Bank Vibe » 6 month CD

Best 6 month CD rates in New Jersey doubling the national avg.

BankVibe — Wed, 03 Nov 2010 09:40:47 +0000

Although short term CD rates are historically low these days, you can still find relatively lucrative APYs if you take the time to scour your state for the best CD rates. We’ve found that – generally speaking – most people will simply plop the money they intend to invest in FDIC insured savings accounts into any sort of vehicle their current bank recommends, however, if you want to maximize your returns you may want to shop around at other banks and credit unions for higher returns. Small community banks and credit unions (as well as online banks) are most likely going to be your best bet for interest rates. Community credit unions are not-for-profit, member owned institutions which pass any profits back to their customers or “owners” in the form of higher savings rates (and lower loan rates). Online banks can generally offer higher interest rates as well due to their lack of overhead expenses by not keeping any brick and mortar branches on their books.

Today, we’d like to provide an example of an institution offering a 6 month CD with an interest rate that is currently doubling the national average. Public Service Federal Credit Union (out of Middlesex, New Jersey) has a six month CD yielding 1.27% APY. To put this offer in perspective, the national average for 6 month CDs is just 0.65% APY. And even though this product is only available to residents in New Jersey, these hidden gems can be dug up in many states throughout the country. Use our CD rate database to find the best offers in you area or scroll through our archives to get a better feel for what’s available near you.

Complete List of CD Rates offered through Public Service FCU (New Jersey):

(Rates accurate as of 11/2010. Visit psfcunj.com for updated rates.)

- 6 month CD yielding 1.27% APY with a minimum deposit of $1,000 required.

- 12 month CD yielding 1.53% APY with a minimum deposit of $1,000 required.

- 2 year CD yielding 2.05% APY with a minimum deposit of $1,000 required.

- 3 year CD yielding 2.15% APY with a minimum deposit of $1,000 required.

- 4 year CD yielding 2.25% APY with a minimum deposit of $1,000 required.

- 5 year CD yielding 2.36% APY with a minimum deposit of $1,000 required.

Compare these rates with other CD rates in New Jersey.

Phenomenal 6 month CD rates available in Maryland

BankVibe — Fri, 22 Oct 2010 18:23:04 +0000

Thanks to BankVibe.com reader Justin for tipping us off on some incredible 6 month CD rates being offered through his local credit union in Maryland. Currently, if eligible to join First People’s Community Federal Credit Union (Maryland), you can take advantage of a 6 month CD (share certificate) yielding a whopping 1.50% APY on deposits of at least $500. To put this offer in perspective the national average for 6 month CDs (certificates of deposit) is currently yielding just 0.65% APY.

One word of caution – their rate page has not been updated since April of this year, so these rates may be due for a change at anytime considering the national average for CD rates has dropped since then.

Eligibility Requirements for First People’s Community Federal Credit Union:

Unfortunately for most of us, these CD rates aren’t available as First Peoples Community Federal Credit Union serves any person(s) who live or work in Allegany County, Maryland, Garrett County, Maryland, Somerset County, Pennsylvania or Mineral County, West Virginia. Membership is also available to Verizon employees that headquartered in the counties of Frederick, Washington, Allegany, and Garrett in Maryland.

Complete list of CD rates offered through FPCU in Maryland:

- 6 month CD paying 1.50% APY with dividends compounded daily and paid quarterly.

- 12 month CD paying 1.75% APY with dividends compounded daily and paid quarterly.

- 18 month CD paying 1.85% APY with dividends compounded daily and paid quarterly.

- 2 year CD paying 2.00% APY with dividends compounded daily and paid quarterly.

- 3 year CD paying 2.40% APY with dividends compounded daily and paid quarterly.

- 4 year CD paying 2.50% APY with dividends compounded daily and paid quarterly.

- 5 year CD paying 2.60% APY with dividends compounded daily and paid quarterly.

Compare these rates with other CD rates in Maryland.

Cascade Bank’s CD Rates and Promotional Offers

BankVibe — Sun, 11 Jul 2010 10:45:38 +0000

Cascade Bank, based out of Washington state, has a few noteworthy CD rate promotions for 6 month and 12 month terms. Other than those promotions their savings rates are somewhat lackluster – in fact, most sit significantly below the national average.

Cascade Bank has branches throughout the Pacific Northwest and can accept local funds. They were chartered in 1916, and they are the oldest financial institution headquartered in Snohomish County, Washington. Cascade Bank claims to have navigated that region’s history’s highs and lows right along with their customers, changing and growing together. Their claim to fame has always been their customer service and their slogan – “Real People. Real Attention” – reiterates that fact.

CD Rates and Promotions offered through Cascade Bank:

- 3 month CD yielding 0.10% APY and 0.30% APY depending on deposit amount.

- 6 month CD SPECIAL yielding 1.00% APY and 1.25% APY depending on deposit amount.

- 9 month CD yielding 0.25% APY and 0.50% APY depending on deposit amount.

- 12 month CD SPECIAL yielding 1.35% APY and 1.60% APY depending on deposit amount.

- 18 month CD yielding 1.15% APY and 1.40% APY depending on deposit amount.

- 24 month CD yielding 1.45% APY and 1.70% APY depending on deposit amount.

- 36 month CD yielding 1.75% APY and 2.00% APY depending on deposit amount.

- 5 year CD yielding 2.25% APY and 2.50% APY depending on deposit amount.

Like all bank rates, these are time sensitive in nature. Please refer to the date of this article for accuracy. Check out our CD rates page for current rates available in your area.

Fifth Third Bank CD Rate “Promos”

BankVibe — Sun, 30 May 2010 07:01:17 +0000

Fifth Third Bank, based out of Cincinnati, Ohio, currently has some CD rate promotions going on at a few of their Michigan branches (other branches may be included as well). Don’t get too excited over these “promos” though as it just seems to be wording ploy to entice customers to sign up. The rates are average (at best) and require a $5000 minimum deposit. Many online banks will provide much better rates than these so-called promos and require much less to invest.

-As a side note Fifth Third Bank was recently mentioned as one of the “least trusted banks in the United States.”

About Fifth Third Bank:

Fifth Third is one of the top 20 largest banks in the country. They serve the Midwest and Southeast portions of the United States.

The Company has $120 billion in assets, operates 18 affiliates with 1,307 full-service Banking Centers, including 92 Bank Mart locations open seven days a week inside select grocery stores and 2,341 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina.

Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisers and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2008, has $179 billion in assets under care, of which it managed $25 billion for individuals, corporations and not-for-profit organizations.

The bank received $3.4 billion from the U.S. Treasury as part of its Troubled Asset Relief Program in 2008.

In 2008, the company reported a net loss of $2.2 billion due to loan problems and lower market values.

Current CD Rate Promotions offered through Fifth Third Bank:

- 8 month CD “promo” rate yielding 0.50% APY with a minimum deposit of $5,000 required.

- 13 month CD “promo” rate yielding 0.90% APY with a minimum deposit of $5,000 required.

- 24 month CD “promo” rate yielding 1.25% APY with a minimum deposit of $5,000 required.

- 36 month CD “promo” rate yielding 1.75% APY with a minimum deposit of $5,000 required.

- 60 month CD “promo” rate yielding 2.75% APY with a minimum deposit of $5,000 required.

To put the above offers in perspective, the national average for 6 month CD rates sits at roughly 0.80% APY, the national average for 1 year CD rates sits at roughly 1.18% APY and the national average for 3 year CD rates sits at roughly 1.98% APY.

Prairie National Bank offers top short term CD Rates

BankVibe — Mon, 24 May 2010 18:00:35 +0000

Prairie National Bank, based out of Illinois, has a few short term CD rates that demolish the current national average for their respective durations. They also have a promotional 9 month CD and 15 month CD which are available for a limited time.

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:

91 day CD*	$2500	1.25 %	1.26 %	1.26 %	NA	NA
182 day CD*	$2500	1.40 %	1.41%	1.41%	1.40 %	NA
12 month CD*	$500	1.65 %	1.66%	1.66%	1.66 %	1.65%
18 month CD^	$500	1.90 %	1.92%	1.91%	1.91 %	1.90%
24 month CD^	$500	2.10%	2.12%	2.12%	2.11%	2.10%
30 month CD^	$500	2.35%	2.38%	2.37%	2.36%	2.35%

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.

Best 6 month CD rates in California beat national avg by 85%

BankVibe — Sun, 11 Apr 2010 21:55:17 +0000

Although we have seen six month CD rates rise a bit recently – perhaps due to the rapid increase in mortgage rates over the last two weeks - we’re still seeing the top 6 month CD rates in California ahead of the national average by nearly 85%. As of last Friday, 6 month CD (certificate of deposit) averages were nearing 0.81% APY, and one bank in California is offering nearly 1.50% APY on their 6 month CDs if you can manage a deposit of $5000.

United Pacific Bank, a small bank based out of the City of Industry, California is offering new and existing customers a 6 month CD yielding 1.48% APY. The rates associated with their deposits are actually set up in tiers. You can earn the 1.48% APY on deposits from 180 – 364 days. If you opt for a 1 year CD (or a CD maturing between 365 days to 17 months) you can earn 1.68% APY. The national average for 12 month CDs sits at roughly 1.20% APY.

United Pacific Bank is a private commercial bank specializing in commercial and international banking products for emerging middle-market companies. Their primary business and areas of expertise (as they refer to it) include corporate commercial banking, real estate finance, small business administration and corporate finance.

Branch Locations and Contact Info:

1630 S. Azusa Ave.
City of Industry, CA 91748
Tel: (626) 965-6230 begin_of_the_skype_highlighting (626) 965-6230 end_of_the_skype_highlighting
Fax:(626) 965-2840

101 W. Garvey Ave.
Monterey Park, CA 91754
Tel: (626) 312-2080 begin_of_the_skype_highlighting (626) 312-2080 end_of_the_skype_highlighting
Fax:(626) 312-2088

Some small credit unions still paying 1.80% APY on 6 mo CDs

BankVibe — Thu, 14 Jan 2010 18:23:11 +0000

If you’ve been in the market for short term certificate of deposits for a while now then I’m sure there isn’t much need for us to iterate the current state of their rates, however for those whom are just entering the marketplace – please realize rates are FAR from decent. If you’ve been scanning through some of the larger national banks’ rate pages for 6 month CDs, 12 month CDs or even 18 month CDs you’ve probably noticed rates being offered at or around 1.0% APY. Our advice would be to consider a credit union, mainly small and exclusive ones, that you may be able to join. Just be sure it’s insured by the NCUA (FDIC equivalent for credit unions).

Here is an example of one tiny-little credit union out of Lenoir County, North Carolina which is currently offering between 1.76% and 1.81% APY on six month CDs. The national average for 6 month CDs currently sits at a pathetic 0.95% APY.

If you deposit between $1,000 and $99,999 into one of Carolina Family Credit Union’s 6 month CDs you will earn 1.76% APY and if you can make this a jumbo CD (ie depositing $100,000 or greater) you can earn 1.81% APY on your deposit.

Carolina Family Credit Union only has one branch and it’s in Lenoir County, North Carolina. They were originally chartered in December of 1975 as Dupont K.P. Employees Federal Credit Union and now operate under their current name; Carolina Family Credit Union. Their single office is located in Kinston, NC after their second office was closed down in 2005. Anyone who lives, works, worships or attends school within Lenoir County is eligible for membership. You may also be eligible if you happen to have family located within the county.

For the top rates in this state you may want to compare this offer to the best CD rates in North Carolina.

Thanks to BankVibe reader Glen for giving us the heads up on this sweet little offer by such a sweet little credit union!

Top 6 month CD rate in Ohio crushing national average!

BankVibe — Tue, 05 Jan 2010 21:20:33 +0000

If you happen to reside in the state of Ohio and are in the market for a six month CD, you’re in luck! Steel Valley Federal Credit Union, based out of Warren Ohio, has a 6 month CD yielding 2.12% APY with a minimum deposit requirement of only $500. To put their offer in perspective, the current national average for 6 month certificate of deposits is only 1.03% APY.

How to Join SVFCU…

Complete a membership card designating a single or joint membership and forward it to Steel Valley Federal Credit Union Office, along with a check for $10.00 which will be deposited into your share savings account. Every member must maintain a minimum balance of $50.00 to retain membership. Once you become a member, you may remain a member even if you leave employment in the Field Of Membership, retire or move away from the area. Once a member, always a member at SVFCU!

Complete List of CD Rates…

CERTIFICATE		RATE	APY

3 MONTHS	$500.00 Minimum	1.85%	1.86%
6 MONTHS	$500.00 Minimum	2.10%	2.12%
12 MONTHS	$500.00 Minimum	2.15%	2.17%
18 MONTHS	$500.00 Minimum	2.35%	2.37%
24 MONTHS	$500.00 Minimum	2.45%	2.47%
36 MONTHS	$500.00 Minimum	2.60%	2.63%
48 MONTHS	$500.00 Minimum	3.10%	3.14%
60 MONTHS	$500.00 Minimum	3.30%	3.34%

Compare this with other CD rates in Ohio and you’ll see this offer sets the bar fairly high. SVFCU has a presence (either ATM or physical branch) within all of the major cities in Ohio (Cleveland, Cinncinati, Akron, Columbus, etc).

Best 6 month CD rates in New Jersey found at First Choice Bank

BankVibe — Sat, 19 Dec 2009 20:48:42 +0000

The top 6 month CD rates in the state of New Jersey can currently be found at First Choice Bank. With a minimum deposit of $1,000 you can lock in a six month CD with a yield of 1.61% APY. The national average for 6 month certificate of deposits currently sits at 1.02% APY (to put this offer in perspective).

First Choice Bank has three locations in New Jersey. They have branches in Lawrenceville, Hamilton and (as of recently) Robbinsville, New Jersey.

As a side note, First Choice Bank has chosen not to participate in the FDIC’s Transaction Account Guarantee Program. And customers of First Choice Bank with noninterest-bearing transaction accounts will continue to be insured through December 31, 2009 for up to $250,000 under the FDIC’s general deposit insurance rules.

You’re deposits, however, are and will continue to be insured by the FDIC.

Some other noteworthy deposit rates offered by First Choice Bank:

9 month CD yielding 1.75% APY with a minimum deposit of $1,000 required.

12 month CD yielding 1.99% APY with a minimum deposit of $1,000 required.

18 month CD yielding 2.00% APY with a minimum deposit of $1,000 required.

24 month CD yielding 2.25% APY with a minimum deposit of $1,000 required.

3 year CD yielding 2.50% APY with a minimum deposit of $1,000 required.

* An early withdrawal will reduce the earnings in which your CD rates provides. All deposits offered through First Choice Bank are federally insured by the FDIC.

Best 1 year CD rate found at North Carolina bank

BankVibe — Sun, 13 Dec 2009 20:41:57 +0000

BankVibe reader Glenn tipped us off on a fantastic certificate of deposit product being offered through the Bank of Granite in North Carolina. Currently, they are paying out 2.45% APY on 12 month CDs with a minimum deposit of $5,000 required. To put this offer in perspective, the national average for 1 year CD’s sits at roughly 1.55% APY.

Bank of Granite is member FDIC and imposes a fee for early withdrawal on their deposit products. (Penalty is six months of the accumulated interest)

After digging through the rest of Bank of Granite’s savings rate promotions, we found two additional products which definitely deserve mentioning…

They have a 6 month CD yielding 1.75% APY with a minimum deposit of $5,000 required. The current national average for six month CD’s sits at roughly 1.05% APY.
They also have a “premium money market account” which is yielding 1.50% APY on balances of $15,000 or greater. The national average for money market rates sits at 1.03% APY

Bank of Granite serves Western North Carolina from the Piedmont to the Mountains with 20 offices in eight counties. They have locations in Catawba County, Caldwell County, Burke County, Mecklenburg County, Watauga County, Wilkes County, Forsyth County, and Iredell County.

A couple months ago we made note of the best CD rates in North Carolina and BankVibe reader Glenn left a comment noting that he has called the bank and confirmed this deal.