bank rates

Dime Direct 5.00% 6-Month CD Rate

Bankaholic reader Jim B. wrote in to tip me off on a 5.00% APY 6-month CD (certificate of deposit) rate over at Dime Direct.

The catch is that you have to open a checking account ($5k min to avoid fees) to take advantage of this hot CD rate.

I’ve never heard of this bank, but nevertheless, this is still one of the highest rates out there.

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Comments (15)
1 Star2 Stars3 Stars4 Stars5 Stars (28 votes, average: 3.82 out of 5)
15 Existing Comments
  1. W. Chen said:
    on September 22nd at 11:52 pm

    I think it was an old website, some thread posted early 2006:
    however, that website still exists.

  2. Tinda said:
    on September 23rd at 04:20 pm

    WAMU is offering 5% for 12-13 months CD again. Also WAMU is offering 4% online saving account. The only catch is that to qualify for 4% one must also open checking account. 4% online is highest I have seen in a long time.

  3. Brian said:
    on September 23rd at 04:47 pm

    Yeah but if they are bought out by somebody or go bankrupt do you still get your 5% interest on the CD??

  4. Kevin said:
    on September 23rd at 06:25 pm

    That’s a good question Brian and I would also like to know the answer. Obviously, the principal is FDIC insured but what happens to your interest?

  5. Tinda said:
    on September 23rd at 06:50 pm

    As long as your total inverstment (including intrest) is less than FDIC insured limits, your principial + interest (up-to the day of bankrupicy) is covered by FDIC.

  6. Bill said:
    on September 24th at 04:17 pm

    Agreed, as long as your princicpal + interest does not exceed FDIC limits your inerest is insured. Up to the date of bankruptcy. I had an IndyMac CD and I received my interest.

  7. Lena said:
    on September 25th at 05:03 am

    Dime Bank is in Williamsburg: Brooklyn, NY 11211

  8. Dominique said:
    on September 25th at 06:03 pm

    well I keep doing the math on these things….if you are not someone who is disciplined than maybe you want a cd but the esavings is the best option out there–for me at least when you calculate the rate (generally speak)–if you were to put a min of 5k at 5% you are looking at $250 return –to have your money looked for 6 mos versus $200 at 4% with the same 5k min–where you can move your money anytime you want without penalties..correct me if I am wrong I would love to know–I read something about T-bills and it sounds interesting would love to more ..but esavings just as good if not better than CDs in my book

  9. Michael said:
    on October 3rd at 12:08 pm

    Too many restrictions to get the rate. Better off shopping around, keeping liquid and waiting as rates are going up.

  10. Keith said:
    on October 7th at 02:51 pm

    AAA 5 year CD rate of 5.28% APY
    For AAA South members

  11. mrbill said:
    on October 9th at 08:56 am

    Rates are going down,Federal Reserve Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson are both idiots.
    us government=fail

  12. Mary said:
    on October 10th at 05:52 pm

    Do any of you think it is a good time to buy into stock index fund now. Also, where can I find the 4% esavings? Citi is paying less than 2% right now.

  13. Bob said:
    on October 15th at 01:59 am

    How about insured 6.10% on a free checking up to 25K with only conditions 10 transactions with debit card, and one transfer into account monthly. Also includes free atm withdrawals but they don’t count toward 10 debits.

  14. frank corn said:
    on October 24th at 07:09 pm

    Looking for 6 month cd highest ratr out there must be FDIC insured.Any one know about WAMU 4% on line savings acct. Is it FDIC insured?

  15. Vicky said:
    on November 16th at 06:37 pm

    It has a catch. Read the fine lines. You are qualify if you open an interest earned checking account,the rates are depend on the high balances….. if the balance is 5,000.00 of less interest rate is .5% plus a monthly fee will apply.Therefore you need to keep at least 5K to avoid the monthly charge ( about 5.00/mth) and get WHAT ? .5% interest on YOUR 5K. No thanks, I rather keep my 5K somewhere else for better APR