America First Credit Union CD Rates Utah

America First Credit Union in Utah has a great deal going on for their bank CD’s. This is on a 13 month special. Minimum deposit is $500. They also have other terms which are pretty competitive. There is a 3.25% APY for 12 months and 3.40% APY for 24 months. For those of you looking for the magic 5% or 6% you aren’t going to find it. This is the next best thing.

If you should need the money, one of the nicer things about this Credit Union is that it has very small penalties for early withdrawal.

The account is easy to open and can be done online within a few short minutes. America First Credit Union also offers high yield savings accounts and of course free checking. They have some of the best CD rates at this time. They have branches in Salt Lake City and other locations in Utah. Feel free to check with a representative more on these bank rates. These CD Rates are good as of 2/10/09.

Mutual Bank 16 month 3.50% CD Rate

Mutual Bank is still running their CD rate special at 3.50% for their 16 month Bank CD. This is pretty good considering that there is a lot of rate cutting still going on with banks online and offline. This rate is good on both the regular and IRA CD.

Once the CD gas matured you can receive money by cashier’s check at no charge. If you do decide to go with a faster method of payment such as a wire transfer, there will be a $25 fee or you can simply go the easy route of having the money put into your Mutual Bank money market or checking account.

Mutual Bank has branches located in several major states including Illinois, Texas, New York and New Jersey. This is just one of the many Texas CD rates which are currently performing well.

One thing that may be of concern to you is the fact that Bankrate gave ratings to Mutual bank which are very low. This data was taken back in September of 2008, so ratings may not have been updated yet for 2009. We will continue to keep you up to date. Please remember these CD rates are current as of 1/27/2009 and may be subject to change by the bank as well as restrictions and rules.

6% CD Rates

Most banks that currently claim 6% CD rates are a joke. After the year 2008 it has become rare to even see a 5% Bank CD being promoted. For those of you who are looking for that elusive rate, you might want to consider taking what you can get now. So the real question is what is a Good Bank rate? Anything above 4% is a pretty good CD rate at the moment.

Not too many banks are promoting as heavily as they were before the new year, and won’t be for a while. A lot of banks have also received bailout money, but the largest cause of all the rates going down are the cuts the Feds made at the end of last year. So how does that affect you?

Well since the banks can use Fed money at such a low amount, they are not going to pay out high interest on CD rates to get your money as they once needed to invest their money. That means they are going to offer you a really low CD Rate, and if you take it then great. If not they have a steady amount of money they can get from a much larger source to reinvest themselves. Until that changes there probably won’t be any 6% bank Cd rates for a long time or even 5% CD rates for that matter.

Your best bet is to be very patient, and wait for bank specials. This can many times come in the form of online banks. Online bank CD rates have much lower overhead, and can thus offer you a lot better of a return on your money. Keep your chin up and stay sharp. Go with short term CD rates, and many times an odd number of months on a term can be a lot higher.

Frontier Bank 6 Month CD Rates

Frontier Bank has a nice competitive Bank CD which is for only a 6 month term. Currently they offer 3.50% APY for the 6 month CD, but also offer higher CD rates for a 9 month Bank CD at 3.90% APY, but it will require that you deposit $50,000 minimum in order to receive that rate. If you want to get a nice rate on a 1 year CD you will need to invest $25,000. For slightly lower you can deposit $500 for a 1 year Bank CD rate and get a 3.70% APY.

It does look like you can’t just get this rate simply by filling out an application online but will need to visit a branch location. the following list is some of the main branch locations for Frontier Bank.

If you live in Washington State then the cities that have branches include Port Angeles, Vancouver, Seattle, Redmond, Bremerton, Everett, Tacoma and Mount Vernon. For those living or working in Oregon, the cities of Salem and Portland also have bank branches for you to get this great CD rate deal while it lasts.

Check with Frontier bank on any other special CD rate offers they may have in the near future. This Bank CD rate is good as of January 22 2009.

Amcore Bank CD Rates in IL and WI

Amcore bank has some decent cd rates currently. Two promotion deals for 4% APY for 39 months and 3.50% APY for 10 months. If you do not have a checking account with direct deposit you will be investing $25,000. If you do have a checking or savings account with Amcore bank then you will only have to invest $10,000. This bank promotion is probably only good till Thursady as reported on by another cd rates blog.

There are multiple locations in Illinois if you are interested in investing. the cities where branches are located are Princeton, Chicago, Dixon, Belvidere,  Schaumburg, Wheaton, Elgin, Aurora, Peru, Lincolnshire,  Oregon, Freeport, Sterling, Joliet and Rockford. If you are living in Wisconsin, then there are several cities which Amcore bank branches are located including Portage,  Monroe, Darlington, Wauwatosa and Baraboo.

Bankrate doesn’t give to great a rating for Amcore Bank, so you might want to decide if this is a good move for you as an investment. Bank CD rates have lost there touch for 2008, and 2009 forecast for high cd rates are not looking as great as they could be. If you are locked in to a long term Bank CD from 2008, then you are probably pretty happy with what you are seeing as current rates.

Getting Good CD Rates at Insecure Banks

What happens when you purchase a CD with a high rate at a bank that looks to be performing poorly? Well to begin with, banks try their best when they know that financially they are going through a tought time to get your busines. Where does that leave you with your money?

Getting the highest cd rates at banks that seem to be under performing, or appear as if they are about to go under does not spell bad news for you the investor. You do not lose your money if that’s what you were thinking. As a matter of fact, the FDIC covers all bank cd rates with a coverage of 250,000 dollars this year. This is in light of the fact that more banks will be going under.

People want to feel safe about their investments. If thye can’t feel good about the stock exchange then they should feel better about a Bank CD.

There are various companies which look to be a hopeless cause. One of which is Gmac bank. The government had to decide how to deal with them, and it has been far from good. Would it be wise to invest money into Gmac now? Probably not, but if you already did put money in, you can be assured that the FDIC will cover you.

There are still a lot of CD rates which you can find that are high for banks that are performing at or above standards, so don’t worry.

Maturing CD Rates

One of the things that you should always consider is how your CD will mature, and also how you plan on reinvesting the money, or using the money that has increased your investment.  A bank CD that is short may yield a lower return, but many times they may yield a high return. The hope with a short CD is that you will stay with the bank you have obtained that great cd rate from and reinvest your money again with them.

The maturing point of a bank cd is the point where it has reached the available point to take the interest as well as the initial money you have invested. Most banks will offer to reinvest the money again for you in the same CD or automatically do it without asking. However the downside with this is that you may not be getting the highest cd rate that you received before. The highest cd rates are usually promotional, so they don’t just continue after the maturity date of the CD.

The best thing to really look at then is the amount of time you are putting your money in for. get with a reputable bank like Bank of America, or snother local bank that you know is trustworthy with your money. Some 12 month cd rates are a good investment, but just remember the longer you have on the term, the more money you usually can make off of it. next we will discuss what the ups and downs are of getting good CD rates on short term.