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Wednesday, January 13, 2010

Best CD Rates with FDIC - Survey by Term

Bob Brinker is certainly correct when he says US rates are very low. The top rates for CDs this week are at Pentagon Federal Credit Union (fondly known as PenFed CU) for a 7-year certificate of deposit that currently pays 3.75%% APY. In last month's survey, PenFed paid 4.00% for the same CD term.

For shorter term, Colorado Federal Savings Bank has a 1-year CD with a 2.00% annual percentage rate.

Both CDs compare well with 1-yr and 7-yr US Treasuries (today's rates) that currently only pay 0.35% and 3.22%, respectively. Both CDs and treasuries are backed by the US government. With CDs, the backing by the US is limited to FDIC & NCUA rules to $250,000 per name on the account per institution (there are ways to get FDIC and NCUA for many times $250,000) while the amount guaranteed is unlimited for US Treasuries. See: With rates so low, banks will try to sell you their annuity products. Make sure you read our article "Beware of Annuities."

The table below shows the best CD rates for other terms. If that table is hard to read, then try reading the original at Very Best CD Rates.

Highest CD Rates Survey as of 1/13/09

Rate (APY)
(Click link for Full Rate Sheets)
Vanguard Daily
Vanguard Prime Money Market Fund
Vanguard Tax Exempt
Vanguard Tax Exempt Money Market Fund
FDIC Daily Savings
Colorado Federal Savings Bank
=> Full Rate Survey <=
High Yield MM
Bank of Internet USA
6 Month CD
Ascencia Internet Bank
1 Year CD
Colorado Federal Savings Bank
18 - Month CD
Colorado Federal Savings Bank
2 Year CD
Colorado Federal Savings Bank
3 Year CD
National Bank of Kansas City
4 Year CD
National Bank of Kansas City
5 Year CD
OneWest Bank, FSB; Pasadena, CA
7 Year CD
Pentagon Federal CU
10 Year CD
Discover Bank
Vanguard Money Market Rates shown for Reference

If your browser shows small text, then view the original at Very Best CD Rates.

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