CD Rates Increasing – More 5.00% CDs
July 24, 2008
The number of certificates of deposit with yields of 5.00% or more has increased.
The same high-yield certificates that were reported at Capital One are still available. The 60 month CD (5 Year) earns 5.00% annual percentage yield (apy), the 84 Month CD (7-Year) and 120 Months (10-Year) both earn 5.30% apy. The minimum deposit to open these CDs is $5,000.
If you are looking to deposit $100,000 or more, Capital One offers Jumbo Certificates with 5.00% apy on the 4-Year CD and 5.25% apy on the 5-Year CD. The 84 Month CD (7-Year) and 120 Months (10-Year) Jumbo Certificates earn the same as the regular CD, which is 5.30% apy.
Discover Bank has offered a great rate on its 5-Year CD since the beginning of July. With a minimum deposit of $2,500, their 5-Year CD earns 5.12% apy.
E-LOAN has kept rates on the 5-Year and 6-Year Certificate of Deposit steady and high at 5.01% apy for the 5-Year CD and 5.10% apy for the 6-Year CD. Minimum deposit to open is $10,000.
For those with $100,000 or more, E-LOAN has boosted the rate on the 5- and 6-Year Jumbo Certificates. Both Jumbo terms earn a super sized rate of 5.25% apy.
GMAC Bank added a 5.00% yield to their lineup at the end of June, then increased the rate on July 18. The rate on the 5-Year CD now earns 5.05% apy with a minimum balance of $500.
Finally, Third Federal Savings & Loan offers 5.00% annual percentage yield on both the 5-Year (60-Month) and 6-Year (72-Month) CD. Minimum deposit to open the CDs are $500.
