Regular certificates of deposits or regular CDs are still the most viable investment option for most people. The reason is simple, you have easy access to your funds whenever you need it. The only downside is that the earlier you withdraw, the lesser your earning potential. And, unlike an IRA CD, a regular CD is taxable. A regular CD pays interest for as long as you commit your funds to the CD.
Here are our top ten 12 month CD rates for June 2013:
1. GE Capital Retail Bank 12 month CD rate – 1.050%
2. Doral Bank 12 month CD rate – 0.960%
3. Colorado Federal Savings Bank 12 month CD rate – 0.950%
4. EH National Bank 12 month CD rate – 0.950%
5. Home Savings Bank 12 month CD rate – 0.950%
6. My e-BAnC by EBAC Florida Bank 12 month CD rate – 0.950%
7. Ally Bank 12 month CD rate – 0.940%
8. AloStar Bank of Commerce 12 month CD rate – 0.900%
9. Barclays 12 month CD rate – 0.900%
10. Virtual Bank 12 month CD rate – 0.900%
As in previous offers, the bank offers these 12 month CD rates with a minimum deposit requirement. Of the above-named financial institutions, it’s GE Capital Retail Bank that requires a high minimum deposit of $25,000.
It is given that CD rates are pretty low at this time and you could get stuck with a low interest CD when interest rates are rising. The best bet is to go for a savings bond. Review your options and how much and for how long you want to put your money to a particular investment.