Even though high yield isn't really very high anymore, you'll still want the 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 length of term and minimum deposit to most frequent interest compounding and other benefits like rate bumping and no withdrawal fee. The following banks offer some of the very best certificates of deposit when assessed by these requirements.
First off is 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.
Nationwide Bank a good choice
There are better rates at Nationwide than a ton of other places, particularly if you get a large CD of $100,000 or more. Any deposits up to $9,999.00 on a 5-year CD will get a 1.80 APY. The 12-month CDs have no minimum deposit and get 1 percent APY too.
Get your CD at OneWest Bank
Without interest compounded daily at OneWest, you can get a great deal. A one-year CD gets 1 percent APY while a five year gets 1.60 percent APY, though a $1,000 minimum is required.
Bank of Internet USA an option
While not quite as well known as the other banks on this list, Bank of Internet USA has highly competitive rates due to low overhead. Its 1-year cd 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.
Greatest certificates of deposit No. 5 - EverBank
Opening a CD will cost $1,500 for somebody at EverBank, but the bank has some of the very best consumer service in the industry. The bank offers 0.81 APY on one year CDs and 1.65 APY on five year plans.
First off is 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.
Nationwide Bank a good choice
There are better rates at Nationwide than a ton of other places, particularly if you get a large CD of $100,000 or more. Any deposits up to $9,999.00 on a 5-year CD will get a 1.80 APY. The 12-month CDs have no minimum deposit and get 1 percent APY too.
Get your CD at OneWest Bank
Without interest compounded daily at OneWest, you can get a great deal. A one-year CD gets 1 percent APY while a five year gets 1.60 percent APY, though a $1,000 minimum is required.
Bank of Internet USA an option
While not quite as well known as the other banks on this list, Bank of Internet USA has highly competitive rates due to low overhead. Its 1-year cd 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.
Greatest certificates of deposit No. 5 - EverBank
Opening a CD will cost $1,500 for somebody at EverBank, but the bank has some of the very best consumer service in the industry. The bank offers 0.81 APY on one year CDs and 1.65 APY on five year plans.
About the Author:
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