I often get e-mails asking me about banks that are rated high and I can understand with today’s economy condition and with the 23rd bank failing in the past week, you probably want to know the bank’s star rating.
At gotalkmoney.com, we use Bankrate.com’s star rating system. Their safe and sound system assesses the financial condition of the banks. The star system ranges from “NR” to a 5 star, meaning it has a superior rating. To get more information on these star definitions, visit Bankrate’s star rating defintion page.
For the week of 12/7/08, here are the banks with a 5 star superior rating –
Capital One Banking ($5,000 min.)
| 6 months** | 2.96% | 3.00% |
| 1 year | 3.44% | 3.50% |
| 18 months | 4.02% | 4.10% |
| 2 years | 3.92% | 4.00% |
| 30 months | 3.92% | 4.00% |
| 3 years | 3.92% | 4.00% |
| 4 years | 4.64% | 4.75% |
| 5 years | 4.97% | 5.10% |
| 7 years | 5.12% | 5.25% |
| 10 years | 5.54% | 5.70% |
Discover Bank ($2,500 min.)
| Term | Interest Rate | APY1 |
|---|---|---|
| 3 months | 2.30% | 2.32% |
| 6 months | 2.85% | 2.89% |
| 9 months | 3.26% | 3.31% |
| 1 year | 3.70% | 3.76% |
| 1½ years | 4.00% | 4.08% |
| 2 years | 4.05% | 4.13% |
| 2½ years | 4.11% | 4.19% |
| 3 years | 4.22% | 4.31% |
| 4 years | 4.35% | 4.44% |
| 5 years | 4.78% | 4.89% |
| 7 years | 5.02% | 5.14% |
| 10 years | 5.08% | 5.21% |
Unfortunately, if you’re were looking for more than 2 banks, you’re going to have to look at other banks that have a rating less than a five. There are plenty of banks that have a four star rating and are just as good. To get more information on Capital One’s CD rates, visit their website at CapitalOne.com/directbanking and for more information on Discovers CD rates, visit them at DiscoverBank.com.
- 6 Month CD 0.60 %
- 1-year CD 0.92 %
- 2-year CD 1.47 %
- Money Market Account 0.37 %
- Savings Account 0.60 %
- 30-year Fixed Mortgage 4.27 %
Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
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If you know of any bank deal that we haven't featured on our blog yet, we would love to hear from you.
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