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If you can tie up your money for several years, City National Bank has certificate of deposit (CD) rates that are competitive in the current market. The bank has a five-year CD with a 3.5% annual percentage yield (APY). Other CD rates include:

• 3% APY for four to five years
• 2.5% APY for three to four years
• 2.25% for two to three years
• 1.5% for one to two years
• 1.25% for 182 days to 364 days
• 1% for 91 days to 181 days

The APYs for the CDs assume that the the interest rate remains the same for one year, any interest credited to your account remains on deposit, and the minimum daily balance requirement is maintained for a year.

You need to make a minimum investment of $500 to open a CD. Withdrawing money early from a CD results in a penalty. Online access to your account is free.

City National Bank is based in Newark, N.J. You can open a CD by visiting one of its branches in New York and New Jersey.

The bank also allows you to open a socially responsible CD and have the funds placed in the City National Urban Fund. Doing this allows your CD deposit to go toward loans to socially conscious projects in urban areas in New York, New Jersey, and Philadelphia.

Parents of babies born in Iowa hospitals can register their child for a chance to win a $1,000 College Savings Iowa 529 Plan. One winner of a 529 savings plan is randomly chosen each month.

All Iowa newborns are eligible to participate in the giveaway, but parents must register to be entered into the drawing. Sixty-six hospitals in the state participate in the program.

The Iowa 529 savings plan helps parents plan for college costs. People who open savings accounts through the program can choose from 13 investment options from Vanguard. Iowans also can deduct up to $2,800 of what they contribute to the savings accounts on their 2009 state tax return.

Withdrawals from 529s can be used to pay for qualified college education expenses such as tuition, books, and room and board. The money in a 529 savings plan can be used at any accredited college, university, community college, or technical training school in the U.S. or abroad.

Parents of newborns who don’t win a $1,000 account are still encouraged to begin saving for college early. “New parents have a lot on their minds, but saving with College Savings Iowa doesn’t take much time and is easy to do. They can open an account in about ten minutes with just $25,” Iowa Treasurer Michael Fitzgerald said in a statement.

H&R Block Bank has a 12-month certificate of deposit (CD) with a 2% annual percentage yield (APY).  CD rates can change at any time and aren’t guaranteed until a CD is opened. Other details of the offer include:

• Minimum opening deposit of $250
• CDs can be opened online
• Early withdrawal results in a penalty of 90 days interest
• CDs are insured up to $250,000 per depositor
• CDs can be opened in the name of a trust

You also can fill out an application for a CD by mail or by fax. Applications processed by mail can add an additional seven to 10 days to the processing time.

You can use more than one check to fund your CD if you open the account by mail. Only one financial institution can be used to fund a CD opened online.

H&R Block Bank offers CD rates for terms of 30 days up to five years. Interest earned on a CD can be paid out monthly, quarterly, or upon maturity. Interest automatically compounds in the account unless you request that payments be sent to you. Both individuals and businesses can open CDs.

SFGI Direct is offering a savings account with a 1.85% annual percentage yield (APY). The savings rate is accurate as of Dec. 18, 2009. Details of the offer include:

• $500 minimum deposit to open savings
• No monthly service charge
• Minimum balance of $1 to earn interest
• Open and fund account online

Make deposits and withdrawals online. You can transfer funds can between SFGI accounts or between SFGI Direct and other banking institutions. You can link only one external account to your SFGI high interest savings.

Interest on SFGI savings accrues daily and is compounded or credited to the account monthly. Initial deposits can’t total more than $25,000 and must be made electronically. It normally takes two business days for transfers between accounts to be completed. The bank does not allow wire transfers into the high interest savings account.

The bank only offers savings accounts for individuals, not businesses. It also does not offer individual retirement accounts (IRAs). When you open an individual or joint savings, you are not allowed to name a beneficiary.

SFGI is a division of Summit Community Bank in Moorefield, W.Va. The bank offers customer service online and by phone. Money deposited in SFGI Direct savings accounts is insured by the Federal Deposit Insurance Corp. (FDIC).

Two AmericaNet Bank deals offer higher than average interest rates. The bank’s Rewards Checking account offers a 4% annual percentage yield (APY) and the Mega Money Market Account offers a 2% APY.

AmericaNet is part of Oklahoma-based All America Bank, which has been in business since 1969.

Details of the free checking account offer include:

• Free online banking
• Free AmericaNet Bank Visa CheckCard
• Free daily email notification if checking account is overdrawn
• Free ATM transactions world-wide
• No minimum balance

The only requirements to get the 4% rate on the free checking account are to make 10 sales transactions with the Visa CheckCard and to receive all statements electronically. The 4% interest rate applies to account balances up to $10,000. Balances over $10,000 earn 1% APY.

Details of the money market offer include:

• Electronic statements
• Free AmericaNet Bank Visa CheckCard
• No monthly maintenance fee
• Free online banking
• No minimum balance

The money market rate of 2% APY applies to balances up to $35,000. Balances over that amount earn 1% APY. Money market accounts include six free withdrawals each month. Each withdrawal over that amount is subject to a $5 fee.

AmericaNet Bank allows you to open two Rewards Checking accounts and one Mega Money Market Account in your name. Money deposited in accounts is FDIC-insured.