You aren't going to get wealthy purchasing CDs, but you can do a lot worse. The main reason for this is low interest rates. Regardless, here are the best CDs available today, based largely upon best yield.
Best certificates of deposit No. 1 - Ally Bank
Ally was voted by Cash Magazine as the very best online bank, in part as a result of good CDs. With a 5 year CD, you can get a 1.59 percent APY, which is good. On top of that, you can 0.94 percent APY on a one year CD with no minimum required to open the account.
Nationwide Bank a good choice
The CD goods at Nationwide are pretty incredible. In fact, you can get 1 percent APY on a one-year CD with no minimum deposit. You can get better rates with a 5-year CD at 1.80 APY. Anything over $100,000 gets an even better deal.
Look into OneWest Bank
OneWest gets top ratings for both its CD rates and customer service. With a $1,000 minimum opening deposit on a 1-year CD at 1 percent APY, OneWest is a popular choice. Its 5-year CD benefits a 1.60 percent APY, and both CDs are compounded daily.
Go to Bank of internet USA
While not quite as popular as the other banks on this list, Bank of Internet USA has highly competitive rates due to low overhead. Its 1-year certificate of deposit has 0.80 percent APY with a $1,000 minimum opening. If you can wait for five years before your CD matures, then the APY will turn into 1.60 APY. In both cases, interest is compounded daily for maximum return.
Go to EverBank
Opening a CD will cost $1,500 for somebody at EverBank, but the bank has some of the best customer service in the industry. The bank offers 0.81 APY on one year CDs and 1.65 APY on five year plans.
Best certificates of deposit No. 1 - Ally Bank
Ally was voted by Cash Magazine as the very best online bank, in part as a result of good CDs. With a 5 year CD, you can get a 1.59 percent APY, which is good. On top of that, you can 0.94 percent APY on a one year CD with no minimum required to open the account.
Nationwide Bank a good choice
The CD goods at Nationwide are pretty incredible. In fact, you can get 1 percent APY on a one-year CD with no minimum deposit. You can get better rates with a 5-year CD at 1.80 APY. Anything over $100,000 gets an even better deal.
Look into OneWest Bank
OneWest gets top ratings for both its CD rates and customer service. With a $1,000 minimum opening deposit on a 1-year CD at 1 percent APY, OneWest is a popular choice. Its 5-year CD benefits a 1.60 percent APY, and both CDs are compounded daily.
Go to Bank of internet USA
While not quite as popular as the other banks on this list, Bank of Internet USA has highly competitive rates due to low overhead. Its 1-year certificate of deposit has 0.80 percent APY with a $1,000 minimum opening. If you can wait for five years before your CD matures, then the APY will turn into 1.60 APY. In both cases, interest is compounded daily for maximum return.
Go to EverBank
Opening a CD will cost $1,500 for somebody at EverBank, but the bank has some of the best customer service in the industry. The bank offers 0.81 APY on one year CDs and 1.65 APY on five year plans.
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