You aren't going to get rich investing in CDs, but you can do a lot worse. The main cause of this is low interest rates. Still, here are the very best CDs available today, based largely upon greatest yield.
Greatest certificates of deposit No. 1 - Ally Bank
Ally was voted by Cash Magazine as the best online bank, in part due to the good CDs. With a 5 year CD, you can get a 1.59 percent APY, which is great. On top of that, you can 0.94 percent APY on a one year CD with no minimum required to open the account.
Nationwide Bank a great choice
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.
Go to OneWest Bank for a great deal
Without interest compounded every day at OneWest, you can get a fantastic deal. A one-year CD gets 1 percent APY while a five year gets 1.60 percent APY, though a $1,000 minimum is required.
Go to Bank of internet USA
While not quite as well known as the other banks on this list, Bank of Internet USA has highly competitive rates due to low overhead. Its 1-year cd has 0.80 percent APY with a $1,000 minimum opening. If you can wait for five years before your CD matures, then the APY will turn into 1.60 APY. In both cases, interest is compounded every day for maximum return.
What about EverBank?
Opening a CD will cost $1,500 for somebody at EverBank, but the bank has some of the very best consumer service in the industry. The bank offers 0.81 APY on one year CDs and 1.65 APY on five year plans.
Greatest certificates of deposit No. 1 - Ally Bank
Ally was voted by Cash Magazine as the best online bank, in part due to the good CDs. With a 5 year CD, you can get a 1.59 percent APY, which is great. On top of that, you can 0.94 percent APY on a one year CD with no minimum required to open the account.
Nationwide Bank a great choice
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.
Go to OneWest Bank for a great deal
Without interest compounded every day at OneWest, you can get a fantastic deal. A one-year CD gets 1 percent APY while a five year gets 1.60 percent APY, though a $1,000 minimum is required.
Go to Bank of internet USA
While not quite as well known as the other banks on this list, Bank of Internet USA has highly competitive rates due to low overhead. Its 1-year cd has 0.80 percent APY with a $1,000 minimum opening. If you can wait for five years before your CD matures, then the APY will turn into 1.60 APY. In both cases, interest is compounded every day for maximum return.
What about EverBank?
Opening a CD will cost $1,500 for somebody at EverBank, but the bank has some of the very 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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