Saturday, October 8, 2011

Best Jumbo CD Rates in the US

Where can you find the best jumbo CD rates in the US? Rates get lower and lower everyday. But a hand full of banks and credit unions seem to be keeping their rates just above the rest. If you don't have CD accounts with this institutions already, now maybe the time.

Here are a few to check out.

Alliant Credit Union -- Alliant has consistently maintained very competitive CD Rates. The 1-year is 1.30%, 2-year is 1.70%, and the 5-year is 2.20%. You can join this credit union by first becoming a member of the National PTA if you don't meet their normal requirements. This costs $25, but for Jumbo CDs, that isn't a huge cost when your earnings for the 1-year CD are about $150 per $100,000 above the closest bank rate. Many credit unions are also pushing their free checking and debit cards as some larger banks are starting to charge for them.

Aurora Bank, FSB -- Aurora has a 1.15% for 1-year. Since they are a bank, there is no association or membership requirements to worry about. Through their online registration, they will accept funds from anywhere in the US. You do have to be able to prove your identity though. But that is true, across the board anyway. their 2-year CD rate is a 1.35% and the 5-year is 2.07%.

Ally Bank -- If you haven't heard of them already, you may be living on under a rock. They have spread themselves all over the internet, TV, and even radio. They have tried to recreate themselves as a no-nonsense bank which for the most part has worked. One of their most talked about features is their 60-day Early Withdrawal penalty on 5-year CDs. This the lowest penalty that I'm aware of. Their 1-year rate is 1.09%. The 2-year is 1.27% with a bump-up feature, and the 5-year is 2.03%.

Pentagon Federal Credit Union -- Another credit union with good CD rates. You can gain access to their membership through the National Military Families Association. Which is kind of cool. You can help out an organization dedicated to helping families of the Military and gain access to a great financial institution. They call their CDs, Money Market Certificates of Deposits. Not really sure why, they are just like a bank CD. Their 1-year interest rate is 0.99%, the 2-year CD is 1.25%, the 5-year is 2.25% (one of the highest in the country) and they have a 7-year at 2.75%.

I hope these are helpful and will enable you go gain a little more interest over what your local bank may be offering. I know my local MegaBank only pays like a paultry 0.50%, so certainly worth it to move some funds. Best of luck with your US Jumbo CD Rate search.

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