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If you’re looking for some decent 1 year or 2 year CD rates, you may want to turn to Nexity Bank and check them out.  Most of their rates as of 3/7/09 are pretty competitive and fall in the top 10. 

Here’s what they have to offer:

• 90 day:  1.86% APY
• 6 month:  2.51% APY
• 9 month:  2.51% APY
• 12 month:  2.86% APY
• 24 month:  2.85% APY

All CDs require a minimum deposit of at least $1,000.

Nexity does offer other banking options such as a money market or savings account but the rates are barely above 1%.

To get more information on these rates, visit NexityBank.com.

If you’re looking to set your money aside in a money market account, you may want to look into Flagstar’s Express Money Market Account.  Since ratings have taken a big dip lately, Flagstar has remained competitive to offer you a great top 5 rate.

As of 3/6/09, Flagstar is offering a 2.65% APY with a minimum deposit of $1.

Here’s what you get with the account:

• No minimum balance.
• No monthly fees.
• Check writing options.
• Online Banking.
• FDIC insured.
• Debit card.
• Free Checks for life.

If you’re looking for a money market account with a great rate that remains in the top 10 consistently, you may want to check out Flagstar’s products.  They are also offering great CD rates which can be found here.

For more information on Flagstar’s money market rate, visit Flagstar.com/promo/moneymarket.

Thanks goes out to reader “writer” for e-mailing about this.

I know the rates sound way too good to be true.  You can get these rates but there’s a catch.  You can only deposit up to $2,000 but if you have a small amount to deposit, you may want to check this out.

Paragon is offering the following 2 options:

9-month CD at 6% APY - you must deposit at least $500 and can’t put in more than $2,000.

9-month CD at 8% APY with an auto loan of $10,000+ - once again, you can’t deposit more than $2,000 but if you need an auto loan, you may want to check out their rates, they seem to be pretty competitive.

Other requirements include a direct deposit of $100 per occurrence and you must sign up for free eStatements and “Go Green”.

You can read all the terms and conditions here.

For more details on this offer, visit ParagonFCU.org or call 1.800.222.8877.  Paragon is insured by the NCUSIF up to $250,000.

Hudson City Savings Bank is offering some pretty competitive rates for their short term CDs that you may want to check out.  They opened up an online banking division that allows anyone from across the United States to open an account up.

Here are the rates as of 3/4/09:

• 91 day:  2.25% APY
• 6 month:  2.50% APY
• 12 month:  2.75% APY

All CDs require a minimum opening deposit of $5,000.

Hudson City is also offering an Internet Savings Account with a rate of 2.40% APY.  This account requires a $2,500 minimum deposit.

Signing up is easy and only takes about 10 minutes.  You’ll need your driver’s license, home address, social security number, a savings/checking account number to link to and you must be a US citizen.

Hudson City Bank is FDIC insured and has a 4 /5 Bankrate safe and sound rating.

For more information on these accounts, visit HCSBOnline.

Imperial Capital Bank is offering some attractive CD rates for the month of March.  Not all of their rates are #1 quality but may be worth checking out. 

• In order to open up a CD, a deposit of $2,000 is required.
• No monthly maintenance fee.
• Early withdrawal penalty.

Below are the rates as of 3/3/09:

• 3 month:  1.85% APY
• 6 month:  2.35% APY
• 9 month:  2.30% APY
• 12 month:  2.65% APY
• 18 month:  2.45% APY
• 2 year:  2.75% APY
• 3 year:  2.95% APY
• 5 year: 3.10% APY

All of Imperial Capital Bank’s products are FDIC insured and holds a 2 / 5 Bankrate safe and sound rating.

For more information on these rates, visit ImperialCapitalBank.com.