Top CD Rates

Bank of America currently has a special 5.20% APY CD available. It will only be available for a short time after this, so be sure to lock it in as soon as possible. This CD is also being advertised in San Francisco (see ad). It’s also available in Texas, Florida and New York. It might be a nationwide promotion; Please contact Bank of America to see if it’s available in your state (800-900-9000).

Countrywide bank currently has the highest CD rate available in the 6 month certificate category, with a 5.30% APY. They also offer 5.25% for 3 month CDs and 5.10% for 1 year CDs. Minimum deposit on all CDs is $10,000.

Countrywide is offering higher rates for business certificates of deposits, with 5.35% APY on their 6 month CDs and 5.30% and 5.15% for 3 and 9 month CDs, respectively.

Countrywide Bank has some of the best current CD rates available online, with rates ranging from 5.00% APY to a high of 5.40% APY for their 6 month CD. A look at their rate table shows some pretty high rates across the board. Minimum balance on Countrywide CDs is $10,000, with balances that can go up to $250,00 and higher.

Part of the reason Countrywide’s rates are so high is because of their recent troubles with the subprime lending crisis. However, if you stay below the FDIC insured $100,000, there shouldn’t be any problems.

WAMU currently has a 5.00% APY rate on their 6 month online CDs, and a 4.50% APY rate on 5 year CDs. While this is a pretty high rate, WaMu also has a great deal on their 5.00% APY savings account that would allow you to get a high return on your CD while being able to withdraw whenever you want. The caveat, of course, is that the rate on the savings account can go down while the CD is locked.

Minimum balance on all CDs is $1,000, and are only available online. Opening in person will yield lower rates, so it’s probably a better idea to open a CD online.