Below is the latest list of the best CD rates available nationwide. Three of the best rates are offered by credit unions but they can be joined easily no matter where you live. Keep in mind that Melrose Credit Union can easily be joined anyone from anywhere in the USA for $1. Also, Fort Knox Credit Union can be joined easily by first becoming a member of the American Consumer Council at no cost. Then simply pay a one-time $10 fee membership fee to Fort Knox Credit Union and you’re in. … [Read more...]
Top CD Rates Compared by Yield/Term Ratio
It is typical for CDs to offer a higher yield for a longer term. The farther out the term goes, the less the bank is willing to boost the yield. Using RateCatcher’s CD rate comparison tool, I calculated the ratio of yield to term for the most common CD terms. The longest term CDs provided the worst ratios with the best 7 year CD coming in at 0.49. The sweet spot is at the 1 year and 2 year CDs with ratios of 1.48 and 1.13 respectively. The 6 month CD is somewhat irrelevant because the … [Read more...]
Ally Bank’s High Yield CD
Are you looking for a high yield CD? Ally Bank's 1 Yr High Yield CD might offer the rate and features you are looking for. Ally Bank CD terms are available from 3 months to five years. The Ally High Yield CD has no monthly charges, and while other banks compound interest monthly, quarterly or even annually, Ally compounds your interest daily. However, the important thing to compare is the APY because it already takes into account the compounding effect. If you find a product offering a … [Read more...]
