Best Bank 12 month CD Rate for November 2011

If you are serious about building your IRA CD or CD portfolio, you  may have been searching the net all the while only to find out your efforts are going to waste. Finding the best IRA CD rate or the best CD rate can be time consuming, unless you are loyal to your bank to which you will just accept any IRA CD rate or CD rate offer they may have.  However, if you are someone that will never settle for the second best, then you have come to the right place.  Check and compare with the best IRA CD rates for October 2011.

For November 2011, the best IRA CD rate or the best CD rate comes from banks who offer online banking.

Here are the banks that offer the best 12 month IRA CD rate or the best 12 month CD rate offer for November 2011:

  • MidFirst Direct High Yield Online CD at 1.10%APY. The rate applies to CDs opened online. The rate structure is fixed and interest is compounded daily. The bank requires $1,000 minimum amount to open, but note that there is a penalty for early withdrawal. MidFirst Direct also offers a 6 month high yield online CD at0.90%APY with $1,000 minimum requirement.
  • Ascencia, a division of PBI Bank, CD at 1.04%APY. $500 minimum is required to open. Interest for this CD is fixed and compounded monthly.

  • Ally Bank, which offers a high yield IRA at 1.03%APY, also offers a high yield CD at 1.00%APY. The bank requires no minimum deposit requirement and interest, which is fixed, is compounded daily. Ally Bank also offers an 11 month No Penalty CD at 0.95%APY with no minimum amount to open. Also, other banks offering a 1.00%APY are First Internet Bank, OneWest Bank, AIG Bank (Signature CD), Discover (CD Accounts), Colorado Federal Savings Bank and Goldwater Bank. First Internet Bank and OneWest Bank requires $1,000 minimum, AIG Bank and Discover requires $2,500 minimum and Colorado Federal Savings Bank and Goldwater Bank requires $5,000 minimum. OneWest also offers a 9 month CD at 0.90%APY with $1,000 minimum, same thing with Discover. The only difference is that Discover requires $2,500 minimum.
  • Aurora Bank CD at 0.97%APY. The bank requires $1,000 minimum to open.
  • Same thing with Ally Bank’s 11 month no penalty CD at 0.95%APY, AloStar offers the same CD rate but for a lower term. AloStar Bank of Commerce offers 0.95%APY on a 9 month CD. With AloStar, you can renew your CD account earlier compared with Ally Bank CD.

It pays to look around as to which bank offers the best IRA CD rate or the best CD rate. The benefit you can reap from your effort is worth the while. While IRA CD rates are low at this time, still CDs are the safest investment option.

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