Even though high yield isn't very high anymore, you'll still want the very best rate of return available when you purchase a certificate of deposit. Your high-yield CD should also have an ideal load of attributes, from the correct period of term and minimum deposit to most frequent interest compounding and other advantages like rate bumping and no withdrawal fee. The following banks offer some of the very best certificates of deposit when judged by these criteria.
Ally Bank an excellent choice
You can get 0.94 percent interest on a one-year CD at Ally that is compounded at the optimal every day rate. There is no minimum required in the account and renewal can set as the CD reaches maturity. If you want a 5-year CD, you can get 1.59 percent APY, according to Money Magazine.
Check out Nationwide Bank
The CD products at Nationwide are pretty incredible. 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.
Go to OneWest Bank for a good deal
Without interest compounded daily at OneWest, you can get an excellent 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.
Greatest certificates of deposit No. 4 - Bank of Internet USA
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 every day for maximum return.
Go to EverBank
A 0.81 percent APY will be given on a 1-year CD at EverBank, though five years can get you 1.65 percent APY. The business is ranked very high for consumer service, so it might be worth the required $1,500 needed to open the CD.
Ally Bank an excellent choice
You can get 0.94 percent interest on a one-year CD at Ally that is compounded at the optimal every day rate. There is no minimum required in the account and renewal can set as the CD reaches maturity. If you want a 5-year CD, you can get 1.59 percent APY, according to Money Magazine.
Check out Nationwide Bank
The CD products at Nationwide are pretty incredible. 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.
Go to OneWest Bank for a good deal
Without interest compounded daily at OneWest, you can get an excellent 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.
Greatest certificates of deposit No. 4 - Bank of Internet USA
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 every day for maximum return.
Go to EverBank
A 0.81 percent APY will be given on a 1-year CD at EverBank, though five years can get you 1.65 percent APY. The business is ranked very high for consumer service, so it might be worth the required $1,500 needed to open the CD.
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