Bank CD Rates December 2009
The best bank CD rates December 2009 come from an unusual place and for extremely long terms.
GoldWater Bank out of Scottsdale, Arizona has a 5 year CD with an interest rate of 3.357% and an APY of 3.40%. They also have a 3 year CD with an interest rate of 2.996% and an APY of 3.030%. Unfortunately, it takes $50,000 to open an account to receive these deposits. The rates and APY’s were posted on 12/03/09.
For those looking for a CD that has a deposit amount for the working man, try Acacia Federal. They offer a 5 year CD with an interest rate of 3.10% and an APY of 3.15%. The minimum deposit is $500 and the rates were posted on 12/07/09. They also offer a 3 year CD with an interest of 2.47% and an APY of 2.50%, again with an attainable minimum deposit of $500.
Legacy National Bank has a promotional offer of a 14 month CD with an APY of 2.30% with a minimal deposit of $1000. This is for a limited time only but was available as of 12/09/09. Also available is the Freedom CD with an APY of 2.00%. This CD gives investors 3 choices for change before the maturity of the CD arrives. There is the penalty free for any amount that is withdrawn but does not exceed 1/2 the balance or let the balance drop below the minimum deposit of $1000. The second option is the 1 Bump Up where the account holder can have the rate increased if offered by this financial institution. The last is the 1 Deposit where the account holder can make an addition deposit into the CD before the CD matures and collect the interest it could acquire.
The best 2 year bank CD rates is still from Jacksonville Bank with an APY of 2.40% with an interest rate of 2.37%. There is a $1000 minimum deposit and the rate was current as of 12/09/09.
These are the best bank CD rates December 2009 as of 12/09/09. With so much change in the banking system like the closing of AmTrust on 12/04/09 by the Office of Thrift Supervision, check the stability of the financial institution first before making your deposit.