During this continued mess throughout financial asset returns there remains a beacon of light provided by CD rates.  Great bank CD rates, in spite of everything, are still available.  Presumably, the chaos in the credit market is the impetus behind the highest CD rates available.  While that may be the underlying force as to why these rates exist, CD rates that have the backing of FDIC insurance provide a great short term rate of return, guaranteed safety of principal and do to their short term structure – a modest level of liquidity.  We have compiled a short list of the best CD rates with a term of one year that have interest rates of 4.00% or greater.  The vast number of banks on the list is startling.

State Bank of India is at 4.32% on a one year CD with a deposit of $5,000.00 or greater.

AIG Bank has their one year CD rate at 4.26% on deposits greater or equal to $2,500.00

Sovereign Bank is promoting a one year CD with an interest rate of 4.25% on deposits of $500.00.

E Loan offers a rate on their one CD of 4.25% with a $10,000.00 minimum deposit.

GMAC Bank is promoting an interest rate of 4.25% on a one year CD with a $500.00 minimum deposit.

Corus Bank has a one year CD with a minimum deposit of $10,000.00 yielding 4.25%.

Flagstar Bank has an internet promotional one year CD at 4.25% with a minimum requirement of $500.00.

Centennial Bank requires a minimum deposit of $10,000.00 to reach the yield on their one year CD of 4.18%.

Pacific Mercantile Bank offers a one year CD with a yield of 4.11% with a minimum deposit of $10,000.00.

La Jolla Bank has a one year CD rate of 4.10% on deposits of $10,000 or larger.

Umbrella Banks one year CD is at 4.10% interest rate with $1,000.00 minimum deposit.

Mutual Bank offers an interest rate of 4.10% on a one year CD with a deposit of $2,500.00.

EverBank offers a one year CD with a rate of 4.00% and a minimum deposit of $1,500.00.

Ing Direct is at 4.00% interest rate on their one year CD with a $1.00 minimum deposit.

Tomorrow we will run an udate of bank CDs over 4.00% with terms less than one year.
Rates updated as of November 18, 2008.  Rates subject to change without notice.  Contact a representative at the bank of choice for any additional restrictions on these accounts.

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