bank rates

Local Deals Offer Highest CD Rates

Small banks are paying local customers 2.5% or more for short-term certificates of deposit — beating the best nationally-available CD rates by almost half-a-point.

That’s because the highest CD rates continue to be offered through deals restricted to the local customers of community banks.

In most cases the best rates are on odd-term certificates of deposit — CDs that don’t mature in the traditional 6-, 12- or 24-months.

But they routinely:

Community banks continue to offer better rates to local customers than nationally-available deals.

  • Pay more than twice the national average of comparable, traditional CDs — a record-low 0.98% APY for 12-month CDs right now.
  • Beat the best nationally-available rates — currently 2.15% APY for a 12-month CD from OneWest Bank.

Here are just some of the deals you can find out there. In each of these examples the CDs must be purchased in person at a local branch.

2.55% APY on a 13-month CD with a minimum deposit of $100 from the Bank of Kirksville, which has eight locations in northeast Missouri.

2.50% APY on a 15-month CD with a minimum deposit of $500 from Enterprise Bank of South Carolina, which has 12 locations in South Carolina.

2.50% APY on a 13-month CD with a minimum deposit of $500 from Atlantic Southern Bank, which has 13 branches in Georgia and Jacksonville, Fla. (This deal is also available at the three Georgia branches of Sapelo Southern Bank, a wholly-owned subsidiary.)

Click here to compare these offers with the best CD rates from dozens of other banks in our extensive database.

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