The Best CD Rates Around|Best Cds For The Novice Investor
Even though high yield isn't really very high anymore, you'll still need the very best rate of return available when you invest in a certificate of deposit. Your high-yield CD should also have an optimum load of features, from the right period of term and minimum deposit to most frequent interest compounding and other advantages like rate bumping and no withdrawal penalty. The following banks offer some of the very best certificates of deposit when judged by these requirements.
First off is Ally Bank
You can get 0.94 percent interest on a one-year CD at Ally that is compounded at the optimal daily rate. There is no minimum required in the account and renewal can set as the CD reaches maturity. If you would like a 5-year CD, you can get 1.59 percent APY, according to Cash Magazine.
Go to Nationwide Bank for an option
The CD goods at Nationwide are pretty amazing. In fact, you can get 1 percent APY on a one-year CD with no minimum deposit. You can get better rates with a 5-year CD at 1.80 APY. Anything over $100,000 gets an even better deal.
Best certificates of deposit No. 3 - OneWest Bank, FSB
You need at least $1,000 to open a CD for 1 year at OneWest, but you can get 1 percent APY on it. For five years, you get 1.60 APY. These are all compounded daily, so that is great.
Next might be Bank of Internet USA
Interest is compounded daily at Bank of Internet USA that offers 0.80 percent APY for a 1-year CD and 1.60 percent APY for a five year plan.
Head to EverBank
Opening a CD will cost $1,500 for somebody at EverBank, but the bank has some of the best consumer service in the industry. The bank offers 0.81 APY on one year CDs and 1.65 APY on five year plans.
First off is Ally Bank
You can get 0.94 percent interest on a one-year CD at Ally that is compounded at the optimal daily rate. There is no minimum required in the account and renewal can set as the CD reaches maturity. If you would like a 5-year CD, you can get 1.59 percent APY, according to Cash Magazine.
Go to Nationwide Bank for an option
The CD goods at Nationwide are pretty amazing. In fact, you can get 1 percent APY on a one-year CD with no minimum deposit. You can get better rates with a 5-year CD at 1.80 APY. Anything over $100,000 gets an even better deal.
Best certificates of deposit No. 3 - OneWest Bank, FSB
You need at least $1,000 to open a CD for 1 year at OneWest, but you can get 1 percent APY on it. For five years, you get 1.60 APY. These are all compounded daily, so that is great.
Next might be Bank of Internet USA
Interest is compounded daily at Bank of Internet USA that offers 0.80 percent APY for a 1-year CD and 1.60 percent APY for a five year plan.
Head to EverBank
Opening a CD will cost $1,500 for somebody at EverBank, but the bank has some of the best consumer service in the industry. The bank offers 0.81 APY on one year CDs and 1.65 APY on five year plans.
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