Top Dozen 6 Month CDs - April 2007

Come April and our Certificate of Deposits (CDs) have matured. The tax refunds are already pouring in. So it is time for the next round of creating CDs for our CD Ladder. Well the next step is to research the current CD rates. We did that without further ado. The summary of our research is provided below for your perusal.

CD Period: 6 months

Top CDs with Minimum Deposit <= $500!

• Ascencia
• APY: 5.40%
• Min Deposit: $500
  
• Rate Chart
• Bankrate Rating: 4 star
• Stonebridge Bank
  
• APY: 5.30%
• Min Deposit: $500
• Rate Chart
• Bankrate Rating: 2 star
• GMAC Bank
  
• APY: 5.15%
• Min Deposit: $500
  
• Rate Chart
• Bankrate Rating: 5 star
• IngDirect
• APY: 5.00%
• Min Deposit: $1
  
• Rate Chart
• Bankrate Rating: 3 star

Top CDs with Minimum Deposit = $1000!

• Umbrella Bank
• APY: 5.45%
• Min Deposit: $1000
  
• Rate Chart
• Bankrate Rating: 2 star
• National Bank of Kansas City
  
• APY: 5.40%
• Min Deposit: $1000
  
• Rate Chart
• Bankrate Rating: 4 star
• Nexity Bank
• APY: 5.40%
• Min Deposit: $1000
  
• Rate Chart
• Bankrate Rating: 4 star
• Washington Mutual
  
• APY: 5.40%
• Min Deposit: $1000
  
• Rate Chart
• Bankrate Rating: 3 star
• Amtrust Direct
  
• APY: 5.36%
• Min Deposit: $1000
• Rate Chart
• Bankrate Rating: 2 star

Top CDs with Minimum Deposit > $1000!

• IndyMac Bank
• APY: 5.50%
• Min Deposit: $5000
  
• Rate Chart
  
• Bankrate Rating: 2 star
• Virtual Bank
• APY: 5.44%
• Min Deposit: $10000
  
• Rate Chart
  
• Bankrate Rating: 4 star
• Imperial Capital Bank
• APY: 5.40%
• Min Deposit: $2000
  
• Rate Chart
  
• Bankrate Rating: 3 star

That concludes our 6 months CD research for this month. Our recommendations based on the amount (principal) to be invested are:

• Less than $500: Get an Orange CD at 5.00% APY
• $500: Get an Ascencia CD at 5.40% APY
• $1000: Get an Umbrella CD at 5.45% APY
• >$1000: Get an IndyMac CD at 5.50% APY

In the recent past we have had CDs with INGDirect, Ascencia and IndyMac. Our experience with them has been excellent. Their products gave us the promised goodies along with excellent customer service.

This week we shall set up new CD accounts for our CD ladder. We shall keep you posted about our experiences. Till then we wish Happy CD Laddering to all!

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