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Ohio Deal: 2.269% On 2-Year CDs

With higher interest rates on the horizon, wouldn’t it be great to lock in a 5-year CD yield with just a 2-year commitment?

For Ohio savers lucky enough to join Millstream Area Credit Union, this isn’t just a pipe dream.

Serving Findlay, Bowling Green, and six Ohio counties, the credit union is currently paying 2.269% APY on 24-month CDs.

That edges ahead of the top nationally available return of 2.25% APY for 5-years on our CD Rates Leaderboard.

It also puts Millstream in quite elite company. We’re aware of only three CDs in the country that offer yields of more than 2% for terms of less than 2 years: Click here to read more

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Texas Deal: MMA Guaranteed Until October

At Austin Capital Bank, Texans can roundup an MMA paying 1.11% APY, with the rate guaranteed through the end of September.

There’s only one nationally available money market account paying more.

EverBank, of Jacksonville, Florida, will pay you a guaranteed 1.40% APY on balances to $50,000 with a Yield Pledge MMA for the first six months after you open your account.

After the six-month bonus period ends, the rate drops to 0.61% APY, giving you an annual APY of 1.01%.

It takes a minimum deposit of $1,500 to open a Yield Pledge MMA, but you don’t need to keep a certain amount in your account to earn interest. You pay no monthly fees. Balances above $50,000 earn 0.61% APY.

At Austin Capital Bank, you’ll need to have at least $10,000 in your account to earn 1.11% APY. Click here to read more

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Indiana Deal: 1% On 4-Month CDs

As we wait for the Fed to begin raising rates, Centra Credit Union has the perfect “short but sweet” deal, as well as a longer CD that can also fit the bill.

Serving Indianapolis and much of Indiana, Centra is paying 1.00% APY on just a 4-month CD.

On our CD Rates Leaderboard of the best nationally available rates, the top 3-month CD pays a paltry 0.60% APY, while the leading 6-month rate increases to only 0.85% APY.

Even among the best local and regional deals in the country, we’re aware of just two other under-6-month CDs that match or beat Centra’s rate:

  • Bankers Trust is paying 1.33% APY on any term 3-to-21 months, for savers in Iowa and Phoenix.
  • Oritani Bank has a 5-month CD yielding 1.00% for northeastern New Jersey savers.

Centra’s 4-month promotional certificate requires a minimum deposit of $5,000 in new money, meaning funds not already on deposit with the credit union. Click here to read more

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Jumbo Mortgage Deal: 3.625%, No Points

Philadelphia Mortgage Advisors is offering one of early spring’s best deals on 30-year, fixed-rate jumbo mortgages to borrowers in three Eastern states.

It’s charging just 3.625% for purchases or refinancings, with no points, $750 in lender fees and a 55-day rate lock.

That’s the lowest jumbo rate we’ve featured this year. It’s nearly two-fifths of a percentage point less than the national average of 30-year jumbos — 4.00%, according to our latest survey of major lenders.

This deal is available in New Jersey, Delaware and Pennsylvania.

Live somewhere else?

Use these terms as a blueprint for what you want. Find a similar offer from a lender in your area, and you know you’ve found a winner.

You can get started by searching Bankrate’s database for the best mortgage rates from scores of other lenders serving your town. Click here to read more

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Big Easy Deal: 1.77% On 3-Year CDs

New Orleans-based First NBC Bank is paying savers 1.77% APY on its 3-year certificates, with a minimum deposit of $10,000.

That’s more than a quarter point above the best nationally available return of 1.50% APY on our CD Rates Leaderboard.

piggly bank with cash poking out of the deposit slot.

It also means New Orleans-area savers have two great offers to choose from.

Crescent Bank & Trust is offering a comparable 1.81% on its 3-year certificates.

We’re only aware of two other local deals that pay this much or more on 36-month CDs:

First NBC has become Louisiana’s second-biggest bank since opening in the aftermath of Hurricane Katrina.

Its certificates of deposit can be purchased at any of its 32 branches located throughout Jefferson, Orleans, St. Tammany, Livingston, Tangipahoa and Washington parishes.

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How Does This Step-Up CD Actually Work?

With markets expecting interest rates to rise, step-up CD promotions are becoming more popular.

These CDs — also called “bump-up” or “raise your rate” CDs — permit the owner to increase the rate should the institution’s posted rates increase during the term.

A recent experience with a step-up right I thought I had but didn’t has prompted me to make a list of some questions savers should ask before opening a bump-up certificate of deposit, to make sure they’re getting what they’re paying for.

Unfortunately, website disclosures aren’t always crystal clear. Click here to read more

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Leading 2-Year CD Rates Slide So Far This Year, But They Still Top Last March

If one word can describe the kind of year 24-month CDs are having so far, the word might be discouraging.

Or frustrating. Or disappointing. (Go ahead, choose your favorite.)

hand holding 100 dollar bills

Not only did the top nationally available return for 24-month certificates on our CD Rates Leaderboard drop to 1.35% APY in mid-January — it’s been stuck there ever since.

Offering the current lead rate of 1.35% are CIT Bank and Synchrony Bank, with CIT holding a slight edge due to its 24-month RampUp Plus CD allowing savers one rate bump and one additional deposit over the term of the certificate.

The outlook seemed quite a bit different last September.

Citizens State Bank gave us reason to hope that better times had arrived when it boosted the 2-year term by more than a quarter of a point with its 1.55% APY. Click here to read more

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New Jersey Deal: 1% On 5-Month CDs

For savers shying away from long-term CDs until the Fed starts raising rates, Oritani Bank is offering some attractive short-term options.

Serving northeastern New Jersey, Oritani is paying the following competitive rates on three promotional certificates of deposit:

  • 1.00% APY on 5-month CDs.
  • 1.10% APY on 9-month CDs.
  • 1.25% APY on 16-month CDs.

Even better, each of these rates can be boosted 0.15% by also having a new or existing Oritani checking account.

The 5-month certificate is the standout here, easily beating the top nationally available 6-month yield of 0.85% APY on our CD Rates Leaderboard.

Meanwhile, the 9-month and 16-month certificates rank favorably against the best national 12-month rate of 1.21% APY. Click here to read more

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EverBank Falls From 36-, 60-Month Lead

It seems the CD rate-setters at EverBank like rollercoasters.

The Jacksonville-based bank, which has a dozen branches across Florida and a prominent online operation, has yet again revised its 60-month, 36-month and 24-month CD rates.

This time, the changes are all reductions and drop the bank out of a shared lead among nationally available rates on our 3-year and 5-year CD Rates Leaderboards.

Its new rates are:

  • 2.03% APY on 60-month CDs, down from 2.25%.
  • 1.37% APY on 36-month CDs, down from 1.50%.
  • 1.10% APY on 24-month CDs, down from 1.14%.

As a result, Synchrony Bank now stands alone as the 36-month leader, while Barclays Bank, GE Capital Bank and Synchrony co-lead the 5-year term.

What’s surprising here is the remarkably frequent seesawing that EverBank is doing. Click here to read more

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