Bank Deals, CD Rates

Doral Direct Bank has a 12-month personal certificate of deposit that earns 1.4 percent annual percentage yield (APY). The CD rate is current as of March 23, 2011, and can change at any time. Details of the certificate of deposit offer include:

• $1,000 minimum opening deposit
• Must maintain minimum daily balance of $1,000 to earn effective CD rate
• Interest is compounded daily
• Withdraw credited earnings without penalty
• Early withdrawal penalties
• Insured by Federal Deposit Insurance Corp. (FDIC)

CD rates and terms are available for six months to 60 months and include:

• 0.75 percent APY for six months
• 0.75 percent for nine months
• 0.75 percent for 18 months
• 1 percent for 24 months
• 1.25 percent for 36 months
• 1.25 percent for 48 months
• 1.25 percent for 60 months

You must be a citizen or permanent resident of the United States to open an account. CD accounts can be opened online or by mail by residents of all 50 states. Doral Bank Direct is the online banking services division of Doral Bank a subsidiary of Doral Financial Corp. Doral Bank has operations in Puerto Rico, New York, Florida and Oregon.

Pacific Mercantile Bank has a 1-year certificate of deposit with a 1.26 percent annual percentage yield (APY). The Costa Mesa, Calif.-based bank also has other CD rates and terms, including:

• 0.4 percent APY for 3 months
• 1 percent APY for 6 months
• 1.41 percent APY for 18 months
• 1.48 percent for 24 months
• 1.48 percent for 36 months
• 1.48 percent for 60 months

Interest rates are current as of April 26, 2011, and are subject to change at any time. CD rates are fixed for the term upon opening an account. Interest is compounded daily and is credited to the account at maturity or according to an interest payment option you select when opening an account.

Certificate of deposit accounts have no monthly fees. Withdrawing money early from a CD may result in a penalty. To open a CD you need a minimum deposit of $10,000 for non-IRA accounts. To open an IRA certificate of deposit you need a minimum of $7,500. You can make three deposits into a CD before maturity if the term is six months or longer. Funds in Pacific Mercantile Bank accounts are insured by the Federal Deposit Insurance Corp. (FDIC).

CNBBankDirect has a high-yield savings account that earns interest on all balances above $1. The annual percentage yield (APY) on the savings account is 1.2 percent as of Jan. 11, 2011. The interest rate is variable and can change after an account is opened. Details of the high-yield savings account include:

• Minimum opening deposit of $1
• No monthly maintenance fee
• Open account online
• Insured by the Federal Deposit Insurance Corp.

You can also open a high-yield CD at CNBBankDirect. CD rates include 1.35 percent APY for 12 months, 1.5 percent APY for 18 months and 1.65 percent APY for 2 years. Certificate of deposit terms include:

• Must have a CNBBankDirect high-yield savings account
• Minimum opening deposit of $25,000
• Maximum of $250,000 per CD
• Interest can be compounded back to the CD account or transferred to an existing CNBBankDirect savings account

There is a penalty to for early withdrawal of funds from CDs. The penalty is 90 days interest on the amount withdrawn for CDs with terms of 1 year or less, and 180 days interest on the amount withdrawn for terms over 1 year.

CNBBankDirect is a division of Citizens National Bank of Bluffton, Ohio.

Aurora Bank has competitive CD rates for terms ranging from 6 to 60 months. The certificates of deposit have tiered interest rates. CD rates at the bank as of Feb. 28, 2011, include:

• 1.09 percent annual percentage yield (AP) for 6 months for $1,000 to $99,999
• 1.11 percent APY for 6 months for $100,000 and up
• 1.26 percent APY for 1 year for $1,000 to $99,999
• 1.28 percent APY for 1 year for $100,000 and up
• 1.39 percent APY for 18 months for $1,000 to $99,999
• 1.42 percent APY for 18 months $100,000 and up
• 1.53 percent APY for 2 years for $1,000 to $99,999
• 1.56 percent APY for 2 years for $100,000 and up
• 1.85 percent APY for 3 years for $1,000 to $99,999
• 1.88 percent APY for 3 years for $100,000 and up
• 2.09 percent APY for 4 years for $1,000 to $99,999
• 2.13 percent APY for 4 years for $100,000 and up
• 2.42 percent APY for 5 years for $1,000 to $99,999
• 2.46 percent APY for 5 years for $100,000 and up

Opening a certificate of deposit requires a minimum deposit of $1,000. Interest is compounded daily and posted monthly. CDs renew automatically at maturity.

Capitol View Credit Union has a 36-month certificate of deposit with a 2.22 percent annual percentage yield (APY). The CD requires a minimum deposit of $2,500. The credit union has other rates and terms. CD rates are current as of Jan. 19, 2011.

You can qualify for the following CD rates with a minimum deposit of $2,500:

• 1 percent APY for 12 months
• 1.51 percent APY for 24 months
• 2.52 percent APY for 60 months

The following CD rates are for a minimum deposit of $10,000:

• 1.36 percent APY for 12 months
• 1.86 percent APY for 24 months
• 2.52 percent APY for 36 months
• 2.83 percent APY for 60 months

The credit union has other certificate of deposit products, including CD rates for minimum deposits of $25,000. You can also open a CD for an IRA.

Capitol View Credit Union is based in Des Moines, Iowa, and has been in business since 1944. Employees of the state of Iowa and their family members are eligible to join. Other small employee groups may be approved for membership from time to time. The application procedure includes making a minimum deposit of $25 to open a Share Savings account, which is required for membership.