Compare the highest CD rates in RI. Find Rhode Island CD rates from short term rates to long term rates. Search and compare the best CD rates in RI. 6 month Rhode Island CD rates, 1 year Rhode Island CD rates, 2 year Rhode Island CD rates and 5 year CD rates in Rhode Island reviewed.

Best CD Rates in Rhode Island July 2017

While most personal finance websites promote the highest CD rates available at the big online banking institutions, savers in Rhode Island can find a number of competitive certificate rates with local FDIC insured, financial institutions.

Certificates of deposit can be effective savings tool for a variety of savers including, those that are seeking fixed income returns to those that are looking to diversify their portfolio in an uncertain economic environment.

Below is a list of the top yielding CDs from banks with branch offices in Rhode Island.  Savers that are looking for short-term investment options may want to consider a six-month CD from a local Rhode Island bank while those with a longer term time horizon may want the higher interest rates that come with a five year term certificate.  Either account choice is a low risk opportunity available from an FDIC insured bank with competitive interest rates and local service.

For short term savings options, The Washington Trust Company offers an
8 month CD with a 0.80% interest rate and a $500.00 minimum deposit requirement while Independence Bank of East Greenwich, RI has a 5 month CD with a 0.65% rate and a $1,000.00 opening deposit requirement.

In the mid-term category, local savers will find a 15 month CD at Rockland Trust that has a $1,000.00 minimum deposit requirement and a 1.25% Annual Percentage Yield.  With a little longer term to maturity, Washington Trust Co has an 18 month certificate that earns 1.80%.  All Wash Trust promotional CDs require an active checking account with the bank.

While some local banks in RI offer two and three years CDs with competitive rates, the next big jump in yield comes from the longer maturing, five year accounts.  Washington Trust promotes a 5 year Bump Up certificate with a 2.25% yield.  Coastway Community Bank based in Providence, RI markets a slightly shorter maturing, 57 to 60 month term CD with a 2.05% rate of return.

More terms and rates are available.  CD withdrawals before maturity date will reduce the APY earned and early withdrawal penalties may be imposed.  Fees may reduce earnings.  See a local banker from the list above for details on all offers.  Rates are for a limited time only and are subject to change at the bank’s discretion.  Additional terms and conditions may apply.

CD Rates in RI with Independence Bank

Rhode Island CD rates at Independence Bank.  Independence Bank is an FDIC insured bank based in RI.  Independence Bank offers personal and commercial banking services in the Ocean State.

Independence Bank is a full service bank based in East Greenwich, RI.  As a locally operated bank, Independence Bank provides local service, competitive rates and a wide array of products for business and personal needs.

For consumers in the area looking for a place to hold their savings or investment funds, Independence Bank offers a number of deposit and savings products.  Financial products for savings and investments for both short term and long term options that are available at Independence Bank include interest bearing checking accounts, savings accounts and certificates of deposits.
Bank CDs come with a $1,000.00 opening deposit for traditional accounts and $100,000.00 for jumbo CDs.  Interest accrued on the CDs may be paid monthly by check or transferred to another bank account or paid at maturity with the original principal amount of the CD.

Bank CDs in RI come in terms from 3 to 60 months.  The CD rate in RI is a fixed interest rate with a fixed term.

Current CD rates in Rhode Island offered by Independence Bank include the following:

5 month RI CD rate is 1.25%
11 month CD has an interest rate of 1.50%
15 month bank CD rate in RI is 1.75%
24 month CD with an interest rate of 2.00%
36 month bank CD rate in RI of 2.25%
48 month CD interest rate is 2.50%
60 month bank CD rate in RI of 3.25%

Bank rates and CD rates offered by Independence Bank are subject to change at any time prior to opening an account.  CD interest rates listed are current as of this publication but are not guaranteed. 

For current RI CD rates promoted by Independence Bank as well as information on bank account terms and conditions, a bank representative can be reached at either 401-886-4600 or 888-824-8873.