Doral Bank Direct, the online arm of Doral Bank, is offering a nine (9) month personal CD at 0.98%APY. This nine month CD is ideal for those who are looking for short-term CDs to meet short-term financial goals.
The bank requires at least $1,000 minimum opening deposit and it is likewise required that you maintain a daily balance of the same amount to earn the APY. Interest is compounded daily and credited quarterly. The good thing is you will not be penalized if ever you withdraw your credited interest earnings.
In addition, you do not have to worry if you miss to renew your CD as it renews automatically at maturity at the original term you have selected. Deposits at Doral Bank Direct are FDIC insured. In other words, your deposits are insured up to $250,000.
You can compare this 9 month CD rate offer of Doral Bank Direct with the best CD rates offered by other banks for this month of August.