Quick Profile of Nexity Bank: Nexity Financial Corp was originally established in 1999 in Delaware but has since move their headquarters to Burmingham, Alabama. They have $957 million in assets and serve over 21,000 customers in all 50 states in the United States and 20 different countries. Nexity claims that their senior management team has an aggregate of over 120 years experience in both banking and technology to implement its objective of becoming a leading provider of financial services.

Current CD Rates offered through Nexity Bank:

(CD Rates accurate as of 10/27/2010)

- 30 day CD with interest rate of 0.26% APY on minimum deposits of at least $1,000.

- 90 day CD with interest rate of 0.46% APY on minimum deposits of at least $1,000.

- 6 month CD with interest rate of 1.01% APY on minimum deposits of at least $1,000.

- 9 month CD with interest rate of 0.98% APY on minimum deposits of at least $1,000.

- 12 month CD with interest rate of 0.96% APY on minimum deposits of at least $1,000.

- 2 year CD with interest rate of 1.57% APY on minimum deposits of at least $1,000.

Terms and Conditions:

Annual Percentage Yields (APYs) are accurate as of 10/27/2010. Fees could reduce earnings. CDs subject to interest penalty for early withdrawal. Posted interest rates are available only on accounts of less than $250,000. Visit NexityBank.com for further information.

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Marathon National Bank of New York was founded in 1989 to serve the financial needs of local consumers and business owners in the greater New York Metropolitan area. The bank’s principal belief was that it’s ability to provide high quality customer service would be the key factor in retaining and growing a solid customer base. For almost two decades, this full service commercial bank has been dedicated to the ideal of providing creative financial solutions and unparalleled personal service to its customers.

Marathon banks other certificate of deposit offerings are fairly lack luster. The only decent CD rate they have (when compared to the national average) is there 3 month product. Their longer term deposits aren’t even noteworthy.

Complete List of CD rates offered through Marathon Bank:

Like all bank rates, these are time-sensitive in nature and may change without notice. Please refer to the date of this article for accuracy. You may view Marathon Bank’s current CD rates here.

Compare these rates to other CD rates in New York.

About Hyperion Bank:

Hyperion Bank claims to be the first community bank to locate in the urban section of Philadelphia in more than 20 years, opening its doors in November of 2006 in the Northern Liberties area, about a mile and a half north of the Liberty Bell. They chose this site because of its extensive residential redevelopment, expanding small businesses and deep-rooted neighborhood residents.

In addition to bringing a new urban banking center to the neighborhood, Hyperion Bank also brought urban revitalization. Housed in a stunning red brick building (above) that over a century ago was Philadelphia’s Eighth National Bank, their initial branch and corporate headquarters, located at the northeast corner of Second Street and Girard Avenue, was a vacant warehouse for the last couple of decades. Now the 135 year old bank building has been restored to its original 1871 grandeur, has received an award from the Preservation Alliance for Greater Philadelphia and is a signature footprint in the area’s urban revitalization.

Current CD Rates offered through Hyperion Bank:

- 30 day CD yielding 0.65% APY with a minimum deposit of $399 required.

- 3 month CD special yielding 1.15% APY with a minimum deposit of $399 required.

- 6 month CD yielding 0.85% APY with a minimum deposit of $399 required.

- 9 month CD yielding 1.00% APY with a minimum deposit of $399 required.

- 12 month CD yielding 1.15% APY with a minimum deposit of $399 required.

To get a better idea of CD rates in this region you may want to compare this offer with the best CD rates in Pennslyvania or the top CD rates in Philadelphia.

Recent News for Hyperion Bank:

- In February of this year Hyperion Bank was held up and robbed at gun point by an unkown man standing around 5’6″ and as of February of this year, the criminal who robbed this bank was still at large. Read Full Story.

Prairie National Bank has just two locations in Illinois, one in Shelby County and the other in Effingham. You can stop by a bank or contact a rep via phone to discuss opening a deposit account.

Short Term CD Rates offered by Prairie National Bank:

Their promotional CD rates include a 9 month CD yielding 1.50% APY as well as a 15 month CD yielding 1.85% APY. Both of these offers come with a minimum deposit amount of $500.

To put some of the offers located in the table (above) in perspective. The national average for 3 month CD’s sits at roughly 0.30% APY. The national average for 6 month CD’s sits at roughly 0.80% APY. The national average for 12 month CD’s sits at roughly 1.17% APY and the national average for 3 year CD’s sits at roughly 1.98% APY.

About Prairie National Bank:

Prairie National Bank is a full service community bank.  Lending services include farm loans, business loans, consumer loans and home mortgage loans.  Checking services include free checking, NOW and Money Market accounts, business checking and the Shazam check card.  They also offer certificates of deposit, savings accounts and individual retirement accounts (IRA). Their deposit products are federally insured by the FDIC.

As for national banks offering the highest interest rates on this particular product, Imperial Capital Bank out of Beverly Hills, California offers a 1.22% APY with a minimum deposit of $2,000 required. This product can be opened online (15 minute application process) and is available to customers throughout the country.  To open this account you will need standard personal information such as social security number, address, employment information, and bank information from which you will be transferring the funds.

The second best rate (nationally available) comes from Excel National Bank. They have a similar online application and processing procedure. Their 3 month CD yields 1.20% APY, however it comes with a minimum deposit amount of $10,000. They also provide a number of business CDs with similar yields to their personal ones. Excel National Bank is also based out of Beverly Hills, California and opens itś doors to customers nationwide.

The third best interest rate provided to a 3 month CD is 0.75% APY and it comes from Danvers Bank. They specialize in online banking and have been around since 1850. Today they control roughly $1.70 billion in assets. Their 3 month CD used to hold the number 1 spot a few months back but has since dropped a bit. Danvers Bank only requires a minimum deposit of $500 to open any of their certificate of deposit products. On a side note, Danvers Bank also offers an exceptional high interest checking account which is currently yielding 4.01% APY.

All three of the above institutions are federally insured by the FDIC, if you happen to know of a better 3 month CD rate, please leave a comment! You can compare these CD rates with some of the other bank CD rates we have covered over the last few months to further research your available options.

This 3 month CD is, unfortunately, only available through tomorrow (June 1, 2009).

If you are unfamiliar with Ameriprise Financial, they are one of the largest financial planning institutions in the United States. They have been in business for 110 years and represent over 2 million individual, business and institutional clients (as of December 31, 2008) and reported $372 billion in assets owned, managed and administered.

The 3 month CD is not a common duration for CD’s, however, if you are looking for a short term investment, this may be your best bet.

I have contacted Ameriprise to see if this CD is FDIC insured. I didn’t seen the standard FDIC logo on their site, so this is still TBD. If you have experience in certificate of deposit investments with Ameriprise Financial please share your experience by leaving a comment.