Currently, the five year CD rate at Bank of the West is 2.00% APY. It may be more beneficial to put money in a CD with different rates and lengths.
The rate for certificates of deposit depend on the amount of money and how long it is deposited for. 1 year CD's have about 1.3% with a $1,000 minimum, whereas 3 year CD's have 2%, and 5-year CD's have 2.75%.
Discover Bank currently offers a return of 3.7% on a minimum $2,500 investment for a 5-year CD rate.
Today, the average 5 year certificate of deposit carries a rate of 2.85%. This number comes from the overnight CD rate list on bankrate.com.
CD rates will vary anywhere from 1.3% for 1 year CD's up to 2.75% for 5 year CD's. Occasionally you will find a local bank with offers with an added incentive, in order to get your business.
WHAT BANK OFFERS BEST CD RATE ON 10,000.00 investment for 5 YEARS I was wondering if you got an answer to this question. I am looking for good rates for cd's myself.
the best rate is 5 percent
Certificates for Deposit (CD) rates are calculated by aggregating the accrued interest (calculated by multiplying the balance by the APY rate) for each step of the ladder.
Citibank offers a higher interest rate than Bank of America on a 5 year cd. Citibank's offering is almost double what Bank of America offers. That would make a huge difference over 5 years.
I advise you to put the $1600 in a 5-year CD. First compare bank CD rates and select the bank with the highest rate and that rate locked in for at least 5 years.
5 percent of 2000 on a 10-year CD from honor credit union is 100.
Most banks will have fairly similar rates when it comes to CD's. They will differ however on the requirements, minimum balance, early withdrawal penalty, and fees. So while the best rate may seem like the best bet, look at the CD requirements as well.
They refer to it as a 5 year survival rate because the statistics are gathered from an average of a 5 year period.