bank rates

Principal Bank: CD Rates Are Lukewarm

Principal Financial Group logoYou’ll find several above-average CD rates at Principal Bank.

But considering that the average annual yields that large banks and thrifts are offering are at a record low for every standard term, is that good enough?

Simply put: No.

But we do give props to Principal Bank – an online bank that is part of Iowa-based Principal Financial Group – for at least paying more than other big banks are these days.

Principal Bank’s best offering is for the 36-month term. It pays 0.80% APY with a $5,000 minimum deposit.

That’s three-tenths of a percentage point higher than the term’s average annual yield this week, which is 0.50%.

Of course, the top nationally 36-month CD rate on our CD Rates Leaderboard is 1.40% APY.

Principal Bank’s other standard-term CD rates, also with a $5,000 minimum deposit:

3-month CD rate is 0.10% APY versus an average rate of 0.12% APY. (Leaderboard leader is 0.56% APY.)

6-month CD rate is 0.15% APY versus an average rate of 0.16% APY. (Leaderboard leader is 0.88% APY.)

12-month CD rate is 0.30% APY versus an average rate of 0.25% APY. (Leaderboard leader is 1.05% APY.)

24-month CD rate is 0.60% APY versus an average rate of 0.40% APY. (Leaderboard leader is 1.30% APY.)

60-month CD rate is 0.80% APY versus an average rate of 0.81% APY. (Leaderboard leader is 1.40% APY.)

Principal Bank’s certificates of deposit are available nationally. You can buy them online or through the mail.

Learn more about Principal Bank at www.principal.com or call 800-672-3343.

Compare Principal Bank’s returns with the best CD rates from scores of other banks in our extensive database.

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  1. A.Bundy said:
    on April 14th at 02:08 am

    wow, they should be called citibank CD rates! since it’s tax time, i signed up with Doral Bank and got their 1.45% 2 year IRA CD which is unheard of these days.