6% cd rates do they exist?
I find that people are always finding Money One Financial for 6% cd rates. The question is do they exist? Well I must tell you, there isn’t really any CD that we are aware of at the moment which is bring in a 6% return. While some banks have come close, the financial situation of the US economy just doesn’t allow for this nice of a return.
What does seem to be true however is the fact that you can find some high interest cd rates from banks that are offering it. but you will also find when you compare cd rates, that the ones that are for 3 year terms are going to be the only ones over 5% generally.
Some banks and institutions like Pentagon Federal Credit Union, Alta Vista Credit Union in Southern California, and maybe a few others do offer a rare CD with high interest, the only problem is many of them are private banks which require some restrictions. The best cd rates you are going to find at the moment will probably be with smaller banks that are struggling. While this is not always true, many small banks will do anything they can to survive the economy crunch by getting as many people as possible to get accounts with them.
As we mentioned before, you don’t have much to worry about. Who will have the highest cd rates this week? Stay tuned as we post them.
November 18th, 2008 at 2:41 pm
State Bank of India has the highest CD rates in the Country currently and they are FDIC insured. Their 6 month, 1 year, 5 year CD is at 4.06%, 4.32%, and 5.25% APY respectively.
http://www.statebank.com/cd.asp
December 5th, 2008 at 8:08 pm
A credit union in Washington, BECU (Boeing Employees Credit Union) is offering a 7.25% yield on new checking and savings accounts. You used to have to be an employee at boeing but now everyone (within a specific geographic location) can join.
Here is the link:
http://bankvibe.com/725-yield-on-savings-and-checking-deposits-through-becu/
January 2nd, 2009 at 12:50 am
Global credit union in Washington state pays 6.00%. In 2008 it was a $30,000 max deposit. Now the max deposit is only $10,000 but it is still paying 6.00% on the E-velocity checking account. Best deal in the country that I can find.
http://www.globalcu.org
January 24th, 2009 at 12:56 am
[...] banks that currently claim 6% CD rates are a joke. After the year 2008 it has become rare to even see a 5% Bank CD being promoted. For [...]
March 7th, 2009 at 3:37 pm
you can find 6% rates still fdic-insured on reward checking accounts but no CDs that i can find. bankrate.com and money-rates.com list reward checking accts