She holds the Certified Financial Education Instructor (CFEI) certification issued by the National Financial Educators Council. Libby Kane, CFEI, is the Executive Editor for Personal Finance Insider, Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money Insider readers already know and love. If you aren't sure you can leave your money alone for the length of a CD, consider a high-yield savings account instead. When you put money in a CD, you know upfront how long that CD will last (like six months, one year, or three years) and in most cases, you can't remove your money before then without paying a penalty. First Internet Bank of Indiana 1 Year CD: 5.48% APYĪ certificate (also called a CD at banks), is a savings product best used for getting a guaranteed return on short-term savings you won't need to use in the near future.
NASA Federal Credit Union 15 Month Share Certificate: 5.45%.NASA Federal Credit Union 9 Month Share Certificate: 5.65%.While the credit union is offering the highest rate right now, other banks and credit unions aren't far behind: If you aren't able to join Credit Union One of Oklahoma, you have plenty of other options for earning high rates on CDs. Then you have to open a savings account with $25. You're also eligible to join if you work or are a member of one of 40 companies in the state. To become a member, you must live, work, worship, or go to school in one of the following Oklahoma counties: Canadian, Cleveland, Logan, McClain, Oklahoma, or Pottawatomie.
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See Insider's guide to the best CD rates > How to get the highest interest rate on your savingsĬredit Union One of Oklahoma is a credit union, not a bank, meaning only certain people can join and open accounts. Read Our Review A looong arrow, pointing right Credit Union One of Oklahoma is only the second institution to break 6%, but it's not unlikely that more bank and credit unions will follow. In recent months, 5% has become the new normal for CDs.
Interest rates on savings products like CDs and high-yield savings accounts have been steadily increasing over the last couple of years. Even so, Old Point National Bank's promotional rate has now expired. Until now, Old Point National Bank in Virginia had claimed the title of the highest CD rate, offering 6.02% on a 6-month CD. Credit Union One of Oklahoma has a $2,500 minimum requirement for opening this certificate. A share certificate is what credit unions call a certificate of deposit, or CD. More CD rates are surpassing 6% interest.Ĭredit Union One of Oklahoma, an institution that serves the greater Oklahoma City area, is offering 6-, 12-, and 18-month share certificates with an interest rate of 6.167% APY (Annual Percentage Yield). You make a small down payment, then agree to pay off the rest in installments over a few weeks or months.By clicking ‘Sign up’, you agree to receive marketing emails from InsiderĪs well as other partner offers and accept our You apply and are usually approved in seconds for what’s basically a short-term loan.
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