Bank CD Rates

The Wilmington Trust CD rates come from a global bank that has clients in all 50 states and in 86 different countries around the world. This financial institution has been providing professional banking services to their clients since 1903.

The standard CD rates are for the 3 month with a minimum deposit of $5000 is an interest and APY of 0.15%. The rest of their standard CD’s have a minimum deposit of $500. The 6 month CD has and interest and APY of 0.25%. The 9 month CD has an interest rate and APY of 0.30%. The 12 month CD has an interest and APY of 0.60%. The 18 month CD has and interest and APY of 0.75%. The 2 year CD has an interest rate and APY of 0.90%. The 3 year CD has an interest of 1.03% and APY of 1.04%. The 4 year CD has an interest rate of 1.20% and an APY of 1.21%. The 5 to 9 year CD’s have interest rates of 1.39% with APY’s of 1.40%.

 Value Banking is when a checking account is associated with your CD deposit that produces a better rate as long as a minimum deposit is maintained. The value CD rates are for the 3 month with a minimum deposit of $5000 is an interest and APY of 0.30%. The rest of their standard CD’s have a minimum deposit of $500. The 6 month CD has and interest and APY of 0.40%. The 9 month CD has an interest rate and APY of 0.50%. The 12 month CD has an interest and APY of 0.70%. The 18 month CD has and interest and APY of 0.90%. The 2 year CD has an interest rate 1.00% and an APY of 1.01%. The 3 year CD has an interest of 1.09% and APY of 1.10%. The 4 year CD has an interest rate of 1.29% and an APY of 1.30%. The 5 to 9 year CD’s have interest rates of 1.50% with APY’s of 1.51%.

These bank CD rates were posted on March 4, 2010 and are current as of March 5, 2010. The Wilmington Trust CD rates are subject to change without notice.

The Northwest Savings Bank CD rates offer higher interest rates than their traditional savings products. This 113-year-old community bank was founded in Warren, Pennsylvania. Today, it has 168 branches in Pennsylvania, New York, Maryland, Ohio, and Florida. The parent company, Northwest Bank Corp., has $7.0 billion in assets. In 2009, Northwest was named to Forbes list of 100 Most Trustworthy Companies, where it ranked 54. They were also the highest ranking banking institution on the list.

Presently, there are Northwest CD promotions being offered. The minimum deposit required is $500. For a 12-23 months CD promo, the APY is 1.05%. For a 24-35 months CD promo, the APY is 1.50%. For a 36-47 months CD promo, the APY is 2.10%.

For a minimum deposit of $500, the standard or regular Northwest CDs are as follows. The 12-17 months CD has an APY of 0.80%. The 18-23 months CD has an APY of 0.95%. The 24-29 months CD has an APY of 1.20%. The 30-35 months CD has an APY of 1.30%. The 36-47 months CD has an APY of 1.40%. The 48-59 CD has an APY of 2.10%. The 60-71 months CD has an APY of 2.80%. The 72-120 months CD has an APY of 3.00%.

These bank CD rates are accurate as of 2/26/2010 and posted on their website on 1/2/2010. These rates may vary per area and may change without prior notice. Contact your local Northwest banker for more details and current Northwest Savings Bank CD rates in your area.

The CNB Bank CD rates are from a bank that began serving the people and businesses of the eastern panhandle of West Virginia and western Maryland in 1934. CNB is a full-service commercial bank conducting general banking and trust activities through six full-service offices and six automated teller machines located in Morgan and Berkeley Counties, West Virginia, and Washington County, Maryland.

The CNB Bank’s CDs have varying minimum opening deposits depending on the terms. The 7 to 30 days CD has a minimum opening deposit of $1000. It has an interest rate of 0.25% with an APY of 0.25%. The 91 days CD has a minimum opening deposit of $1000. It has an interest rate of 0.45% with an APY of 0.45%. The 182 days CD has a minimum opening deposit of $1000. It has an interest rate of 0.60% with an APY of 0.60%. The 12 months CD has a minimum opening deposit of $500. It has an interest rate of 0.90% with an APY of 0.90%. The 18 months CD has a minimum opening deposit of $500. It has an interest rate of 1.15% with an APY of 1.15%. The 24 months CD has a minimum opening deposit of $500. It has an interest rate of 1.35% with an APY of 1.35%. The 28 months CD has a minimum opening deposit of $5,000. It has an interest rate of 1.39% with an APY of 1.40%. The 30 months CD has a minimum opening deposit of $500. It has an interest rate of 1.49% with an APY of 1.50%. The 36 months CD has a minimum opening deposit of $1,000. It has an interest rate of 1.74% with an APY of 1.75%. The 48 months CD has a minimum opening deposit of $1,000. It has an interest rate of 2.04% with an APY of 2.05%. The 60 months CD has a minimum opening deposit of $500. It has an interest rate of 2.39% with an APY of 2.40%.

These bank CD rates are current as of 2/25/2010 and may change without notice. Visit the website and or call your local branch for other details and the most current rates of CNB Bank CD rates.

The SunTrust Bank CD rates are from the banking subsidiary of SunTrust Banks, Inc. that provides deposit, credit trust, and investment services to a broad range of retail, business, and institutional clients. Atlanta-based SunTrust has total assets of $172.7 billion on September 30, 2009. It operates 1,690 retail branches and 2,807 ATMs in Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia, and the District of Columbia.

SunTrust currently has a special CD package with a 26 month CD & IRA CD and a 49 month CD & IRA CD. The minimum deposit is $2000 for each CD and the offer is good for consumer and business accounts. If you have these two, each will have 3.00% APY. The balance must be split evenly between CDs in the package. A SunTrust checking account is required for the CD package. These special CD package rates were posted on 2/18/2010.

For a limited time only, SunTrust also has other Special CD Offers for a minimum deposit of $2000. The Special CD Offers are as follows. The 10 month No Penalty CD has an APY of 0.50%. The 10 month Traditional CD has an APY of 0.80%. The 25 month CD & IRA CD has an APY of 1.60%. The 39 month CD & IRA CD has an APY of 2.50%. The 59 month CD & IRA CD has an APY of 3.00%. For the 13 month CD & IRA CD, you will have to call SunTrust for the current special offer rate. These special CD rates were posted on 2/22/2010.

The above bank CD rates are still effective as of 2/23/2010 but may change without notice. Early withdrawal penalties apply. Visit or call your local branch to learn more about other SunTrust Bank CD rates.

The Bank of New York CD rates comes from a financial institution that was started by one of America’s founding fathers, Alexander Hamilton, in 1784. On July 2, 2007, it merged with Mellon Financial Corporation to form the Bank of New York Mellon. This is the oldest bank in the United States.

BNY Mellon Capital Markets has become the number one broker-dealers for Certificates of Deposits Account Registry Service or CDARS. They achieved this by having placements of $10 billion last year.

Unlike other financial institutions that have set rates and terms with low minimum deposits, this brokerage service is for the wealthy. This is the place where a large sum of money can be deposited and BNY will handle all the breaking up of the deposit into many different accounts with several network banks it is affiliated with. This way the depositor only has to deal with the CDARS. There is only one rate and one statement.

The overall deposit can be more than is covered by the FDIC. By breaking up the deposit into as many fractions as necessary to keep each CD below the $250,000 limit, all funds are federally insured by the FDIC.

The BNY Mellon has been in the CDARS business for over 25 years and has a client list over 5000 strong. The financial assets of this company are in 34 different countries serving more than 100 markets around the world.

For specific Bank of New York CD rates, consultation with a bank representative is necessary. This is when the bank CD rates will be decided on and offered.

The M&T Bank CD rates come from a bank that was established in 1856. Manufacturers and Traders Bank is now known as M&T Bank Corporation. It is one of the 20 largest independent bank holding companies in the US with assets more than $69 billion. It has more than 800 branches, 1800 ATMs, and 15,000 employees located in New York, Pennsylvania, Maryland, Washington DC, Virginia, West Virginia, and Delaware.

M&T Bank has Promotional CD Offers as well as standard M&T Select CDs. The minimum required deposit to open any of these CDs is $1000. To open an M&T CD, customers must have or open an M&T Select or M&T Select with Interest Checking account.

The M&T Select Promo CD Offers are as follows. The 6 months CD has an APY of 0.50%. The 12 months CD has an APY of 1.10%. The 18 months CD has an APY of 1.25%. The 24 months CD has an APY of 1.25%. The 36 months CD has an APY of 1.75%. The 60 month CD has an APY of 2.25%. These rates are posted on 5/23/2008.

The standard M&T Select CD are as follows. The 6 month CD has an APY of 0.35%. The 12 months CD has an APY of 0.85%. The 18 months CD has an APY of 0.85%. The 24 months CD has an APY of 1.01%. The 36 months CD has an APY of 1.01%. These rates were posted on 1/15/2009.

These rates are not available for non-personal accounts and may not be available at all M&T Bank branches. These APYs cannot be combined with any other offer. These bank CD rates are current on the M&T website as of 2/17/2010 and are subject to change without notice.

Visit the M&T Bank website for more details and to check M&T Bank CD rates in your area.

This is a CD Rates Guide to help investors on how to find the best possible rates when placing their money in this low-risk investment.

Unlike stocks, the risk with certificates of deposit is extremely low. In addition, most if not all investments in CDs are protected by the FDIC on the principal only. This literally means that if the financial establishment you have a CD from fails or otherwise goes bankrupt, your original investment will be refunded to you by the federal government. This will not include any interest that was acquired. All of that is lost. The basic drawback to low risk investments is the low return you can receive. The higher the risk, like in stocks, the greater the possible return.

The easiest way to know what the top CD rates in the country are is by looking at Discover Bank CD rates. They have a company mission statement that includes their aim to be in the top 5% of any other financial institution in the nation on any CD rate. An example of this is the posted CD rates for a 5 year CD on February 9, 2010. Discover Bank has a rate of 3.20% APY while the national average is at 1.83%. They never claim to have the best rate, just one of the better. As an investor, you can use this information as a starting point.

The interest on these CDs is what should be preferred by investors, they have interest compounded daily. This makes it possible for the highest rate of return upon maturity. Compounded daily interest means the interest that is earned on day one collects interest on day two of the CD’s term. This is better than weekly compounded interest which is better than monthly compounded interest. The more often your investment is compounded, the higher your return will be.

One option investors should never take, if possible, is when you are allowed to have the interest deposited in another account, other than the CDs. This option, if taken, is to the advantage of the financial institution. By having the interest removed from the CD, it will not collect interest and thus lowering the payout. This will also change the APY of your investment. The difference between the interest rate and the APY is the amount the interest will accumulate over the term of the CD. The greater the difference, the more often the interest is compounded. This is why some CDs that have the same interest rates have different APYs.

Other factors that will affect the amount you earn with a CD have nothing to do with the rates, but still affect your profits. These are the fees that are associated with the CDs. Most financial institutions do not charge for money being wired in electronically because all they have to do is accept them. There is not much of a process to send one either, but all institutions charge for this convenience because they can. The fee can range from $10 to $50. Other fees that are common are for a paper statement and how it is sent. With $5 for the issuing of a paper statement and $20 for priority mail, which most use, the total for knowing what you are earning is $25. When choosing your financial institution, check and see if the monthly statements are viewable online. If so, this should be available for free to help you keep track of your investment.

Before you make the deposit and sign any agreements involving a CD, make sure you do not need the money for any reason before it will mature. There are substantial penalties that financial institutions take if a CD is withdrawn before its maturity date. If you make the early withdrawal near the beginning of the term, part of your principal could be forfeited. Make sure you can loan this money to the financial institution before signing any agreement.

Today, there are variable-interest CDs available. Most of these sound like wise investments, but at the present time with the Federal Reserve keeping interest rates artificially low, they are not a good investment. Remember, the more risk that is involved, the great chance of profit or loss can occur.

Callable CDs can be invested in, but the term can be changed by the financial institution when they feel like it. It is best to get a “fixed rate, fixed maturity” term so you will know exactly what you will earn and when it will be available to you.

Investigate the various bank CD rates before making any investment and always read all the fine prints before signing any document, no matter how routine the bank representative tries to imply it is.

By following this CD Rates Guide, you increase your chances of finding the best investment available to you.

The Aurora Bank CD rates are ideal for your short term and long term saving needs. An Aurora Bank CD has high returns, flexible terms, and a low minimum deposit. Headquartered in Wilmington, Delaware, the Aurora Bank FSB is rich in history with its origin dating back to 1921. Today, their assets total over $5 billion and they provide loan servicing to over 400,000 customers.

Aurora Bank offers CDs, checking, savings, debit cards, home loans, and money market accounts. In each transaction, they are committed to safeguarding your privacy and financial information. It is a member of the Federal Home Loan Bank System and deposits are insured to the extent permitted by law with the FDIC.

A minimum opening deposit of $1000 is required to open a CD. The CD may be combined with an IRA Retirement Builder (traditional or Roth). The 6 months CD has an interest rate of 1.32% with an APY of 1.33%. The 12 months CD has an interest rate of 1.60% with an APY of 1.61%. The 18 months CD has an interest rate of 1.82% with an APY of 1.84%. The 24 months CD has an interest rate of 2.04% with an APY of 2.06%. The 36 months CD has an interest rate of 2.39% with an APY of 2.42%. The 48 months CD has an interest rate of 2.58% with an APY of 2.61%. The 60 months CD has an interest rate of 2.87% with an APY of 2.91%. Interest rates are compounded daily and posted monthly. These bank CD rates are valid as of 2/15/2010 and are subject to change without prior notice.

Access the Aurora Bank CD rates page in their website for more details.

For many Bank CD rates explained in detail is need because of the complexity of the process. Before you will understand about the rates and how they earn money, you must first realize what exactly a certificate of deposit is.

A CD differs from a saving account and other types of accounts of financial institutions in various ways. The most distinguishing is the fact that until its maturity, the depositor has agreed not to withdraw their funds. The maturity is the time that is agreed to by the depositor and the financial institution when they accept the deposit. This maturity term can be anywhere from 1 day to 10 years. It is possible for the holder of the CD to withdraw the deposit early, but a financial penalty will occur.

A CD is really a loan to that financial institution for a specified time or term. The financial institution accepts these funds for that specific term. This cannot be done for free. When an individual takes out a loan, they must make additional payments for the privilege of borrowing that money. The same occurs when a financial institution takes out a loan from a depositor, they have to pay interest at a pre determined rate of interest.

There are several different types of interest that a CD can earn. Two of the more common ones are simple and compound interest.

Simple interest is like the name very simple. The interest that occurs on the deposit is only on the principal. If a deposit of $1000 is made for 2 years at 3% simple interest, then after one year the balance is $1030 and at the end of 2 years the balance is $1060. The depositor does not receive any interest on past interest payments.

Compound interest is more complex with many different types. This is where the interest that has been previously added to the principal receives interest in addition to the principal each time the interest is calculated. If the interest is compounded monthly then the interest rate is divided up into 12 separate divisions. One for each month the interest is compounded. For a $1000 deposit that receives compounded interest of 3% annually then each month the deposit will receive 0.25% interest. At the end of first month the deposit would have grown to $1002.50. At the end of the second month the deposit would then be $1005.01. This would continue until the CD matures with each month the principal and all the previous interest payments would be increased by 0.0025 or 0.25%.

Compound interest can become a very messy calculation but the basic formula is as follows.

The letters represented are defined as follows:

The A is the amount of your deposit after the specified time and all the interest has been calculated. The P is the initial deposit amount or $1000 from my example. The r is the interest rate at which you agreed to before you made your deposit in decimal form or from my example above would be 0.03. n is the number of times a year the interest was compounded or 12 from my example. t is the number of years the deposit is made for which in this case is 2.

This makes my earlier example as follows;

$1000(1+ (0.03/12)) exp 2*12= $1061.76

This shows the difference of $1.76 from simple interest and compound interest on a $1000 deposit that is compounded monthly. To figure the APY one must take the interest that was figured divided by the initial deposit the divided by the number of years the CD term is for and multiply by 100. With my example the equation goes;

(61.76/1000) /2 *100= 3.088%.

This example shows that the real interest earned, when compounded interest is used is expressed as the APY.  If the compound interest is daily instead of monthly then the n value would be 365 and the total amount after 2 years would be $1061.83 with an APY of 3.092%

This proves that for the best rate on any CD would be interest that is compounded daily. The difference is not too significant in my example, but will factor in heavily with greater amounts of deposit. The easiest way to spot the best deal is with the APY. This is the reason CD’s at different financial institutions can have the same interest rates but different APY’s. It is all in the frequency of the compounding of the interest.

What investors have to be aware of when comparing Bank CD rates at different financial institutions is to notice the interest rates, what type of interest it is, the frequency of the compounding and the APY.

Simply put, Bank CD rates explained is best done by looking at the APY for the best return on your investment.

From America’s most convenient bank, the TD Bank CD rates online are easily found in their website. TD Bank, N.A. offers a broad array or retail, small business and commercial banking products and services to more than 6.5 million customers in Connecticut, Delaware, the District of Columbia, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Vermont, and Virginia. It is one of the 15 largest commercial banks in the U.S. with $142 billion in assets.

For TD CDs, the minimum amount to open and deposit $250 and there are no monthly maintenance fees.

The Basic CD has a term of 9 months with an APY of 0.75%. The No Catch CD has a 6 months term that earn 0.30% APY and a 12 month term that earns 0.40% APY.

The Step Rate CDs has 2 terms. The 3 year Step Rate CD, has a 1.39% APY on its 1st year. On the 2^nd year, it will step up to 1.64% APY. On the 3^rd year, it will step up to 1.98% APY. The 5 year Step Rate CD, has a 1.00% APY on its 1st year. On the 2^nd year, it will step up to 1.24% APY.  On the 3^rd year, it will step up to 1.98% APY.  On the 4^th year, it will step up to 2.47% APY. On the 5^th year, it will step up to 4.17% APY.

The IRA Add-Vantage CD, has a 12 month term which has a 0.75% APY. However, incremental deposits of $500 or more can be added at any time during the term.

These bank CD rates effective and valid as of 2/9/2010 but TD Bank CD rates online may change without prior notice.