While certificate of deposit ( CD ) rates continue to drop this year more bank are offering promotional CD rates to attract depositors. Short term CDs that are frequently for odd maturities or terms.
Most web sites that track the highest national CD rates exclude odd term bank CDs. At Selectcdrates.com the odd term CDs are included in the state CD rate tables but are excluded from the national CD rate tables to provide the reader with data that is readily comparable to competing bank rate providers.
Odd term CDs are generally considered CDs that mature in odd months rather than traditional quarterly and semi-annual maturities. The terms can literally be odd, such as 7 months or 13 months but an 8 month CD is also an odd month CD since it matures outside of a quarter or semiannual period.
This week’s best odd term bank CDs available nationally include:
Apple Bank’s Grand Yield Direct 7 month CD has a yield of 1.40%. The highest six month CD rate available nationally is currently at 1.36% and the average of the top ten highest CD rates is 1.29%. The Grand Yield account stands out as the best short term CD rate available nationally.
This account is part of the online banking services of Apple Bank. The minimum investment for this bank CD is $5,000.00. The bank also offers the Grand Yield Direct Savings account that has a top yield of 1.25%.
The bank CD account can be opened online or by mail. The one condition for the account is that customers must be a Grand Yield Direct Savings customer with funds on deposit for at least 30 days. The savings account rate is in the top 10 available nationally and has no hidden costs, maintenance charges or penalties and requires $2,500.00 to open the account and $1.00 on deposit to earn interest. The bank can be reached at 1-800-588-5871.
Choice Financial Group markets a CD along with a separate money market account called the RateBuilder account. This is an online CD that has 13 month term and an interest rate of 1.65%. The minimum opening balance is $5,000.00 for the account.
This rate is about the mid point for the top ten highest one year CD rates available. Choice Financial can be reached at 1-877-380-3623.
Goldwater Bank in Arizona has 15 month term CD that is at 1.68%. Goldwater Bank, NA, is headquartered in Scottsdale, Arizona and offers the CD accounts online in any state. The Goldwater Bank minimum deposits are a steep $50,000.00. A Goldwater Bank personal banker can be reached at 480-281-8200.
A fourth notable odd term CD offer comes from Century Bank Direct which is the online banking division of Century Bank of Kentucky. Century Bank Direct promotes four odd term CDs: a 5 month CD at 1.10%, a 10 month CD with a rate of 1.35%, a 15 month term CD with an interest rate of 1.55% and a 20 month CD with a rate of 1.75%. The minimum opening deposit for the accounts is $1,000.00. Century Bank Direct can be reached at 1-877-444-2259.
Tags: bank CDs, CD rates, certificate of deposit, highest CD rates, highest six month CD rate, money market account, odd term CD, one year CD rates, online banking
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