Before the Federal Reserve lowered the Fed Funds Rate to 1.00%, I bought a 4.30%, 1-Year CD at Wachovia Bank. Banks have to pay the US government 5.0% to get money from Treasury Secretary Hank Paulson's "troubled asset relief program" or TARP for short. Rather than pay the government 5.0% for TARP money, they are better off bringing in new customers with high CD rates despite the low Fed Funds and US Treasury rates.
Comerica Bank has a special 4.00% APY 1-year CD with FDIC insurance up to $250,000. Details:
Comerica Bank has a special 4.00% APY 1-year CD with FDIC insurance up to $250,000. Details:
- 4.00% APY1
- 12 month term
- $2,500 minimum deposit
- Checking account required
- 800-589-1400
-
Funds are FDIC insured to the maximum amount allowed by law.
You can also get a 4.00% 1-Year CD at Wachovia Bank with no checking account restriction with only a $1,000 minimum deposit.
Bankrate.com lists the best 1-year CDs for today, but it does not include Wachovia Bank or Comerica Bank so it pays to look around.
From Bankrate.com:
| RATE | APY | MIN. DEPOSIT | |
| VirtualBank Palm Beach Gardens, FL | 4.35 | 4.45 | 10000 | |
| Corus Bank Chicago, IL | 4.36 | 4.45 | 10000 | |
| Flagstar Bank Troy, MI | 4.33 | 4.40 | 500 | |
| Midvale, UT | 4.27 | 4.36 | 500 | |
| E-LOAN Pleasanton, CA | 4.27 | 4.36 | 10000 | |
| State Bank of India New York, NY | 4.25 | 4.32 | 5000 | |
| Omni National Bank Atlanta, GA | 4.16 | 4.25 | 5000 | |
| Advanta Bank Corp. Salt Lake City, UT | 4.16 | 4.25 | 10000 | |
| Pacific Mercantile Bank Costa Mesa, CA | 4.13 | 4.22 | 10000 | |
| Imperial Capital Bank LaJolla, CA | 4.12 | 4.20 | 2000 | |
| EverBank Jacksonville, FL | 4.07 | 4.15 | 1500 | |
| UmbrellaBank.com Birmingham, AL | 4.02 | 4.10 | 1000 | |
| AIG Bank Wilmington, DE | 3.98 | 4.06 | 2500 | |
| Columbus, OH | 3.97 | 4.05 | 500 | |
| Stonebridge Bank Exton, PA | 3.92 | 4.00 | 500 | |
| California First National Bank Irvine, CA | 3.93 | 4.00 | 5000 | |
| IndyMac Federal Bank Pasadena, CA | 3.92 | 4.00 | 5000 | |
| Discover Bank New Castle, DE | 3.85 | 3.92 | 2500 |
New Federal Deposit Insurance (FDIC) Limits:
Congress has temporarily increased FDIC deposit insurance from $100,000 to $250,000 per depositor through December 31, 2009. Changes have also been made to other account types.
Congress has temporarily increased FDIC deposit insurance from $100,000 to $250,000 per depositor through December 31, 2009. Changes have also been made to other account types.
- US Treasury Rates at a Glance
13-week, 5, 10 and 20-year charts. - Libor Rates at at Glance
==> Very Best CD Rates with FDIC <==