Best Certificate of Deposit Rates (CD Rates), June 2009
The following is a list of the nationally available highest yields 12-month CD rates. In general, certificates of deposit (CDs) are great investments because your principal is protected by FDIC insurance and your interest rates are guaranteed. Moreover, you can use CD Ladder to make your CD savings more flexible and effective.
You can open certificates of deposit at your local bank, but with a little more effort you can secure the best rates.
As of 6/9/2009, the highest yield CDs are:
| Bank | Rate (APY) | Min Deposit |
|---|---|---|
| Ally Bank High-Yield CDs | 2.35% | $0 |
| Stonebridge Bank | 2.35% | $500 |
| Corus Bank | 2.35% | $10,000 |
| Ascencia, a div. of PBI Bank | 2.34% | $500 |
| Nexity Bank | 2.31% | $1,000 |
| AIG Bank | 2.31% | $2,500 |
| Discover Bank | 2.30% | $2,500 |
| newDominionDIRECT.com | 2.30% | $3,000 |
| UmbrellaBank.com | 2.25% | $1,000 |
| OneWest Bank, FSB | 2.25% | $5,000 |
| Advanta Bank Corp. | 2.25% | $10,000 |
| Bank of Internet Certificates of Deposit | 1.50% | $1,000 |
If you are looking for different length CD, I recommend that you use MoneyAisle to find help your find the best CD rates for your desired term.
Alternative Savings And Investment Options
In addition to high yield savings accounts, there are other alternatives that may work for you.
Lending Club (average 9.92% APY*)
Lending Club is a social lending network where you can invest in individual loans with as little as $25. The specific interest rate depends on the quality of loan you are investing in. Currently, the average return on investment is 9.05% APY. To learn more about peer lending, please read Introduction to Peer-to-Peer Lending.
* IMPORTANT: Please note that there are special risks associated with social lending.
Please review information associated with each offer before you sign up. Rates and conditions change constantly and I have reported what I believe to be the most accurate information at the time the article was updated.
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