the promo code: CD180DAY and follow this link.

Thanks to BankVibe reader Will, for submitting this one to our inbox!

Terms and Conditions:

• minimum deposit amount of $10,000 required
• any early withdrawal could reduce earnings
• FDIC insured up to $250,000
• available from September 1 - September 30, 2009

5 month CD, 5.0% APY with a $500 minimum deposit!

It’s called the 5-5-5 promotion and it’s being offered through People’s Trust Financial Credit Union. Generally with credit unions, either you’re eligible to join or not, and there’s not much middle ground. However People’s Trust FCU out of Houston, Texas, is allowing anyone to join with a mere $5.00 donation to their foundation (no, this is not part of the 5-5-5 promotion, just happens to be a coincidence).

Recently we did a report on the best money market accounts in Texas and BankVibe reader Doug posted this amazing deal in the comments section. Thanks Doug!

Here’s the scoop…

Watch your money grow with a 5-5-5 Term Share Certificate. The 5-5-5 certificate offers a 5-month term, 5.00% APY, and a $500 minimum deposit. This account also allows deposits in $5 increments up to the maximum account balance of $5,000. Make a new deposit to the account as often as you like throughout the five month term.

So I guess the only downside to this promotion is that you can only invest $5000, however this is a great opportunity for first time savers or anyone looking for a high yield on their hard earned cash!

15 month CD “special” rate through Enterprise Bank of South Carolina

Enterprise Bank of South Carolina has two pretty substantial offers on their promotional CD (certificate of deposit) products.

As of August 10, 2009, Enterprise Bank is offering a 15 month promotional CD yielding 2.50% APY as well as a 27 month promotional CD yielding 3.25% APY. The national average for 12 month CDs sits at roughly 1.70% APY and the national average for 24 month CDs sits at roughly 2.05% APY (to put these promotional products in perspective).

Surprisingly enough they do not mention any sort of minimum deposit amount associated with their CD products on their rates page, however, I would venture to guess it’s between $500 and $1000. If you have experience with this bank and know what the minimum deposit requirements are, please share by leaving a comment.

Although Enterprise Bank has online banking options, you cannot open these certificate of deposits online, therefor it may be difficult to invest in one of these if you reside outside of South Carolina.

They have branch locations and ATMs in the following cities: Bamberg, Barnwell, Blackville, Cottageville, Denmark, Edisto Island, Ehrhardt, Ridgeville, Springfield, Walterboro, and Williston.

If you do live in South Carolina and are looking at opening a certificate of deposit through a local bank, you may want to browse through our archive of CD rates in South Carolina.

Banner Bank’s CD (certificate of deposit) promotion

Banner Bank is currently running a pretty sweet 21 month online CD (certificate of deposit) promotion which is yielding 2.50% APY. The average yield for 24 month CDs sits at roughly 2.0% APY.

This is a summer promotion which has been available since the middle of June and is ONLY available online. The minimum deposit required to open this CD account is $2,500.

Although Banner Bank generally serves the pacific northwest (Idaho, Washington and Oregon), this online CD is available throughout the country. Banner Bank claims you can apply and be approved in under 15 minutes.

Here is what you will need to apply…

• Social Security Number
• Drivers License Number
• A copy of a check from your current checking account, if applicable (information on the face of your check may be required for funding your new account)
• E-mail address

You may transfer money into the 21 month online CD account from the following types of bank accounts:

• Personal Savings or Money Market
• Personal Checking
• Personal Certificate of Deposits

Fort Knox Federal Credit Union’s promotional CD rates

After compiling the post, “Best CD rates in Kentucky” we discovered one particular credit union currently running some very noteworthy promotional deposit products. Fort Knox Federal Credit Union out of Radcliff, Kentucky has three promotional CD rate offers which absolutely crush the current national average.

All of their promotional products hold relatively short maturities with “odd-ball” durations. The first is a 7 month CD which is yielding an APY of 2.50%. To put this in perspective the average rate for 6 month CD’s currently sits at around 1.30% APY.

The second is a 11 month CD yielding an APY of 2.60%. The current national average for 12 month CDs is around 1.65% APY.

And their third promotional deposit product is a 17 month CD with an APY of 2.75%. The current national average for 24 month CD’s sits at around 2.0% APY.

Like most credit unions, this one is particularly hard to join if you don’t fit precisely within their eligibility guidelines. First, if aren’t serving in the military you may have a difficult time obtaining a membership (unless you reside near one of their 12 branches), second if you ARE serving and live outside of Kentucky, then you may be eligible but it will most likely require a physical visit to one of their branches.

Fort Knox Federal Credit Union has seen tremendous growth over the past few years which has allowed them to expand into many neighboring communities. Their latest addition is the Campbellsville Branch, making 12 branch locations across Kentucky in Hardin, Grayson, Meade, Nelson, Boyle and Taylor counties. Currently, Fort Knox Federal Credit Union has over 67,000 members with over $700 million in assets.

5 month CD special yielding rate of 5.0% APY!

Wow! You don’t see this very often these days, thanks to BankVibe reader Tim for sending it in!

Point Breeze Credit Union out of Maryland is offering a fantastic deal for new money (aka new members) to entice them in to their institution. Currently, when you bring $2,500 in as a new customer they will grant you a 5 month certificate of deposit yielding 5.0% APY. The interest rate on this CD hardly beats their loan rates which hoover between 4.50% to 6.50% APR.

Here is the catch. First, you must become a member and as you may already know with credit unions this can be particularly tough. To become a member of Point Breeze you must work for one of their participating companies which are situated within 20 miles of one of their branches. There are a total of 700 participating companies in Maryland, Baltimore and Hartford counties. See their membership page for further details.

Second, the maximum deposit and minimum deposit are the same. You may only invest $2,500, no more no less. The interest rate is fixed at 5% once you open the account, however this is a promotional offer and is subject to change without notice.

You may want to compare local CD rates in Maryland or take a look at CD rates available nationwide.

Citizens First Savings Bank’s 22 month CD special: 3.15% APY

A fairly exceptional offer just came through the BankVibe inbox today. This one comes out from a local bank in the state of Michigan called, “Citizens First Savings Bank.” This is a CD rate promotion and is only available for a limited time.

Typically when you get odd-ball maturities such as 8, 15 or 22 months it is packaged with a promotional CD offer. General certificates of deposit come in 3 or 6 month increments. The national average for 24 month CD’s currently sits at around 2.20% APY making this offer pretty lucrative in comparison.

22 month CD rate promotion terms and conditions:

• minimum deposit of $1000 required
• Interest compounded quarterly
• new money only! If you already bank with Citizens First Savings then you will only receive an APY of 2.71% on this deposit
• penalty may be imposed for early withdrawal
• rates good as of 7/24/2009

Citizens First Bancorp, Inc. operates as the holding company for CF Bancorp. CF BankCorp provides it’s services to residents of the southeastern portion of Michigan’s lower peninsula. The company accepts various deposit accounts, and frequently runs odd-ball maturity certificate of deposit rate promotions. The current promotions in which they are running are a 8 month CD yielding 1.50% APY, a 13 month CD yielding 2.25% APY, and a 32 month CD yielding an APY of 3.27%.

Visit their rates page for more details. You may also want to compare this offer with other Michigan savings rates.