bank rates

Earn 2% With Incrediblebank’s 1-Year CD

The online division of River Valley Bank, based in Rothschild, Wis., is paying an effective rate of 2.00% APY, and this deal is available to savers everywhere. is now offering the best nationally available return on 12-month certificates of deposit — if you don’t mind a little twist to the deal.

The online division of River Valley Bank, based in Wausau, Wis., is paying an effective rate of 2.00% APY.

That beats the 1.80% APY offered by First City Bank, which has topped our rankings of the best 12-month CD rates since mid-April.

But we have to say that’s the effective rate for the year because the actual rate is 1.75% APY for the first six months and 2.25% APY for the second six months.

We don’t know why Incrediblebank has chosen to add this complication to the offer, but it has.

It’s also requiring all deposits to be made electronically through the Automated Clearing House network and imposing a fairly steep $10,000 minimum deposit and early withdrawal penalty – six months worth of interest.

Quirky as the name and Web site might be, River Valley Bank was established in 1967 and has 18 branches from central Wisconsin into Michigan’s Upper Peninsula.

It’s attained a solid four (out of five) stars from Bankrate’s “Safe & Sound” rating system, and of course, it’s FDIC insured.

Click here to compare Incrediblebank’s offer with the best CD rates from scores of other banks.

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4 Existing Comments
  1. Jen Stryker said:
    on June 25th at 10:01 am

    Social shopping sitesSocial shopping sites have been characterized as a Facebook for people with a compulsion to shop and share.They allow users to tell the world what they’ve bought, where they got it and how much they paid for it. We think that’s a bad idea for all sorts of reasons. But our most recent post on the Personal Finance blog focuses on two reasons that are clearly hazardous to your financial health.

  2. RateRunner said:
    on June 25th at 10:02 am

    checking-1Starting July 1, banks will be required to get new customers’ permission before charging them fees to cover debit card and ATM overdrafts. On Aug. 15, the rule will extend to existing customers. Customers who don’t enroll could experience some awkward moments at the grocery. But they’ll also avoid paying a $35 overdraft fee for a $2 cup of coffee. Some banks are pressuring customers to “opt-in” to overdraft protection. Others aren’t. Here’s a look at how many of the larger banks are responding to the new rules.

  3. CrankySaver said:
    on June 25th at 04:41 pm

    The House and Senate have reached agreement on new regulations intended to prevent another financial crisis like the one that nearly wrecked the banking industry in 2008. A final vote will be next week.

  4. CrankySaver said:
    on July 1st at 09:11 am

    There goes the top nationally available deal on 12-month CDs.We came in this morning to find this on the Incrediblebank Web site. So there goes the this great deal.