Best CD Rates – September 2018
CD is a saving account defined as a ‘Certificate of Deposit’. However, credit unions address it as ‘Share Certificate’. It is one of the traditional and safest modes of investment without any risk of variations in the stock market. It’s like you choose a fixed amount of money that you plan to invest for a set period. In return, the bank or the credit union wherever you put the investment, pay you the pre-defined rate of interested on your deposited amount. The more extended the period of investment, higher is the interest rate. However, every bank and unions have their philosophies of concluding a specific percentage of interest for various periods.
It is always a wise decision to research and verify the interest rate and the period before you make an actual investment in a CD. For your convenience and ease of taking the right decision, here are some of the banks and credit unions that offer the most competitive CD rates to help you accomplish your financial goals.
Connexus Credit Union
Minimum Deposit: $5,000
Annual Percentage Yield (APY): 2.50%
All the share certificates issued by Connexus’ have impressive rates of interest with an APY of 2.50% and a return of 3.25% for five years. From an investment perspective, you can opt to go for this deposit with a thoughtful amount. However, applying to this is a challenge, but you can still ease the process by a one-time donation of $5 to the Connexus Association that works for charity.
Barclays
Minimum Deposit: No Minimum Deposit Requirements
Annual Percentage Yield (APY): 2.45%
Barclays is a Member of FDIC with the most competitive saving account beholding the highest APYs on the market. The five-year option sounds to be most alluring with APY of 3.00%. However, there are other viable options as well as to explore and discover.
Synchrony Bank
Minimum Deposit: $2,000
Annual Percentage Yield (APY): 2.45%
Synchrony Bank is an excellent choice for customers concerning online bank accounts with clear segregation of their spending and saving amount. The bank is FDIC insured and offers an APY of 2.85% for a five-year deposit plan.
Citizens Access
Minimum Deposit: $5,000
Annual Percentage Yield (APY): 2.50% APY
Citizens Access with a wide choice of high-yield CDs stands to be as a top competitor in the market. The bank offers APY of 2.50% for one year and APY of 3.10% for a five-year CD. The bank provides a smarter online saving facility to help you reach your financial goals faster.
Capital One 360
Minimum Deposit: No Minimum Deposit Requirements
Annual Percentage Yield (APY): 2.45% APY
Capital One 360 is an FDIC insured bank with rewarding saving and checking accounts for customers to keep and manage all their money under one shelter. The bank offers a contending CD option with an APY of 3.00% for five years and an APY of 2.40% for one year.
Marcus by Goldman Sachs
Minimum Deposit: $500
Annual Percentage Yield (APY): 2.40% APY
Marcus is a banking partner of the FDIC insured Goldman Sachs Bank in the USA. The branch takes care of all your financial handlings and goals with impressive rates. It offers a one-year CD with an APY of 2.45% APY and five-year with an APY of 3.00%.
CIT Bank
Minimum Deposit: $1,000
Annual Percentage Yield (APY): 2.50% APY
CIT Bank is a US commercial bank subsidy of CIT group with a vast variety of high-yielding saving and investment options. The bank offers various options for CDs with award-winning rates that are alluring and competitive in the market. All you have to do is decide how much and how long to invest.
TIAA Bank
Minimum Deposit: $5,000
Annual Percentage Yield (APY): 2.50% APY
Tiaa Bank is a financial service provider with better banking experience and high yielding accounts. The bank offers excellent choices to customers concerning Certificate of Deposits with automatic rollover and 20 days advance alerts in case of maturity. The bank offers an APY of 3.05% for five-years.
