GMAC offers 1 year CD with rate of 4%
Warning: The rates featured on this page are likely outdated. Visit our CD Rates Center for updated rates and special offers.
GMAC bank just released a 1 year CD with an APY of 4% as of 12/19/08.
This offer tops BankVibe’s current #1 Bank for CD rates (Imperial Bank, which is offering a 3.78% return) by 0.22%. If you look closely at GMAC’s list of CD rates you will find that their 1 year CD offer smashes the other offers in comparison. Their 18 month CD actually yields a lower rate than the 1 year CD….hmm.
Here is GMAC’s full list of CD rates. The middle column shows the CD RATE and the third column shows the APY. Notice the comparative advantage the 1 year CD has vs all other time durations.
| 3 months | 2.47% | 2.50% |
| 6 months | 3.44% | 3.50% |
| 9 months | 3.34% | 3.40% |
| 12 months | 3.92% | 4.00% |
| 18 months | 3.83% | 3.90% |
| 2 years | 3.97% | 4.05% |
| 3 years | 3.97% | 4.05% |
| 4 years | 3.97% | 4.05% |
| 5 years | 4.26% | 4.35% |
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$500 minimum opening deposit required. Deposit term will begin upon receipt of initial deposit. Your interest rate will be the one in effect on that date. Interest compounded daily. Fees could reduce the earnings on account. Penalty for early withdrawal. All accounts are subject to approval.
If you have done business with GMAC before please let us know about your experience!
December 25th, 2008 at 6:31 pm
Hey, great stuff my man. I heard about MoneyAisle from your blog as well and I wanted to ask you since they have failed to respond to me. Is there anyway to check what banks are participating with MoneyAisle?
Basically INGdirect, HSBCdirect, and now this GMAC offer all have higher yielding CDs than one can find on the “search” at MoneyAisle. Since one has to plug in their state (mine is Cali), are internet banks even taken into consideration? Haha, might be funny that I am asking you since I already asked moneyaisle, but take it as a compliment and keep up the great work.
Happy Holidays
December 26th, 2008 at 11:16 am
I was actually wondering the same. My state is TX and I can get a better rate through MoneyAisle but I dont know which bank won my bid.
December 28th, 2008 at 8:39 am
Hi, I work at MoneyAisle and wanted to address some of these comments.
Zach,
I’m sorry no one responded to you – where did you pose this question? In an email to us? I searched the comments on our blog and found nothing. It’s possible your response was delayed because of the holidays. The short answer is that we do not list which banks are in the MoneyAisle network – only that all the banks are Members of the FDIC and have been further pre-screened by VERIBANC for additional consumer protection (banks which are in danger of failing are not permitted into the network.) If you have other questions about MoneyAisle, or would like some clarification, you are welcome to ask them on our blog at http://blog.moneyaisle.com.
Stephanie,
To see which bank won your bid you have to register for an account. Registering is free, only requires an email address (we never spam and we never sell your info) and you get to use additional cool features like CD Laddering and comparison auctions for different amounts and CD durations.
Thanks for your interest in MoneyAisle – if you have any other questions, please visit our blog.
Happy Holidays,
Kevin Cafferty
Senior Web Producer