bank rates

Darby’s Step-Up CD Rates Tough To Beat

Darby Direct is promoting a “36-Month Step-Up CD” that starts at 3.00% APY, climbs to 4.00% next August and 5.00% the August after that.

A couple of readers, Julio and Tinda, started talking about this deal when we wrote about the better-than-average CD rates available from banks in the Pacific Northwest.

Unfortunately these certificates of deposit are only available to Georgia residents (or out-of-state customers who already have a Darby Direct savings account).

The online division of Darby Bank has a 36-month CD that pays from 3% to 5% over the term of the investment.

Bummer for the rest of us.

The average return for a 36-month CD is only 1.75% right now and even the best nationally-available deals don’t pay 3.0% APY.

Darby even allows investors to take out some, or all, of their money without penalty.

There’s a 10-day window on each anniversary of the purchase date in which free withdrawals are allowed. (You won’t find this perk on the Darby web site, but the bank confirmed it for us over the phone.)

Darby Direct is the online division of 80-year-old Darby Bank & Trust Co., which has nine branches in southern Georgia.

Click here to compare Darby’s deal with the best CD rates from dozens of other banks in our extensive database.

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Comments (1)
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One Existing Comment
  1. surferdude said:
    on September 5th at 08:55 am

    This is the most flexible CD that you’ll ever find. In addition to what has been mentioned, you are also allowed unlimited additional deposits.

    This is how banking should be done!

    If you didn’t establish an account with Darby before the cut off date, consider moving to Georgia. 😉