Local Deals Offer Highest CD Rates
Small banks are paying local customers 2.5% or more for short-term certificates of deposit — beating the best nationally-available CD rates by almost half-a-point.
That’s because the highest CD rates continue to be offered through deals restricted to the local customers of community banks.
In most cases the best rates are on odd-term certificates of deposit — CDs that don’t mature in the traditional 6-, 12- or 24-months.
But they routinely:
Pay more than twice the national average of comparable, traditional CDs — a record-low 0.98% APY for 12-month CDs right now.
Beat the best nationally-available rates — currently 2.15% APY for a 12-month CD from OneWest Bank.
Here are just some of the deals you can find out there. In each of these examples the CDs must be purchased in person at a local branch.
2.55% APY on a 13-month CD with a minimum deposit of $100 from the Bank of Kirksville, which has eight locations in northeast Missouri.
2.50% APY on a 15-month CD with a minimum deposit of $500 from Enterprise Bank of South Carolina, which has 12 locations in South Carolina.
2.50% APY on a 13-month CD with a minimum deposit of $500 from Atlantic Southern Bank, which has 13 branches in Georgia and Jacksonville, Fla. (This deal is also available at the three Georgia branches of Sapelo Southern Bank, a wholly-owned subsidiary.)
Click here to compare these offers with the best CD rates from dozens of other banks in our extensive database.
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The Greatest Deals In Bankahistory
Happy Birthday to us!
Bankaholic is three this summer and we thought it would be a good time to look back and pick our 10 favorite, dare we say greatest, deals.
We combed through almost 600 posts to find everything from sky-high CD rates to the best gift for opening a new account — and it ain’t no stinkin’ toaster.
Savings accounts that paid 6%. Mortgages that cost only 4.3%. Credit cards that charged no interest for a year, or gave you a free airplane ticket just for signing up.
They all made the list. MORE
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