2012年9月13日星期四

Best Rates For Certificates of Deposit


As we have written quite often, finding best certificate of deposit rates is no small task. Our goal is to save you some time and point you in the right direction. The FOMC (ie Ben Bernanke) are still promising to hold rates down for an extended period of time. So here are some rates that may soften the blow a bit.

Nordstrom fsb's interest rates are not the highest, but their customer service excels. I've heard nothing but good comments from those that have opened up CDs. For customer service I would give them a 15 out of 10.:O) In addition, they have excellent bank financials. The bank basically supports the credit card business of the Nordstrom department store and given their clientele, they don't seem to be having too much trouble with loan losses. Their current profit is a whopping 15% of assets. You won't see that very often.

FDIC# 33497 -- Star Rating: 5 (*****). They are located in Arizona, but will take a CD from anywhere in the Us with proper documentation, including trusts.

Nordstrom fsb has a competitive 1-year term and okay 5-year. One of the big draw backs is their large early withdrawal penalty. Also, I'm sure the above URL looks strange, but believe me it will save you a lot of time trying to track down the right section for the CDs. That is another potential frustration. The website is designed to feature the store and credit cards. The CD and checking account info is kind of tucked away.

Current CD Rates -- Minimum: $100,000

1-Year: 1.30%

3-Year: 1.80%

5-Year: 2.30%

Current CD Rates -- Minimum: $50,000

1-Year: 1.05%

3-Year: 1.55%

5-Year: 2.05%

Flushing Savings Bank, FSB comes out with good deposit rate specials often and their recent offering will not disappoint. They have a 4-star rating and tied with their offering makes it look quite enticing. It is an online only application, but they will take funds from anywhere in the US.

FDIC# 16049, Star Rating: 4 (****). Penalty: 6-Month loss of interest (5-year CD)

They use their online identity for the CDs: igobanking [dot] com.

Flushing Savings Bank has a very strong 2-year and 3-year rate. There are some good and bad reviews out there. Some noted an easy time at the beginning and then subsequent CDs were more difficult. Primary frustration was a rate drop during the time it took to get the CD set-up and the bank not honoring the higher rate. Of course in a falling rate environment that is frustrating, but what if the rate had increased would they still complain?!?.

1-Year: 0.50%

18-Months: 1.50%

2-Year: 2.25%

3-Year: 2.25%

4-Year: 1.00%

5-Year: 2.50%

North American Savings Bank is another strong player in CD Rate late. Their financial health also looks really good, so your CD is more than likely going to last the term. It is an online only application and they will take regular personal funds from anywhere in the US. They use to take IRAs and trust accounts, but it was too much hassle for them.

FDIC# 9708. Star Rating: 5 (*****). Penalty: 6-Month loss of interest (5-year CD)

North American Savings Bank has a strong 14-month rate, but that is about it. There are other higher interest rates out there on the other terms.

14-Months: 1.51%

30-Months: 1.50%

3-Year: 1.70%

4-Year: 1.70%

5-Year: 2.05%




Chris Duncan is a FINRA Registered Representative. He works for Jumbo CD Investments, Inc., a leading CD research and placement firm. He specializes in helping clients find the highest CD rates nationwide. His clients include individuals, financial institutions, corporations, and public agencies. Visit us for Credit Union CD Rates

Also check out our new section of Featured Banks





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