Top CD Rates in Alaska

Alaska is the largest U.S. state by area and 48th by population.  Though the climate in Alaska can be brutally cold, there are banks in Alaska that are offering red hot CD rates to help compensate for the chill.  One bank in Alaska with above average CD rates is Alaska Pacific Bank.  Alaska Pacific Bank is a federally charted savings bank headquartered in Juneau, Alaska.

Alaska Pacific Bank lists a number of very competitive CD rates.  These include a 3 month CD with an interest rate of 1.80% APY.  A one year CD that has an interest rate of 2.50% APY, this CD rate is one of the highest one year CD rates in Alaska.  The bank also has an 18 month CD with an interest rate of 3.30% APY.  Alaska Pacific Bank also offers variable rate CDs.  CD terms are available from one year and 2 ½ years and unlimited additional deposits may be made at anytime, in any increment.  The one year variable rate CD ahs an interest rate of 2.55% APY and the 30 month variable rate CD earns an interest arte of 2.90% APY.  Both the fixed arte CDs and variable rate CDs require a minimum deposit to open the accounts of $2,000.  The bank offers additional savings products such as IRA’s, regular savings accounts and two money market accounts that feature tiered interest rates and limited check writing privileges. Interest rates on the money market account are tiered based on the daily balance.

For CD terms over one year, interest is compounded and credited annually and at maturity; for terms less than one year, interest is compounded and credited at maturity.  The daily balance method is used to calculate interest.  There are no account or set up fees; early withdrawal penalties may apply,

Alaska Pacific Bank offers more than just these savings products.  The bank provides a full range of banking services to individuals and businesses through its offices in Juneau, Ketchikan, and Sitka, Alaska.  The bank offers a broad array of business loans and is a leading SBA lender; is active in many types of consumer lending, including home equity loans, boat and vehicle loans; and is involved in land development and construction loans. Alaska Pacific Bancshares, the holding company Alaska Pacific Bank had $206.4 million in assets as of the third quarter 2008.

Interest rates listed are subject to change, the annual percentage yield in effect at the time the CD is opened is guaranteed through the maturity date, additional conditions may apply.  The bank can be reached at 907-790-5199.  The bank website is located at ww.alaskapacificbank.com.  Rates updated December 30, 2008.

This entry was posted on Tuesday, December 30th, 2008 at 9:57 pm and is filed under Bank Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.