CD rates are so low right now that you usually have to commit your money for at least five years to earn 3%.
But Citizens First, a 32-branch bank headquartered in Port Huron, Mich., is paying 3.15% APY on a 22-month certificate of deposit.
The minimum deposit is only $1,000, the offer is available nationwide, and you can open an account online.
While it’s true that odd-term CD rates are often higher than those on your standard 12-, 24- or 36-month CDs, this CD rate is exceptional.
It’s more than double the national average for 24-month CDs and is substantially higher than the best nationally available rate for a 24-month CD — 2.47% from E-Loan Bank.
Just remember that great rates usually don’t last at community banks because they quickly attract all of the money they need. So, if you’re in the market, sign-up today.
You can also click here to see how Citizens First’s deal compares with the best CD rates and terms from dozens of other banks in our extensive database.
(5 votes, average: 3.80 out of 5)
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