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HOT DEAL: Earn Nearly 7% APY On 7-Month CDs Nationwide

Well, this is a startling first for me.

In the hundreds of Bankaholic posts I’ve written about national, regional and local CD deals over the last 15 months, the highest rate I’ve ever been able to tell our readers about is 4.00% APY.

And that deal was already quite an outlier.

Today, I have a completely astounding offer to share, as it pays not just upwards of 5%, but more than 6% – in fact, almost 7%.

Believe it or not, it gets even better. Instead of being limited to some small market of savers, anyone in the country can get their hands on this ridiculously great deal.

The promotion comes from NRL Federal Credit Union and pays 6.73% APY on a 7-month certificate.

Yes, you read all of that right. Click here to read more

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Earn 1.75% On 13-Month CDs From Tropical FCU In Florida

A new top rate for yearlong CDs has hit the market, and southern Florida savers are the lucky recipients.

Tropical Financial Credit Union is the sunny hero of the story, paying a substantial premium over the top nationally available 12-month yield of 1.36% APY from the banks on our CD Rates Leaderboard.

Tropical Financial’s certificate is for 13 months and pays an impressively higher 1.75% APY, with a $15,000 minimum investment of new money.

Take a look through Bankrate’s extensive database of the day’s best CD rates (always a smart move before committing to a CD) if you need further convincing that this is an excellent rate.

Of course, membership in Tropical Financial is required to get your hands on this hot deal, but millions of Floridians are eligible — and more than when we wrote about Tropical Financial last spring. Click here to read more

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Fed Holds Interest Rates Right Where They Are: In The Basement

The Federal Reserve once again shied away from raising interest rates Wednesday.

The decision means America’s long-suffering personal savers almost certainly won’t see a boost in today’s rock-bottom rates until at least June, when the Fed is next scheduled to meet.

What’s more, many analysts now believe the Fed, the nation’s bank for banks, may wait until as late as September to make its next quarter-point increase in a key interest rate.

In a statement released Wednesday, the Fed’s rate-setting committee indicated that it believes the U.S. economy is on solid overall ground but still sees a mixed picture.

“Labor market conditions have improved further even as growth in economic activity appears to have slowed,” the committee said. “Growth in household spending has moderated, although households’ real income has risen at a solid rate and consumer sentiment remains high.”

The Fed’s continued caution — some would say paralysis — has led to annual returns on certificates of deposit, money market and bank savings accounts below 1% in many cases.

Things were supposed to be better than this by now. Click here to read more

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Warsaw Federal Offers 1.52% On 18-Month CDs

The top nationally available rate for 2-year bank CDs is 1.55% APY, but in Cincinnati you can nearly outearn that rate — and with a shorter term to boot.

Warsaw Federal Savings & Loan Association is paying 1.52% APY on 18-month certificates of deposit, with a minimum $1,000 deposit.

The rate slots competitively between the top-billed 12- and 24-month returns from the banks on our CD Rates Leaderboard.

A search through Bankrate’s extensive database of the day’s best CD rates is always smart, but if you can find a return better than Warsaw Federal’s promotion, consider yourself lucky.

Anyone living or working Cincy’s tri-state area is eligible to open a CD with Warsaw Federal. However, a visit to one of its two Cincinnati branches is required. Click here to read more

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Wakefield Offers Worthy Deal On 30-Month CDs To Boston Savers

30-month cds

For Boston-area savers shopping mid-term CD deals, Wakefield Co-operative Bank is offering a winner.

The community bank is paying 1.65% APY on 30-month certificates, which slots nicely between the top nationally available 24-month yield of 1.55% APY from the banks on our CD Rates Leaderboard and the top national 36-month yield of 1.75% APY.

It’s also enough to earn Wakefield its first appearance in more than two years in our roundup of the nation’s top CDs from credit unions and community banks .

Any Massachusetts resident is eligible to bank with Wakefield. However, opening a certificate of deposit requires visiting one of its suburban Boston branches in Wakefield or Lynnfield.

A minimum $500 deposit is required. Click here to read more

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National 36-Month CD Leader Now Pays 1.75%

E-Loan is still setting the pace for 36-month CD yields, with a Friday increase that reclaimed some lost ground for the term.

The move by Popular Community Bank’s online portal has boosted the top nationally available 3-year bank return on our CD Rates Leaderboard from 1.67% to 1.75% APY.

E-Loan has been the 36-month national bank leader for almost nine months now, except for three weeks in March.

It captured the lead in late July, with a dramatic upgrade of its entire rate sheet that included 36-month certificates of deposit paying 1.85% APY.

But in January, it began dropping its rates in a series of steps, sinking its 36-month yield to 1.60% APY by mid-March and briefly abandoning the lead to other banks on our Leaderboard at 1.66% APY. Click here to read more

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Several Big Banks Offer Sweet Checking Bonuses Of $200 Or More

Checking account

As big banks lose their allure with consumers, some are fighting back by offering new customers generous bonuses for opening a checking account.

Millennials in particular are fed up with the high fees and poor customer loyalty programs associated with big banks.

In fact, 16% ditched big banks, a survey late last year by Accenture found. Credit unions and community banks cashed in, with community banks gaining 5% more customers between the ages of 18 and 34, while credit unions gained 3%.

It no doubt doesn’t help that only 37% of financial institutions surveyed by Bankrate in 2015 still offer free checking accounts. Most banks now have requirements, such as keeping a minimum amount in a checking account or receiving a certain amount in direct deposits each month, in order to have monthly maintenance fees waived.

The Bankrate survey found the average monthly maintenance fee is now nearly $6, and the most common fee is $12 a month.

But some of the big banks are sweetening the pot by offering checking account bonuses of $200 or more for new account holders.

Here are a few of the current checking account offers:

Click here to read more

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6 State Deal Pays 1.50% On 15-Month CDs

15-month cds

When I hunt for credit union and community bank CDs that beat the top national bank returns on our CD Rates Leaderboard, I obviously look for those that can serve as many of our readers as possible.

That means our favorites are, of course, nationwide offers or those that are available to a large swath of savers across multiple states or by far-reaching affiliation.

Every once in a while, I come across a deal that serves a seemingly niche category of saver, only to discover the reach is far wider than I might have guessed.

Beehive Federal Credit Union’s current offer of 1.50% APY on 15 months is one of those deals.

Membership in Beehive is available to members and employees of The Church of Jesus Christ of Latter-day Saints in the states of Idaho, Wyoming, Montana, Washington, Oregon and Nevada, as well as their family and household members. 

Even without including the state of Utah, that’s a sizable population of more than a million Americans who affiliate with the Mormon church.

Beehive’s 1.50% APY on 15-month certificates, which requires a $500 minimum deposit, offers a nice bump over the 1.36% APY you can earn from the top nationally available 12-month yield on our Leaderboard. Click here to read more

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Crescent Bank Offers Hot CD Deals In Louisiana

Once or twice a year, we can’t help but feature Crescent Bank.

That’s because the New Orleans bank frequently offers not just a single competitive CD but a full menu of noteworthy offers.

This spring is no exception, with Crescent currently paying:

  • 1.81% APY on 36 months.
  • 1.91% APY on 48 months.

On our CD Rates Leaderboard of the top nationally available bank yields, the 36-month leader is paying just 1.67% APY, while 1.85% APY is the most you can earn on 48 months.

This earns Crescent two spots in our constantly updated roundup of the best-paying CDs from credit unions and community banks across the country, and Crescent’s 60-month rate of 2.27% APY almost earns them a third, since that ties the top nationally available 5-year yield. Click here to read more

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