Looking to grow your money over the long term? Acacia Federal Savings Bank has some of the best CD rates for five-year certificates of deposit. The five-year CD rate is 3.59% or 3.65% APY (annual percentage yield). Acacia Federal Savings Bank CDs also:
- Have no fees to open or maintain an account
- Require a $500 minimum opening deposit
- Have penalty fees for early withdrawals
- Have free wire transfers to and from the account
You can open a certificate of deposit online. In many cases, online accounts offer the best CD rates around compared to stopping by a bank branch. You can elect to roll over interest payments or have them sent to you on a monthly, quarterly, or semi-annual basis. Interest can also be compounded daily, which results in more savings. Keep in mind that any fees paid may reduce CD rates earned.
Money deposited in a certificate of deposit is FDIC-insured. Funds are insured for up to $250,000 per depositor through Dec. 31, 2013. That insured amount returns to $100,000 per depositor on Jan. 1, 2014.
Acacia Federal Savings Bank also has competitive CD rates for shorter terms. But if you don’t think you’ll need your money over the next few years, a five-year CD may be a good choice.
- 6 Month CD 1.08 %
- 1-year CD 1.34 %
- 2-year CD 1.74 %
- Money Market Account 1.06 %
- Savings Account 1.06 %
- 30-year Fixed Mortgage 4.89 %
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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