bank rates

Broadway Bank 3.00% 25-month CD

To find the best interest rates you’ve got to look for odd-term certificates of deposit from local banks and credit unions.

This deal from Broadway Bank in Chicago is exactly what we’re talking about.

The 3.00% APY it’s paying on 25-month CDs is not only twice the national average for traditional 24-month CDs, it beats the best rate available nationwide — 2.90% APY from GMAC Bank.

As with many community banks, you must open an account in person at one of Broadway Bank’s four branches.

But there’s an advantage to that.

We love small banks that allow savers to open accounts online, no matter where they live.

But those banks often get such a huge response that they quickly drop their rates, frustrating investors trying to get in on the deal, and hurting their local customers.

Until the Federal Reserve stops providing the big banks with free money, these kind of deals may be the best we can hope for.

Oprah WinfreyDinner’s on Oprah! America’s favorite serial-dieting talk show host is offering a coupon for a free grilled chicken meal at KFC. We don’t know how the Colonel’s latest foray into healthy eating tastes, but it definitely brings fewer calories and less fat to the table than his traditional fried fowl. You can learn more on Bankaholic’s Personal Finance Blog, which you can always reach by clicking the “finance” tab at the top of this page.

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