bank rates

40-Month CD Special Pays Off For Iowans

UPDATE 6/5/15: There’s been another hike in these rates: 40-month CD now pays 2.02% APY with $1,000 minimum; 2.07% APY with $10,000 minimum; 2.12% APY with $50,000 minimum; 2.17% APY with $100,000 minimum; and 2.22% APY with $250,000 minimum.

UPDATE 5/29/15: After several ups and downs (see posts below), these rates are on the rise again: The 40-month CD now pays 1.81% APY with $1,000 minimum; 1.86% APY with $10,000 minimum; 1.91% APY with $50,000 minimum; 1.96% APY with $100,000 minimum; and 2.02% APY with $250,000 minimum.

Collins Community Credit Union, based in Cedar Rapids, has a 40-month CD special that actually gets more special as you increase your investment.

Tiered rates are a rarity these days, but, really, it’s how it should be done.

For this 40-month special, you’ll earn:

  • 1.91% APY with a $1,000 minimum deposit.
  • 1.96% APY with a $10,000 minimum deposit.
  • 2.02% APY with a $50,000 minimum deposit.
  • 2.07% APY with a $100,000 minimum deposit.
  • 2.12% APY with a $250,000 minimum deposit.

However much you put into it, you’ve got yourself a winner.

The most you can earn on a nationally available 36-month CD is 1.50% APY. Check our database of all the best CD rates to see what we mean.

Collins Community serves 31 Iowa counties, and members can buy certificates of deposit online, over the phone or at one of its 13 branches.

UPDATE 4/10/15: Collins has lowered these rates again. The 40-month CD now pays: 1.71% APY with $1,000 minimum; 1.76% APY with $10,000 minimum; 1.91% APY with $50,000 minimum; 1.86% APY with $100,000 minimum; and 1.91% APY with $250,000 minimum.

UPDATE 3/6/15: Collins is reversing course and raising these rates: 1.81% APY with $1,000 minimum; 1.86% APY with $10,000 minimum; 1.91% APY with $50,000 minimum; 1.96% APY with $100,000 minimum; and 2.02% APY with $250,000 minimum.

UPDATE 2/27/15: Collins has lowered these rates again. They now pay 1.76% APY with $1,000 minimum; 1.81% APY with $10,000 minimum; 1.86% APY with $50,000 minimum; 1.91% APY with $100,000 minimum; and 1.96% APY with $250,000 minimum.

UPDATE 2/13/15: For the second time this week, Collins has lowered these rates: They now pay 1.86% APY with $1,000 minimum; 1.91% APY with $10,000 minimum; 1.96% APY with $50,000 minimum; 2.02% APY with $100,000 minimum; and 2.07% APY with $250,000 minimum.

UPDATE 2/10/15: Collins has just lowered these rates to the ones originally reported in this post (see above).

UPDATE 1/16/15: Good news — Collins has just raised these rates. The 40-month CD now pays: 2.02% APY with $1,000 minimum; 2.07% APY with $10,000 minimum; 2.12% APY with $50,000 minimum; 2.17% APY with $100,000 minimum; and 2.22% APY with $250,000 minimum.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (0)
1 Star2 Stars3 Stars4 Stars5 Stars (8 votes, average: 3.75 out of 5)
Loading...
No Existing Comments

Comments are closed.