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• Best 12 month CD rate for May 2012

  A 12 month or 1 year CD is still the best option for one with limited resources.  You will only have 1 year of waiting until the next move of whether or not to to invest in a short term or long term CD. And, when money is tight you can also make easy withdrawals. However, when you withdraw your funds early, banks normally charges a fee.

  For May 2012, 12 month CD rates are not quite that attractive for one to be convinced to invest in a 12 month CD, but there are a few banks that offer the best 12 month CD rate, namely:

  1. Doral Bank’s 12 month CD rate for May 2012 remains the same at 1.15% APY. This was the bank’s 12 month CD rate in April. The bank requires a minimum deposit of $1,000. It has a 1 star rating from bankrate.com’s Safe & Sound Rating.

  2. Key Source Commercial Bank – 1.15%APY. The minimum deposit requirement is $5,000.

  3. CIT Bank – 1.08%APY. The bank’s minimum deposit requirement is quite high, which is $25,000. However, it has a sound rating (4 star rating) from bankrate.com’s Safe and Sound Rating.

  4. AloStar Bank of Commerce, which previously offered a 1 year CD at 1.25%APY is now only offering 1.06%APY. The minimum deposit required remains at $1,000.

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• Doral Bank Direct 12 month CD at 1.15%APY

  Doral Bank Direct is offering a 12 month CD at 1.15%APY with a minimum deposit of $1,000. The bank’s CD rate is effective April 11, 2012, which is subject to change without notice. If you are looking for the best 12 month CD rate then this may be right for you. As an online arm of Doral Bank, Doral Bank Direct offers this 12 month CD online or, you can do so also, by mail. It’s your pick.

  You will take comfort of your deposits knowing that it is FDIC insured as Doral Bank Direct is a member of FDIC. Deposits with the bank are insured up to $250,000.

  If you have a short-term goal then a 12-month CD is the smart way to go as your money will not be tied up for a longer period of time although in a CD you can withdraw your money anytime if you are willing to pay a penalty.

  With Doral Bank Direct, CD interest is compounded daily and credited quarterly and, if selected, may pay monthly, semi annually or annually. You can also withdraw your CDs interest earnings without penalty.

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• 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.

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• Best Certificate of Deposit Rates 12 months September 2011

  Searching as to which bank offers the best certificate of deposit rate? Below are the best certificate of deposit rates for a 12 month CD.

  1. AloStar Bank – 12 months CD at 1.21%APY. $1,000 is the minimum required to open. Also, it offers a 6 month CD at 1.05%APY that requires $1,000 minimum opening deposit.

  2. Discover – 12 months CD at 1.15%APY. Requires $2,500 minimum opening deposit.

  3. giantbank.com – 12 month CD at 1.15%APY. Also requires $2,500 minimum opening deposit.

  4. Ally Bank – 12 month high yield CD at 1.14%APY. No minimum deposit is required.

  5. GB - 12 month CD at 1.14%APY. Requires $5,000 minimum opening deposit.

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