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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 3-21 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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Arizona Special On 15- And 25-Month CDs


To celebrate its Diamond Anniversary, Vantage West Credit Union is offering two CD gems to lucky Arizona savers.

Based in Tucson and serving Phoenix as well, Vantage West is paying:

  • 1.50% APY on 15-month CDs.
  • 2.00% APY on 25-month CDs (for residents of Cochise and Pima counties).
  • 2.25% APY on 25-month CDs (for residents of Maricopa and Pinal counties).

But time is of the essence on this deal: All of these rates expire March 31.

On our CD Rates Leaderboard of the best nationally available yields, 12-month CDs currently top out at 1.21% APY, while the leading 24-month CD pays 1.35% APY.

What really makes the 25-month Vantage West certificate shine is that earning 2.00% or more on our Leaderboard requires committing to a 60-month CD, where the very top national rate is 2.25% APY. Click here to read more

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Dallas Deal: 2.50% On 5-Year CDs

Some things really are bigger in Texas.

Take, for example, the 2.50% rate that City Credit Union is paying on 60-month CDs.

The Dallas-based credit union’s rate is a quarter of a point above the highest nationally available return on our CD Rates Leaderboard.

City also tops the national leaders with its 1.50% APY on 30-month CDs for the same $500 minimum deposit.

It takes a 36-month term to reach that yield on our Leaderboard.

Serving Dallas, Cooke and Ellis counties, City extends membership to anyone who lives, works, worships, volunteers or attends school in one of those counties or works for one of about 150 affiliated employers.

Joining City and buying its certificates of deposit can be done online or at one of its nine branches: Dallas (4) and one each in Duncanville, Gainesville, Mesquite, Sherman and Waxahachie.

Click here to find lots of other local deals from community banks and credit unions.

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