The Baldwin State Bank has a 1-year certificate of deposit (CD) with a 1.51% annual percentage yield (APY) for balances of $20,000 and up. Other CD rates for 1-year deposits are 1.36% for deposits of $5,000 to $20,000 and 1.16% for under $5,000. Other tiered CD rates and terms include:

• 3 months - 0.85 APY for $20,000 and up, 0.7% APY for $5,000 to $20,000, and 0.55% APY for under $5,000
• 6 months - 1.06% APY for $20,000 and up, 0.9% APY for $5,000 to $20,000, and 0.75% APY for under $5,000
• 18 months - 1.56% APY for $20,000 and up, 1.41% APY for $5,000 to $20,000, and 1.26% APY for under $5,000
• 24 months - 1.87% APY for $20,000 and up, 1.71% APY for $5,000 to $20,000, and 1.56% APY for under $5,000
• 30 months - 2.07% APY for $20,000 and up, 1.92% APY for $5,000 to $20,000, and 1.77% APY for under $5,000
• 36 months - 2.48% APY for $20,000 and up, 2.33% APY for $5,000 to $20,000, and 2.17% APY for under $5,000
• 48 months - 2.69% APY for $20,000 and up, 2.53% APY for $5,000 to $20,000, and 2.38% APY for under $5,000

CD rates are current as of Aug. 30, 2010. CDs require a minimum of $1,000 to open. Early withdrawals are subject to penalties. The bank is based in Baldwin City, Kan.

First Southern State Bank of Stevenson, AL has competitive certificate of deposit (CD) rates this week. The bank has a 13-month special CD rate of 1.6% annual percentage yield (APY). The 13-month CD requires a minimum opening balance of $1,000. Interest on the CD is paid monthly or at maturity. Other CD rates include:

• 1.15% APY for 6 months
• 1.51% APY for 1 year
• 1.6% APY for 18 months
• 1.81% APY for 2 years
• 2.27% APY for 3 years
• 2.52% APY for 4 years
• 2.73% APY for 5 years

The CD rates are current as of June 2, 2010. CDs require a minimum opening deposit of $500. Withdrawing funds early results in a penalty of one month of interest for CDs with terms of 12 months of less. The penalty is three months interest for CDs with terms greater than 12 months.

First Southern State Bank also has a regular checking account with no monthly fees as long as you maintain a minimum balance of $500. Balances that fall below $500 are charged a monthly fee of $6, and balances below $250 are charged $7. The minimum deposit to open the regular checking account is $50.

Open a 5-year certificate of deposit (CD) at Melrose Credit Union and you could earn a CD rate of 3.29% annual percentage yield (APY). You must open a savings account to become a member of the Briarwood, NY-based credit union. There are no other restrictions for joining so it doesn’t matter where you live or work. Other requirements for opening an account include a $1 one-time membership fee and $25 minimum opening deposit.

CDs require a minimum investment of $5,000. If you are opening an IRA certificate, the minimum opening balance is $4,000. You earn dividends only when you maintain a minimum balance of at least $500. Dividends are compounded on a quarterly basis and can be transferred to another share account.

CD rates are subject to change at any time so check with Melrose Credit Union for the most current information. CD rates as of June 30, 2010, were:

• 1.76% APY for 1 year
• 2.02% for 2 years
• 2.52% for 3 years
• 2.78% for 4 years

Money deposited at Melrose Credit Union is insured up to $250,000 per depositor by the National Credit Union Administration.

If you live in the central New York region, and need a place to park a large sum of money for a while, take a look at money markets at Geddes Federal Savings and Loan Association. The savings and loan has a money market rate of 1.9% annual percentage yield (APY) for balances of $50,000 and up. That money market rate is slightly lower than when we last wrote about Geddes Federal Savings and Loan, but is still above the average 0.9% being offered by other money market accounts. Savings rates are current as of May 24, 2010.

Details of money market deposit accounts include:

• Balances of $1,000 to $49,999 earn 0.9% APY
• Must have $25 minimum balance to earn interest
• 24-hour online banking

The savings and loan also offers competitive certificate of deposit (CD) rates. CDs requires a minimum deposit of $500 and there is a penalty for early withdrawal. CD rates include:

• 1% APY for 6 months
• 1.15% APY for 9 months
• 1.25% APY for 12 months
• 1.4% APY for 18 months
• 1.85% APY for 24 months
• 2.25% APY for 36 months
• 2.55% APY for 48 months
• 2.9% APY for 60 months

Geddes Federal Savings and Loan Association also offers IRA CDs that require a minimum deposit of $25.

Only individuals and business located within  150 miles of Syracuse, NY are eligible to open deposit accounts at Geddes Federal Savings and Loan.

Open a high yield certificate of deposit (CD) with Ally Bank and earn a 1.49% annual percentage yield (APY) for 12 months. The CD rate is fixed and other rates and terms are available. Ally Bank CD rates as of June 23, 2010, are:

• 0.74% APY for 3 months
• 1.14% APY for 6 months
• 1% for 9 months
• 1.64% APY for 18 months
• 2.29% APY for 3 years
• 2.5% APY for 4 years
• 2.95% for 5 years

Interest is compounded daily and paid monthly on Ally Bank (CDs). The bank offers a 10-day best rate guarantee if you fund your CD within 10 days of opening or renewing it. The guarantee allows you to receive the best rate offered during that period.

Other details of the CD offer include:

• No minimum opening deposit
• No monthly fees
• Automatic renewal upon maturity
• FDIC insured up to $250,000 per depositor
• Earned interest can be received as income

When you withdraw money early from a CD, you pay a penalty fee equal to 60 days’ interest. The penalty fee is waived if the account holder dies or is judged to be mentally incompetent. No penalty CDs are not subject to early withdrawal fees.

You cannot make additional deposits to a CD during the term. When it reaches maturity you have a 10-day grace period to deposit additional funds.