Posts Tagged ‘18 month CD’
Best 18 month CD Rates yielding 1.65% APY
The best 18 month CD rate available online and throughout the country is currently offering an APY just 0.05% short of the top 24 month CD rates. Currently when you open a MetLife Bank CD and make a minimum deposit of at least $25,000 you can secure an APY of 1.65%. To put this offer in perspective, the national average for 12 month CDs and 3 year CDs are roughly 0.90% APY and 1.50% APY, respectively.
18 month CD offered through MetLife Bank:
- earn 1.15% APY on deposits between $2,000 and $14,999.
- earn 1.40% APY on deposits between $15,000 and $24,999.
- earn 1.65% APY on deposits greater than $25,000.
Click here to apply or learn more about Metlife Bank’s CD rates. To see how this offer stacks up compare it with the best CD rates in our database.
Features of 18 month CD:
- Lock in the fixed rate for an 18 month term.
- Choose from a traditional CD or IRA CD.
- FDIC insurance up to $250,000.
- Free Identity Theft Solutions once a Metlife Bank customer.
Terms and Conditions:
Annual Percentage Yields (APYs) are effective as of 11/15/10 and subject to change at any time without notice. The minimum balance required to earn the advertised APY is $25,000 and must be deposited in a single transaction and must come from a source other than MetLife Bank. Accounts with balances from $2,000.00 up to $14,999.99 earn 1.15% APY, balances of $15,000.00 up to $24,999.99 earn 1.50% APY, balances of $25,000.00 up to $49,999.99 earn 1.65% APY, balances of $50,000.00 up to $99,999.99 earn 1.65% APY and balances of $100,000.00 and more earn 1.65% APY. The minimum balance to open a CD is $2,000.00. A penalty may be imposed for early withdrawals. Fees may reduce earnings. IRA CDs cannot be applied for online.
Top 18 month CD rates yielding 2.40% APY
The best 18 month CD rate in the country is currently yielding 2.40% APY. After digging through numerous rate pages from dozens of banks and credit unions across the nation we have found the best offer coming from a Chicago area credit union – Alliant Credit Union.
To earn the 2.40% APY on an 18 month CD, you must deposit at least $25,000 as well as be a member of the credit union. Below are few ways in which you can join:
- Any employee or member of a qualifying organization
- Any person who lives or works in the following Chicagoland communities: Arlington Heights, Bensenville, Des Plaines, Elk Grove, Elmhurst, Franklin Park, Harwood Heights, Itasca, Mount Prospect, Northlake, Niles, Norridge, Park Ridge, Prospect Heights, River Grove, Rolling Meadows, Rosemont, Schiller Park, Wood Dale and Chicago O’Hare Airport property
- Any person related by blood or law to an existing member
- Domestic partners of unmarried members
Ok, so now for an 18 month CD in which EVERYONE can take advantage of…
The top CD rates accompanying an 18 month term which is available to all customers across the country comes from MetLife Bank. Their rates on this particular product range from 1.35% APY to 2.15% APY depending on how much you can deposit. If you deposit between $2,000 and $14,999 you will only receive an interest rate of 1.35% APY. If you deposit between $15,000 and $24,999 you will receive an interest rate of 1.85% APY and if you can make a deposit of $25,000 you will earn a very respectable 2.15% APY.
If you happen to be in the market for a secured credit card, then you may want to review Citi Bank’s 18 month CD deal, in which they packaged a fantastic CD rate with a new credit card.
Do you know of a better 18 month CD rate offered through your local bank or credit union? If so, leave a comment. Be sure to mention where your bank is located.
Rebuilding credit with CitiBank’s Secured MasterCard
UPDATE —— Attention: This offer is no longer available. Today’s top credit card for rebuilding credit is the Orchard Bank Classic MasterCards.
For those in the credit building phase and whom perhaps also would like open a high yield savings account, CitiBank’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.
Review BankVibe.com’s top credit cards for rebuilding credit in 2011!
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
CitiBank CD rates: trending up?
CitiBank recently upped the rate of their 18 month online CD (certificate of deposit) giving us optimists something positive to cling to, given the current state of the bank deposit market.
As of this month, Citi has been advertising an 18 month online CD yielding a very respectable 2.25% APY. Depending on where you live, you may or may not deem this a decent interest rate, however this product is available to anyone nationwide.
Although local banks may provide higher interest rates, if you happen to stop by our highest yielding CD rates tables (available nationally) you will see that this offer by CItibank takes down some of the best 12 and even 24 month CD rates.
As always, here is the fine print associated with this 18 month bank deposit offer:
- Annual Percentage Yield (APY) is accurate as of 08/25/2009.
- The rate will apply only to accounts opened through the CitiBank website.
- A penalty will be imposed for early withdrawal of principal.
- Fees may reduce earnings.
- APY assumes interest earned is kept in the CD for the full term.
- Minimum opening deposit is $500.
- CD will automatically renew upon it’s maturity unless you specify otherwise
Short-term CD rates trending upward?
We just received some positive news from Discover Bank earlier today. They just announced that their 18 month certificate of deposit product will now hold a higher interest rate of 2.25%, up from 2.10% a week earlier. Although this is only a small gain (0.15%) hopefully it is a sign of things to come!
If you’ve been in the market for savings products (particularly FDIC insured ones) lately, then you undoubtedly know that rates have been trending downward since the beginning of 2009. E-Trade, for example, has seen their online savings rate plummet since the beginning of 2009 from 3.01% APY to a mere 0.95% APY. This same pattern currently holds true for many online savings products.
Now for some positive news…
Besides the recent uptick in Discover Bank’s 18 month CD, we wanted to make note of a couple other national institutions with savings rates on the rise (hopefully not just temporarily).
- Umbrella Bank recently saw the interest rate associated with their 1 year CD raise to it’s current level of 2.01% APY, up from 1.98% APY last week. To put this in perspective, the national average for 12 month CD’s is roughly 1.65% APY.
- ShoreBank Direct saw the interest rate on it’s savings account raise from 2.05% APY to 2.15% APY
- EBank saw a pretty substantial jump in their 12 month CD rate (up to 2.20% APY from 2.00% APY last week)
The largest interest rate raises from last week (national banks only) came from UFB Direct and Bank USA whom saw their rates increase by nearly 30 percent!
UFB DIrect’s 12 month CD rate rose from 1.70% APY to 2.00% APY and Bank USA’s 6 month CD rate rose from 1.75% APY to 2.00% APY.
While the environment still looks bleak for deposit investors, atleast their are some positive trends beginning to take place!
Highest yielding 18 month CD rates. Where to find them?
BankVibe reader Sean just tipped us off on a pretty lucrative 18 month CD rate offered through an Arizona bank called “Gold Canyon Bank.” Currently they have a few different rates associated with their 18 month certificates which vary based on deposit amount. The breakdown of their rates are as follows:
18 month CD with minimum deposit of $10,000 yields 2.38% APY, with a minimum deposit of $50,000 you receive 2.43% APY and with a minimum deposit of $100,000 you receive 2.22% APY.
The tiers in which Gold Canyon Bank has set up are somewhat unique in that they provide varying rates based on deposit, but what makes it even more unique is that they are offering a lower interest rate on the highest deposit (2.22% APY on $100k). This is a bit counter-intuitive and I am not sure what the reason is behind it. If you have any insight, please share by leaving a comment.
Unfortunately, these products are only available to residents in the state of Arizona. Gold Canyon Bank has two branches in AZ, one in Gold Canyon and the other in Peoria. If you live outside of the state you may want to compare CD rates available nationwide to find the best deal. You may also want to search through our archive of 18 month CD’s to find a promotional offer in your state or city.
The national average for 18 month CD’s currently hovers around 1.55% APY.
Best 18 month CD Rates
Here is an updated list of the highest 18 month CD rates. In this list you will find the name of the institution offering the high rate, the rate itself, who can apply for an account (this is based of off physical residence) and a brief overview of the bank or credit union offering the product.
- Montauk Credit Union (New York) – 3.00% APY – Nationally Available – Montauk Credit Union is a not-for-profit, member-owned financial institution chartered in 1922 in Brooklyn, New York.
- Advancial Federal Credit Union (Texas) – 2.97% APY – Employment Based Availability in Texas – Established in 1937, Advancial Federal CU is a full service financial institution serving a select group of partners in the state of Texas.
- SouthEast Financial Credit Union (southeastern states) – 2.75% APY – Southeastern Residents – Established in 1936 in Tennessee, SouthEast Financial CU serves roughly 60,000 members in several states. Their assets top $413 million.
An 18 month CD is a fairly odd duration of time as far as bank certificates are concerned and therefor are not a common product. You may want to compare this to other top yielding CD’s with more common maturity dates. Recently local credit unions and small banks have been offering better savings rates than the national powerhouse banks.
Montauk Credit Union’s CD (certificate of deposit) rates
Thanks (again) to BankVibe reader and contributor FarmerFrank for pointing out some very nice CD rates this time coming from a credit union in New York state.
Montauk Credit Union is a non-profit, member-owned, financial institution with roughly 4,500 members and $50 million in assets. They were chartered in 1922 and open serve customers nationwide. To become a member you will incur a one-time fee of $25.00, after that there are no fees associated with Montauk CU.
Current CD Rates:
12 month CD: 2.75% APY
18 month CD: 3.00% APY
2 year CD: 3.25% APY
3 year CD: 3.50% APY
4 year CD: 3.75% APY
5 year CD: 4.00% APY
7 year CD: 4.50% APY
Rates in effect as of 5/01/09 and are subject to change without notice.
18 month jumbo CD through Advancial Federal Credit Union
Just got tipped off on a high yielding 18 month CD and 18 month jumbo CD being offered through Advancial Federal Credit Union out of Texas.
Their regular 18 month CD carries an APY of 3.17% and their 18 month jumbo CD carries and APY of 3.37%. In order for your certificate of deposit to qualify as a “jumbo” it must meet the minimum deposit amount of $50,000.
Like most credit unions, this one comes with some exclusive requirements as far as membership is concerned. In order to be a member of Advancial you must be employed by one of their select employee groups (SEGs). You may also be a parent, grandparent, spouse, brother, sister, child or grandchild of a current member. Once you are a member of Advancial, you will always be a member as long as you maintain the minimum Savings balance.
Besides their 18 month certificates, they have other CD products which significantly trump the national average (see below). Apply for membership.
| Certificates | ||||||
| Regular & IRA Certificate $1,000 Minimum | Junior Jumbo & IRA Junior Jumbo Certificates $25,000 Minimum |
Jumbo & IRA Jumbo Certificate $50,000 Minimum |
||||
| Annual Percentage Yield (APY) | Dividend Rate | Annual Percentage Yield (APY) | Dividend Rate | Annual Percentage Yield (APY) | Dividend Rate | |
| 3 months | 2.32% | 2.30% | 2.43% | 2.40% | 2.53% | 2.50% |
| 6 months | 2.45% | 2.42% | 2.55% | 2.52% | 2.65% | 2.62% |
| 1 year | 2.84% | 2.80% | 2.94% | 2.90% | 3.04% | 3.00% |
| 18 months | 3.17% | 3.12% | 3.27% | 3.22% | 3.37% | 3.32% |
| 2 years | 3.55% | 3.49% | 3.65% | 3.59% | 3.75% | 3.69% |
| 3 years | 4.14% | 4.06% | 4.24% | 4.16% | 4.34% | 4.26% |
| 4 years | 4.54% | 4.45% | 4.65% | 4.55% | 4.75% | 4.65% |
| 5 years | 4.95% | 4.84% | 5.05% | 4.94% | 5.16% | 5.04% |
12 month CD yielding 3.10% APY through Southeast Fed. Credit Union
Good news! There are more 12 month certificates of deposit yielding 3.0 percent plus coming out of the wood-works. If you scroll down you will notice that we have recently mentioned a few CD’s with 1 year durations yielding rates ABOVE the 3.0% mark, and hopefully this is a trend that will continue.
The latest in our quest for 3.0% 12 month CD’s comes from a credit union in the southeast (Bowling Green, Kentucky). Currently they have two noteworthy deposit rates. The first is a 12 month CD yielding 3.10% APY with a $500 minimum deposit. The second is a 18 month CD yielding 3.25% APY with a $500 deposit.
The only negative news about these rates is that most of the US population is probably ineligible to receive them. Like most credit unions, there are strict geographical restrictions (among other restrictions) for membership.
Southeast Financial Federal Credit Union has a 3 step process for deciphering whether or not you’re eligible for membership.
1) You can become a member via employer. Follow the “3 step” link above to see if you’re employer matches their list of accepted employers.
2) You can become a member via community. If you live, work, worship, attend school or volunteer in the greater Bowling Green, Kentucky area you are most likely eligible to join (and invest in their lucrative bank CD’s)
3) Or, perhaps the most interesting and rewarding, if make a $5.00 donation to their autism school of middle Tennessee you can automatically qualify for membership. (You must call them for details).
