Village Bank CD Rates: 20% higher than national average
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Village Bank, based out of Richmond, Virginia, is offering some fairly decent CD (certificate of deposit) rates as of this week. Unfortunately for most of us, however, these products are only available to those residing within their community.
Some of their deposit products which are beating the national averages by the highest margins are: a 6 month CD yielding 1.36% APY with a minimum deposit of a $1,000 required, a 12 month CD yielding 1.71% APY with a minimum deposit of $500 required, and a 3 year CD yielding 2.68% APY with a minimum deposit of $500 required. The national averages for 6 month, 1 year and 3 year CDs are 0.89% APY, 1.31% APY, and 2.05% APY respectively.
Village Bank’s Current CD Rates:
| Minimum Openings Deposit | Interest Rates | Annual Percentage Yield | |
| 1 Month Certificate | $1,000.00 | 1.10% | 1.10% |
| 3 Month Certificate | $1,000.00 | 1.15% | 1.16% |
| 6 Month Certificate | $1,000.00 | 1.35% | 1.36% |
| 9 Month Certificate | $1,000.00 | 1.50% | 1.51% |
| 12 Month Certificate | $500.00 | 1.70% | 1.71% |
| 12 Month No Penalty Certificate (1 Withdrawal No Penalty) |
$15,000.00 | 1.25% | 1.26% |
| 15 Month Certificate | $500.00 | 2.05% | 2.07% |
| 18 Month Certificate | $500.00 | 2.10% | 2.12% |
| 21 Month Certificate | $500.00 | 2.15% | 2.17% |
| 24 Month Certificate | $500.00 | 2.25% | 2.28% |
| 30 Month Certificate | $500.00 | 2.40% | 2.43% |
| 36 Month Certificate | $500.00 | 2.65% | 2.68% |
| 37 Month Certificate | $1,000.00 | 2.70% | 2.74% |
| 48 Month Certificate | $500.00 | 2.80% | 2.84% |
| 60 Month Certificate | $500.00 | 3.00% | 3.04% |
To find an optimal product, compare the above CD rates with the best CD rates in Virginia.
Village Bank’s footprint within the community:
- Employees get two days paid time off each year to donate their time and resources to community projects of their choosing.
- Village Bank created the Village Bank High School Scholarship program that offers $2,500 scholarships to outstanding high school students interested in continuing their education.
- Their green initiative includes installing recycling bins at all of their locations, moving their customers towards using electronic statements instead of paper ones and instituting a recycling program for all of their employees both at the branches and at their offices to reduce waste going to landfills.
February 2nd, 2010 at 3:58 pm
Why dont some of these banks just open online branches and take deposit money from people like me from any state in the country? sheesh