bank rates

CD Rates At Regions All Below Average

It's 58-month CD pays just 1.01% APY.It’s been more than a year since I reviewed CD rates at Regions.

My, how things have changed.

In April 2011, Regions’ best offerings were its promotional relationship rates, and it had multiple deals ranging from 1.25% APY for 14-month CDs to 2.10% APY for 54-month CDs.

You won’t find any rates anywhere near that good now.

I checked major cities in the 16 states across the South and Midwest where Regions has offices, and the bank is now offering only one odd-term deal across the board, a 58-month CD paying 1.01% APY.

And that’s with a $10,000 minimum deposit and a checking account.

I also found no variance in the regular relationship rates, which require a $500 minimum deposit and a checking account.

They’re low, too. Like not a single rate above the average annual yields large banks and thrifts are offering low.

3-month CD rate is 0.03% APY versus an average rate of 0.15% APY. (Leaderboard leader is 0.65% APY.)

6-month CD rate is 0.05% APY versus an average rate of 0.21% APY. (Leaderboard leader is 0.81% APY.)

12-month CD rate is 0.10% APY versus an average rate of 0.32% APY. (Leaderboard leader is 1.15% APY.)

24-month CD rate is 0.20% APY versus an average rate of 0.51% APY. (Leaderboard leader is 1.25% APY.)

36-month CD rate is 0.30% APY versus an average rate of 0.68% APY. (Leaderboard leader is 1.55% APY.)

60-month CD rate is 0.60% APY versus an average rate of 1.11% APY. (Leaderboard leader is 1.91% APY.)

Our advice: Save your money – somewhere else.

Start with our CD Rates Leaderboard and our listing of the highest CD rates we’ve found at local banks and credit unions.

There are definitely better deals out there, and you’ll find them if you compare Regions’ returns with the best CD rates from scores of other banks in our extensive database.

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