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• AloStar Bank of Commerce 1 Year CD at 1.25%APY

  AloStar Bank of Commerce, an online bank based in Birmingham, Alabama, is currently offering a one (1) year CD at 1.25%APY with a minimum opening deposit of $1,000. Interest is compounded daily. AloStar Bank of Commerce one year CD offer beats other bank’s 12 month CD rate.

  The bank offers this very competitive 12 month CD rate in honor of their first year in business. It’s quite interesting because most banks doesn’t offer this kind of incentive to investors.

  If you are comfortable banking online, AloStar Bank of Commerce 12 month CD rate is something to think about. It tops the compiled best 12 month CD rates for April 2012.

  If you are concerned transacting with an online bank, you can speak to one of AloStar Bank’s Customer Service Representatives by dialing its toll free number. For other questions, you can check AloStar’s website FAQ where answers to some basic questions are posted.

  AloStar Bank of Commerce also offers a two (2) year CD at 1.40%APY.

   

   

   

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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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• Highest 12 month certificate of deposit rates for January 2012

  If you are looking for a short term certificate of deposit say, 12 months, below are the financial institutions offering the highest certificate of deposit rates for January 2012.

  1. Alliant Credit Union 12 month CD – 1.00%APY with $1,000 minimum required to open

  2. First Internet Bank 12 month CD – 1.00%APY. Also $1,000 minimum required to open

  3. Discover Bank 12 month CD accounts – 1.00%APY. Discover Bank requires a higher minimum amount to open the CD account of $2,500. You can view previous months certificate of deposit rates of the bank here.

  4. GoldWater Bank 12 month CD – 1.00%APY. Requires a much higher amount of $5,000 minimum to open

  The rest of the certificate of deposit rates offered are way below 1.00%APY.

  For example, Ally Bank offers 0.99%APY for a 12 month CD, but it has no minimum balance requirement. Ally Bank also offers a No Penalty CD, an 11 month term CD, with no minimum amount required to open at a rate of 0.91%APY. Please note that Ally Bank is an online bank and is ideal only for those who are comfortable banking online.

  You can compare the above certificate of deposit rates with what was offered in November 2011.

   

   

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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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