Certificates of deposit, or CDs, are a popular, low-risk method of investment, and finding the best CD rates will help you get the most from your money. The following organizations offer competitive rates, giving you plenty of options to choose from.
1. AmTrust Direct
Chase offers 2.25% on a 120-month CD. However, it requires a minimum deposit of $10,000. Other CD rates, including those only requiring a $1,000 minimum deposit, range from .20%-1.25%.
3. Bank of America
While most CDs require you to pay a penalty if you withdraw your money before the end of the term, Bank of America's "Risk-Free" CD allows you to remove your money from the CD at any time with no penalties. With a CD rate of .30%, this flexibility will make giving up a few tenths of a percent in interest worthwhile for some investors. Bank of America's more traditional "High-Yield" CD clocks in at a 1.20%, with a $10,000 minimum deposit.
4. U.S. Bank
U.S. Bank offers a special online rate of 2.23%, but you must apply online and deposit between $1,000 and $249,999. Other rates range from .05% to 1.39%, depending on whether you invest for one or 60 months. Deposits can be as low as $500.
Citibank offers a 6-month CD with a rate of .15%. Other CDs feature terms from three months to five years, with rates ranging from .15& and 1.01%.
6. Fifth Third Bank
Fifth Third Bank offers a promotional rate of 1.24 on a 60-month CD. Other rates fall on the lower side, ranging from .05% to 1.05%, although CDs are available with terms as short as seven days, allowing for more flexibility.
7. Wells Fargo
Wells Fargo offers "featured rates" up to 1.15%, depending on your state of residence. Outside of these specials, however, rates hover at .05%.