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Greatest certificates of deposit for first-time buyers

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QueeshieR's picture
Joined: 09.10.2013

Even though high yield isn't very high anymore, you'll still want the very best rate of return accessible whenever you invest in a cd. Your high-yield CD should also have an ideal load of features, from the right period of term and minimum deposit to most regular interest compounding and other advantages like rate bumping and no withdrawal penalty. The following banks offer some of the very best certificates of deposit when evaluated by these standards. Source of article:

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Check out Ally Bank


You can get 0.94 percent interest on a one-year CD at Ally that is compounded at the optimal daily rate. There is no minimum required in the account and renewal can set as the CD reaches maturity. If you need a 5-year CD, you can get 1.59 percent APY, according to Money Magazine.


Best certificates of deposit No. 2 - Nationwide Bank


The CD goods at Nationwide are pretty amazing. 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.


Get your CD at OneWest Bank


You need at least $1,000 to open a CD for 1 year at OneWest, but you can get 1 percent APY on it. For five years, you get 1.60 APY. These are all compounded every day, so that is good.


Next might be Bank of Internet USA


With interest compounded daily, a number of people like Bank of Internet USA. The Bank offers 1 year CDs at 0.80 percent APY compounded every day. If you need a five year plan, the interest is 1.60 percent APY.


EverBank a great choice


A 0.81 percent APY will be given on a 1-year CD at EverBank, though five years can get you 1.65 percent APY. The company is ranked very high for consumer service, so it may be worth the required $1,500 needed to open the CD.