The CD Rates Leaderboard For August 20

Posted in CD Rates by DealMaven
August 20, 2010 03:30 PM - 3 Comments

The week began with the best nationally available rates on 3-month to 5-year CDs remaining steady and that’s the way it’s ending.

Although there were several rate cuts made this week, the top rates stood firm.

To check the complete rankings for any of these certificates of deposit, just click on the term you’re interested in.

3-month CD: 1.35% APY from iGObanking with a $500 minimum deposit.

6-month CD: 1.25% APY from NewDominion Bank with a $3,000 minimum deposit.

12-month CD: 1.76% APY from Melrose Credit Union with a minimum deposit of $5,000.

24-month CD: 2.02% APY from Melrose Credit Union with a minimum deposit of $5,000.

36-month CD: 2.52% APY from Melrose Credit Union with a $5,000 minimum deposit.

60-month CD: 3.29% APY from Melrose Credit Union with a $5,000 minimum deposit.

Most credit unions have membership requirements that don’t make it possible for everyone to join — and that disqualifies them from our rankings.

But Melrose has a unique open charter that allows all U.S. residents to join, regardless of where they live or work, and it only costs $1 to sign up.

Compare these returns with the best CD rates from scores of other banks in our extensive database.

(3 votes, average: 5.00 out of 5)

3 Existing Comments

Deal Maven said:
on August 23rd at 11:27 am

After a thorough rate check this morning,we determined that The CD Rates Leaderboard for August 20 is still up to date.

Watch for a new post tomorrow.
Earl said:
on August 24th at 10:10 am

I called Melrose on their 5yr. CD and they told me the early withdrawal penalty was 6mo. interest and the interest rate of any money earned was reduced to 1%. What is up with that?
Earl said:
on August 24th at 10:14 am

Oh, and besides the $1 membership fee, you had to open a savings account for $25.

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