Best CD Values For Your Money -


Best CD Values For Your Money

By Cornelius Nunev

Even though high yield isn't very high anymore, you'll still need the best rate of return accessible whenever you purchase a cd. Your high-yield CD should also have an ideal load of features, from the correct 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 best certificates of deposit when evaluated by these standards.

Best certificates of deposit No. 1 - Ally Bank

Voted best online bank by Cash Magazine in Oct. 2012, Ally has a one-year CD with an annual percentage yield (APY) of 0.94 percent, compounded at the optimal daily rate. No minimum is required to open the account, and automatic renewal could be set for when the CD reaches maturity. A CD with 5-year maturity nets 1.59 percent APY, compounded every day.

Go to Nationwide Bank for an option

The CD products at Nationwide are pretty remarkable. 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

OneWest gets top ratings for both its CD rates and consumer service. With a $1,000 minimum opening deposit on a 1-year CD at 1 percent APY, OneWest is a popular choice. Its 5-year CD features a 1.60 percent APY, and both CDs are compounded every day.

Greatest certificates of deposit No. 4 - Bank of Internet USA

Interest is compounded daily at Bank of Internet USA that offers 0.80 percent APY for a 1-year CD and 1.60 percent APY for a five year plan.

EverBank a great way

Opening a CD will cost $1,500 for somebody at EverBank, but the bank has some of the best customer service in the industry. The bank offers 0.81 APY on one year CDs and 1.65 APY on five year plans.

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