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Five Banks Offer The Holiday’s Best MMAs

If you’re looking for a safe place to park your cash while the Federal Reserve continues to drag its feet over raising interest rates, take a look at our Money Market Accounts Leaderboard.

hands holding a pink piggy bank

You’ll find five nationally available MMAs paying 1.10% APY — or a little more.

EverBank pays a bonus rate of 1.60% APY for the first six months and 0.61% APY after that, for a blended annual return of 1.11% APY.

A couple of affiliated banks from Oklahoma — All America Bank and Redneck Bank — are paying 1.25% APY.

iGobanking and The Dime Savings Bank of Williamsburgh pay 1.10% APY.

Which one’s right for you? Click here to read more

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Buy Or Refinance With A 5-Year ARM From Nationwide For Just 3.00% With No Points

Nationwide is offering one of November’s best deals on 5-year adjustable-rate mortgages to borrowers throughout the nation.

It’s charging borrowers an introductory rate of just 3.00%, with no points and $1,217 in fees for purchase or refinance and a 60-day rate lock.

That’s nearly two-fifths of a percentage percentage point lower than the national average for 5/1 ARMs — 3.37% with 0.11 points, according to Bankrate’s latest survey of major lenders.

It’s also more than a full percentage point less than the average cost of a 30-year fixed-rate mortgage — 4.09% with 0.20 points in the same survey.

We think this deal will be tough to beat. But it doesn’t hurt to try.

You can get started by searching Bankrate’s database for the best mortgage rates from scores of banks and mortgage companies. Click here to read more

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Top CD Rates Begin Long Climb Back

If we’re lucky (and that’s a big if), by this time next month we’ll be celebrating the Federal Reserve’s first rate hike after an unprecedented seven years of historically low deposit returns.

Savers don’t need us to tell them they’ve suffered during this period.

Yields began to drop in the fall of 2008, sank for the next four to five years, and only in the last couple of years started very modestly creeping back upward.

But how much have rates suffered, and how much ground have we regained?

Our CD Rates Leaderboard has now tracked the top nationally available yields across the six most common terms for a full five years, having been launched in November 2010 (Happy Birthday, Leaderboard!).

So as we sit waiting in what could be the last month before the Fed kicks off a period of increasing rates, let’s rewind the clock to see what the top yields on certificates of deposit were in each of the last five years. Click here to read more

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EverBank Now Shares Top 4-Year CD Rate

EverBank has joined the slim ranks of national banks challenging E-Loan’s recent dominance in CD rates.

Its new 48-month return of 2.00% APY creates a three-way tie for the best nationally available deal among the banks on our CD Rates Leaderboard.

EverBank now shares the top 4-year lead with E-Loan and Salem Five Bank.

Operating a robust online portal and 10 branches throughout Florida, EverBank has a history of updating its rate sheet almost every Friday, and in the past has frequently moved in and out of the lead in several terms.

But in July, E-Loan raised its rates dramatically, taking command of the national lead in 1-, 2-, 3-, 4- and 5-year yields, and in some cases by almost two-tenths of a percentage point.

Since then, few banks have been able to beat or even match the new bar set by E-Loan. Click here to read more

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Nationwide Offer: 1.51% On 15-Month CDs

For anyone not already a member, USALLIANCE Federal Credit Union has a 15-month CD special that’s among the very best deals you’ll find anywhere in the country.

The 1.51% APY yield virtually matches the best nationally available 2-year return from the banks on our CD Rates Leaderboard.

Requiring a $500 minimum deposit, the two caveats on this CD promotion are that it’s only available to new USALLIANCE members, and e-statements are required.

However, existing members can take advantage of the offer if they refer someone who then joins the credit union. Click here to read more

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Two CDs Stand Out On Veridian Rate Sheet

Savers in Iowa and Nebraska are the lucky recipients of two chart-topping CD offers from Veridian Credit Union.

Iowa’s largest credit union is promoting a 25-month CD at 1.70% APY and a newly increased 39-month certificate paying 2.25% APY.

Both require a minimum deposit of $1,000 and carry an early-withdrawal penalty equal to 6 months’ interest on the amount withdrawn.

Veridian’s 25-month yield handily beats the top nationally available 2-year return of 1.52% APY from the banks on our CD Rates Leaderboard, while the 39-month option not only outpays the leading national rate of 1.85% for 3-year CDs but outdoes the top 4-year rate of 2.00% APY.

This also earns Veridian two spots in our constantly updated roundup of the best-paying credit union and community bank CDs from around the country.

Membership in Veridian is open to anyone who lives or works in 40 counties stretching across Iowa, including Polk and Linn, plus five Nebraska counties near the state line.

Joining Veridian and opening its certificates of deposit can be done online, by phone or in person at one of its 28 Iowa branches.

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Three-State Deal On 18- And 60-Month CDs

General Electric Credit Union usually has a couple of solid CD deals for its members.

Right now it’s paying:

  • 1.40% APY on 18-month CDs.
  • 2.75% APY on 60-month CDs.

That beats the best nationally available 1- and 5-year returns from the banks on our CD Rates Leaderboard.

They’re also among the top yields you’ll find in our roundup of the best rates from credit unions and community banks.

Membership in the Cincinnati-based credit union is open to more than 325 employer groups and anyone who lives in the:

  • Ohio counties of Adams, Brown, Butler, Clarke, Clermont, Clinton, Darke, Fayette, Greene, Hamilton, Highland, Miami, Montgomery, Preble, Shelby and Warren.
  • Kentucky counties of Boone, Campbell and Kenton.
  • Indiana counties of Dearborn, Franklin, Switzerland and Union.

With a $500 minimum deposit, members can buy certificates of deposit over the phone, by mail or in person at branches in Cincinnati, Fairfield, Loveland and Mason, Ohio; and Madisonville, Kentucky.

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Idaho CU Targets 13- And 23-Month CDs

Westmark Credit Union is offering Idaho savers two ways to beat the top CD returns from national banks.

Based in Idaho Falls, Westmark is paying 1.50% APY on 13-month certificates and 1.60% APY for 23 months.

The best nationally available 1- and 2-year returns from the banks on our CD Rates Leaderboard are 1.35% and 1.52% APY, respectively.

A search of Bankrate’s extensive database of the best CD rates — a smart move whenever you’re shopping for the highest returns — is likely to convince you that Westmark’s deals are worth grabbing.

Membership in Westmark is open to anyone who lives or works in 34 of Idaho’s 44 counties, including Ada and Canyon and comprising about 80% of the state’s residents.

Although joining the credit union can be done online, opening a Westmark certificate of deposit must be done by mail or at one of its 11 branches in the Boise and Idaho Falls areas.

To find over a hundred additional local and regional deals that outpay the national banks, visit our constantly updated roundup of the top-paying CDs from credit unions and community banks around the country.

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Top 3-Year CDs Make Some Progress In ’15

The top nationally available return on 3-year CDs has risen slightly to 1.85% APY since January, although it remains a tad shy of what you could earn four years ago.

During two weeks in late 2011, the top 3-year return plunged from 1.90% to 1.65% APY and later tumbled to a post-recession rock bottom of 1.40% APY in November 2012.

For the ensuing two-and-a-half years, the leading 36-month yield on our CD Rates Leaderboard remained mostly stuck between 1.40% and 1.51%.

There were a few exceptions, with short-lived spikes that took the rate to 1.70%, 1.75% and even 1.85% APY (although Live Oak Bank pulled that last offer after just 12 days).

It wasn’t until this summer — after a stagnant first six months of the year with zero movement in the 3-year lead of 1.50% APY — that a handful of banks began jockeying for top billing in the term.

Starting in June, they escalated the top 36-month return to 1.54%, then 1.66% and finally to 1.85% APY on the last day of July.

Click here to read more

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