Charles Schwab is one of the leading financial institutions that offer many avenues of investment for every investor. One of their popular products is the certificate of deposits or CDs. Schwab CD One Source is the name of the CD and it comes with many numerous features. These high yielding CDs offer a lot of flexibility. Varying term periods come with varying interest rates and the investor can choose an option that is best suited for their needs and personal preferences. It is also very easy to purchase the CDs. It can be purchased at any time of the day and any day of the week and this is a great convenience to customers. It can even purchased online by existing Charles Schwab account holders. Besides these features, they offer one of the top CD rates in the industry today and this makes it all the more popular.
The current Charles Schwab CD rates are 0.20% for a term of 4 to 6 months. The Charles Schwab CD rates for a period of 7 to 9 months is 0.30% APY and the rates are 0.45% for a term of 10 to 18 months. The Charles Schwab certificate of deposit rates for a period of 1.5 years to 2.5 years is 1.25% APY. The best part of these CDs is that they are all insured by FDIC and backed by the guarantee of Charles Schwab. This guarantee takes a lot of importance in this current economic scenario. These interest rates coupled with the features that come with it make it an attractive investment option for many people.
Here at Top CD Rates, we like to bring you the latest information, as it happens. It’s time to look at Bank of America CD rates, which we haven’t done in a while.
Bank of America is one of the largest banks in the United States. It did face some turbulent times in recent months but has managed to stay afloat and expand its business. Bank of America offers a number of investment options and certificates of deposit constitute a popular option.
Bank of America CD rates for the fixed high yield CD are as follows. The bank requires a minimum investment of $5,000 for CD and $2,000 for IRA accounts.
CD rates at Bank of America for a one year high yield promotional CD are currently accrued at 0.80% APY for general CD and 1.05% APY for IRA investment.
The certificate of deposit rates for a standard investment of 1-year will yield 0.65% APY whereas the 6-month investment is calculated at 0.35%. An 18-month investment will yield 0.85% whereas a 2-year investment will return 1.11%. A 3-year investment return s an APY of 2.01% and a CD of 4-years will also yield 2.01%. A 5-year CD yields the highest APY of 2.51% but the bank also offers a 10-year CD with an APY of 3.51%.
IRA investments yield the highest APYs at 3.76% for a 10-year investment. IRA also yields 2.75% for a 5-year investment and 2.25% for a 4-year CD.
Bank of America imposes penalties on early withdrawals and this rule is applied across all investments, including IRA investments. The bank can also limit the total investment amount to be less than $500,000 under special circumstances.
CD rates at ING Direct are generally at or better than the market standards in the US. The bank has however managed to attract customers due to its multitude of investment options and good customer services.
The company offers a complete online solution to customers where they can open their accounts without any delays. The certificate of deposit rates at ING Direct are calculated while keeping the national economic and financial factors in mind. All the rates are valid as of January 30, 2010.
ING CD Rates for an investment of six months returns an APY of 1.15%. A 9-month CD also offers the same rates at 1.15%. A 1-year CD at ING Direct returns an APY of 1.60%. An 18-month CD returns an APY of 1.50% for a basic investment of $1,000.
ING certificate of deposit rates for a 2-year CD are estimated at 1.50%. They are the same for a 30-month CD at 1.50%. Three year CD also offers an APY of 1.50%. A 4-year CD offers an APY of 1.75%. A standard investment in a 5-year CD will also return an APY of 1.75%.
ING Direct CD rates are the highest for four and five years of investment. ING does not offer the best rates as compared to some other companies. The company offers plenty of investment options other than the certificates of deposit. CD rates are subject to change as per the changes in national economic outlook.
Since we’re always looking for the Top CD Rates here, we thought we should have another look at Ally Bank CD rates, since they often have the top CD rates available.
Midvale, Utah-based Ally Bank has introduced some of the highest profit margins on investments. Ally CD rates are applicable on any type of investment, irrespective of the balance amount. The bank does not ask for any minimum balance at the opening of CD accounts.
Ally Bank CD rates are following generally fixed rates in recent years and the bank has started giving these certificates with an APY of 1.84% for a 12-month term. CD rates at Ally Bank for a 3-month CD will have an APY of 1.00%. A 6-month CD will return 1.40% APY and 9-months CD will return 1.20%.
Ally certificate of deposit rates increase with longer terms of investments. A 2-year certificate will return an APY of 2.19% whereas a 3-year certificate returns 2.49%. All of these CDs are offered under the high yield investment option of the company. These investments have higher rates than market average.
The bank offers top CD rates for 4-year and 5-year certificates are 2.74% and 3.10%, respectively. Ally bank also offers no penalty CD with a relatively higher APY for a 9-month term at 1.24%.
There is another option for investment. The online saving account returns 1.50% variable APY for a multitude of investments and term limits. Ally Bank also offers CDs for the money market accounts. They offer a variable APY of 1.50% for these accounts. There are no monthly fees and minimum deposits for money market accounts and they follow the general terms of investment for other CD accounts.
Here at Top CD Rates, we try to provide our readers the best CD rates available out there in the market today. Today we shall focus on Discover Bank CD rates especially since after an in depth analysis, we found that Discover CD rates are very high in both Interest and Annual Percentage Yield in comparison to several other well known banks such as Chase, National Average and even Bank of America.
Discover Bank offers 12 different terms ranging from 3 months to a period of 10 years. Rest assured, Discover Bank is FDIC insured promising safety and security to their customers.
Without further ado, here are the Interest CD Rates provided in Discover Bank according to the term: for 3 months the interest rate is at 0.75%, for 6 months the interest rate is at 1.00%, for 9 months it is at 1.20%, for 12 months it is at 1.84%, for 18 months it is at 1.88%, for 24 months and 30 months the interest rate is at 2.23%, for 3 years it is at 2.57%, for 4 years it is at 2.81%, for 5 years (the most popular chosen term in Discover Bank) the interest rate is at 3.25%, for 7 years it is at 3.39% and for the final term of 10 years the interest rate is at 3.63%.
Although the APY does not differ much from the Interest Rate, there is a slight difference which should be acknowledged. For terms of 3 months, 6 months and 9 months, the APY rates are exactly the same as the Interest rates. For the term of 12 months, the APY increases by 0.01% more than the Interest rate making it 1.85% instead of 1.84%. For 18 months, the APY is at 1.90%, for 24 months it is at 2.25%, for 30 months it is at 2.25%, for 3 years it is at 2.60%, for 4 years it is at 2.85%, for 5 years the APY is at 3.30%, for 6 years it is at 3.45%, for 7 years it is at 3.45% and at the final term of 10 years the APY is at 3.70% making a difference of 0.07% compared to the Interest Rate of the same 10 year term.
February 24, 2010 
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