bank rates

5-Year CD Rates Roundup: Take Home 2.45% Nationally, 2.61% Locally

Looking for the best 5-year CD rates? Right now the best you can earn nationally is 2.45% from Popular Direct.

Even though the Fed has been raising the prime rate, we haven’t seen it reflected much in certificates of deposit.

Still, it beats the 2.27% you could earn from the top 5-year CD rates at this time last year.

Fortunately, you can almost always find some better-than-average local deals.

And keep in mind that rates change daily, which is why it’s always a good idea to check Bankrate’s extensive database of the day’s best CD rates. Click here to read more

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Synchrony Bank CDs Are Worth A Look

Woman holding up a piggy bank with money coming out of it.We’ve been chatting a lot about Synchrony Bank lately. That’s because the bank keeps offering great deals.

While it’s not the leader on any single term, it’s in the top three on nearly every term.

It’s now offering 1.95% APY on a 5-year CD with a minimum deposit of $2,000, or 2.35% APY for a minimum deposit of $25,000. The national average 5-year CD pays just 0.97% APY.

On 4-year CDs, it’s offering 1.95% APY with a minimum deposit of $2,000.
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GS Bank Is Offering Top CD Rates

If you’re in the market for a CD, GS Bank is worth a look. It’s leader of the pack, paying the highest rate on nearly every term.

One deal that sticks out is its offer on 3-years.

GS Bank is offering 2.00% APY on 3-year CDs with a $500 minimum. That’s nearly a quarter of a percentage point more than the second best deal, 1.80% APY from Synchrony Bank.

You’ll also find that GS Bank is posting the top deal on 1-, 2-, 4- and 5-year CD rates.

Of course, it’s always crucial to compare the best CD rates.

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KS StateBank Pays Top Deals On Jumbo CDs Nationwide

Don’t let the Kansas name fool you – KS StateBank‘s certificates of deposit are available nationwide.

And it’s offering top rates on jumbo CDs.

It’s currently paying 2.25% APY on a 5-year jumbo. All of its jumbo CDs are paying 1.55% APY or above.

When the Manhattan, Kansas-based bank implemented an online account opening system more than two years ago, it extended the availability of several deposit products to savers nationwide.

But it wasn’t until just a year ago that it offered any rates worth mentioning.

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Granite CU Offers Tough-To-Beat Deals in Utah

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For savers in Salt Lake County, some of the best yields come from Granite Credit Union.

It’s paying 2.50% for a 5-year term, which is well above the top nationally available 5-year return of 0.91% APY.

Granite is also offering a promo rate on 30-month CDs — 1.80% APY. That’s better than you’ll find out of the top 2-year CD rate, 1.65% APY. And it’s nearly as good as the top 3-year CD rate, 1.90% APY.

Of course, it’s always wise to check Bankrate’s extensive database of the day’s best CD rates before locking in any certificate.

But if you’re in Salt Lake County, Granite is certainly offering some of the best deals around.

Here’s what the Granite Credit Union is paying on CDs:

 

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Best Money Market Accounts for August 2017

Money Market AccountsThe best money market account deals come from a pair of affiliated banks from Oklahoma, All America Bank and Redneck Bank. Both are paying 1.50% APY. But that rate is only paid on balances up to $35,000. Higher balances earn just 0.50% APY.

We have to note that this is the highest rate we’ve seen out of money market accounts in quite a while.

The next best money market account rate this month comes from ableBanking Direct, which is paying 1.30% APY with a $250 minimum to open.

While ableBanking Direct requires a $250 minimum deposit to open, there’s no minimum to earn the APY.

ableBanking Direct is a division of Northeast Bank and operates 10 traditional offices throughout seven counties in Maine. But an account can be opened by anyone willing to provide their Social Security number and their existing bank account and bank routing number.
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Check Out Navy Federal Credit Union’s 12-Month CD Special

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Navy Federal Credit Union is currently offering a 12-month CD special that’s certainly worth checking out. It’s a bonafide winner for military-affiliated savers across the country, as well as their families.

Navy Fed is currently paying 3.00% APY on special 12-month certificates, with a minimum $50 deposit.

Compare that with the 1.56% APY you can earn from the top nationally available 1-year certificate or the 5-year term it takes to earn 2.35% APY.

The one catch is that this certificate has a maximum investment of $3,000.

Membership in Navy Fed is open to savers who are affiliated in any way with the Armed Forces, the U.S. Department of Defense or the National Guard. This includes regular active duty and reservists in the Army, Navy, Air Force, Marine Corps and Coast Guard, as well as Army and Air National Guard personnel.
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CIT Bank Savings Account: Bookmark This Deal

CIT Bank savings

If you’re in the market for a savings account, this is a deal you’ll want to bookmark. CIT Bank’s new savings offer is tough to beat.

It’s paying 1.30% APY with a $100 minimum on balances up to $100,000. And when you open an account, you’ll get a $100 bonus.

The only savings deal that currently beats that is from Live Oak Bank, which is offering 1.35% APY with no minimum.

Indeed, banks are starting to compete for the best rates, and that’s great news for savers.

You can check out our monthly roundup of the best savings accounts for more options and opportunities.

With the national average savings account rate at a dismal 0.09%, this deal from CIT Bank is certainly better-than-average.

RATE SEARCH: Compare the best savings account rates.

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Connexus Credit Union Offers National Deals Worth A Look

It might not be a national bank, but Connexus Credit Union is so easy to join it might as well be.

By making a one-time $5 donation to Connexus’ charitable association, anyone nationwide can become a member of the Wisconsin credit union, and now is as good a time as any given its current crop of CD specials.

CD deals worth a look from Connexus Credit Union

With a $5,000 minimum deposit, Connexus is paying 1.50% APY on 12-month certificates, 1.70% APY on 24-month CDs, 2.00% APY on 36-month CDs and 2.00% APY on 60-month CDs.

And while all of the rates its offering are solid deals, Connexus stands out in the 3-year CD category. Indeed, the only other bank paying 2.00% APY on 3-year CDs is Salem Five.

Connexus requires a $5,000 minimum to earn that rate while Salem Five requires a $10,000 minimum.

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