CD Interest Rates

Wachovia Bank has some pretty high rates on their special promotional CD, with a 5.05% APY yield and 5 month term. Minimum deposit for this certificate is $5,000.

This CD is only available online. Other online CDs have terms ranging from 3 to 24 months, and yields from 3.16% to 4.25%. Visit Wachovia’s rate table for more information.

Wells Fargo Bank has some of the lower CD rates available for their online and offline CDs. Currently, their highest CD rate is a 5 month 4.40% APY certificate. Aside from that, they also offer 4.20% and 4.10% for 5 year and 4 year CDs, respectively. Minimum deposit on their CDs is $5,000.

Wells Fargo also offers a range of customizable CDs, so you can choose how many months you want the deposit to be.

Umbrella Bank is currently offering 5.20% APY on their 3 and 6 month certificates. Initial deposit of $1000 required on all CD accounts. Umbrella Bank also offers IRA CDs.

UmbrellaBank.com is the Internet banking division of New South Federal Savings Bank. New South Federal is a member of the Collateral Family of Companies, which has been in the financial services industry since 1933.

Bank of America is offering an online only High Yield CD with a 5.10% APY rate and a 4 month maturity term. Minimum balance on this certificate of deposit is $5,000. You must open this account through Bank of America’s online website.

They are also offering a Risk Free CD with a 4.85% APY and 8 month maturity term. This account features:

• The ability to withdraw funds prior to the maturity date without penalties2
• A minimum deposit of $5,000 and a short 9 month term
• Get preferred CD rates when you have an Prima® checking account
• Invest up to $500,000 in one or more Risk Free CD’s

While both these rates were previously on the low end, after the Fed’s recent rate cuts they are beginning to look more competitive. In addition, if you already have a Bank of America banking account, the added convenience may make it worth looking into.

Wachovia is advertising a 5.41% APY on a 6-month CD or CD IRA. The CD minimum deposit is $5,000, and the IRA CD minimum is $2,000. You must be a new or existing checking account customer. This doesn’t seem to be listed at Wachovia’s website. This deal seems to be offered in South Florida. There are advertisements in the Daytona Beach, Florida newspaper and in the Dallas, Texas newspaper.

Eloan.com is currently offering some of the highest CD interest rates available for 3 month and 5 year maturity brackets, at a high 5.55% APY. They also offer some pretty high certificate of rates for 2 year, 3 year, and 4 year CD rates at 5.41% APY. Minimum deposits on all certificate of deposits is $10,000.

They also offer a fairly high yield on their savings account rate, with 5.25% APY. Minimum deposit for this account is $5,000. Here’s some more information on their products:

• No hard credit inquiry. They only use Experian to check for identity.
• No inactivity fee or small balance fees.
• If balance falls below $500 for 90 days, they may close your account
• No IRA accounts for savings or CDs
• No sign-up bonus

Bankrate.com’s review gives E-LOAN a 3/5 rating. All deposit products offered through E-LOAN will be opened through Banco Popular North America (BPNA), a New York state chartered bank insured by the FDIC that is the direct parent company of E-LOAN. Your deposits with Eloan are FDIC insured.