CD Rates | Find the Best CD Rates Today
Best CD Rates| RatesORama.com has a List of the Best CD rates Available
Certificates of deposit (CDs) are one of the safest investments available. Make sure to only invest in CD accounts that are insured by the Federal Deposit Insurance Corporation (FDIC). When you invest in a CD your money is locked in a time deposit and you gain access to your funds when the CD matures. You can gain access sooner but you will pay an "early withdrawal penalty" which can be as high as all the interest earned depending on the CD term.
EverBank CD rates were recently increased and are very competitive. In addition to listing the new CD rates we are also writing a review of EverBank’s CD products. EverBank is headquartered in Jacksonville, Florida, and has physical locations and not just an online presence. Everbank is part of EverBank Financial Group which was acquired last June by TIAA.
In addition to banking, Everbank Financial Group also has other divisions offering a wide variety of financial services. Everbank offers commercial finance, provides financing to mortgage originators, wealth management and other financial services.
EverBank offers several different deposit products including savings accounts, checking accounts, and certificates of deposit. Bank CD rates and all other deposit rates are moving higher these days because the Fed is increasing the fed funds rate. The bank’s certificates of deposit include several different types and terms which are discussed in more in detail below.
EverBank Online Banking and Banking App
The bank’s online banking services are robust and secure, providing customers with many tools for banking. Customers can bank online using the company’s website and their mobile banking app.
The bank’s customers can easily transfer funds between internal accounts and external linked accounts. In addition, customers can also pay bills online and monitor all types of account activity. Frankly, these days there is no need to ever visit a bank branch to do any kind of banking.
Everbank Certificate of Deposits
The bank offers many different types of certificates of deposit including their Yield Pledge CDs, Bump Rate CDs, LIBOR Index CD and CDARS Service CDs. Of course the rate on these types of CDs are not as much as regular CD rates because you’re also paying for a service. Each CD product is listed below.
EverBank Yield Pledge CDs
EverBank Bump Rate CDs
LIBOR Index CDs
The bank’s traditional CDs have a fixed rate for the entire CD term. The bank’s LIBOR Index CD returns have a variable rate because the CD product is directly tied to the performance of the 3-month London Interbank Offered Rate (LIBOR). The LIBOR Index CD is tied to the 3-month LIBOR rate, as it moves, so too does the rate on your CD. Since we are in a rising interest rate environment, you get the benefit of earning more.
CDARS Service CDs
The bank’s CDARS Service CDs uses the CDARS network of banks. As part of the CDARS network of banks, EverBank will distribute your funds into CDs at other banks in the network. This network allows you to have FDIC insurance beyond the $250,000 maximum. You can read more about the CDARS Service at: How CDARS Works.
EverBank CD Rates
Listed below are a recent slew of EverBank CD rates and the recent rate changes. As you can see, all the CD rate changes were higher.
You can compare EverBank CD rates with other bank and credit union CD rates by searching our rate lists at CDRates.RatesoRama.com.
CD rates inched slowly higher again, continuing the uptrend of the past year and a half. Short term CD rates increased even though the Federal Reserve didn’t increase interest rates during their meeting last week. With the recent increase in rates, the top 1 year CD rate on our list hit a new high for 2017
The outlook for short term rates continues to be good in 2017 because the Fed is expected to increase interest rates once more this year. The Fed is likely to increase the fed funds rate 0.25 percent during the December meeting, which will put more upward pressure on shorter term CD rates.
Right now, the top 1 year rate on our rate list is at 1.61 percent and a yield of 1.62 percent. Two banks are currently offering that rate and yield, EverBank and My e-BAnC by BAC Florida Bank. The top 2 year CD rate on our list is now at 1.85 percent, currently offered by Popular Direct and Congressional Bank.
You can see the top short term and long term CD rates listed below.
Current Top CD Rates by CD Term
You can also browse though our CD rate lists to find the top CD rates.
There has been a slew of deposit rate increases on our rate lists since the Fed increased the fed funds rate. The Fed increased the rate June 14 and as a result, six banks have increased rates on 24 deposit products.
The largest CD rate increase was on Sallie Mae’s 36 month regular and jumbo CD accounts. Sallie Mae’s 3 year CD rates were increased 30 basis points from 1.60 percent to 1.90 percent. The largest variable deposit rate increase was on Heritage Bank’s MMA account, which was increased 19 basis points from 1.01 percent to 1.20 percent.
The trend for higher interest rates will continue in 2017 because the Fed is expected to increase the fed funds rate once more this year. The Fed said they would increase their rates 3 times in 2017 and they’ve already had two increases. Since the beginning of 2017, many banks and credit unions have increased their CD rates. We’ve seen the best 1 year CD rates on our rate table move from around 1.25 percent to around 1.50 percent and 6 month CD rates increased from 0.90 percent to 1.15 percent.
Top Short Term CD Rates
3 Month CD Rates
6 Month CD Rates
9 Month CD Rates
12 Month CD Rates
You can search for and compare CD rates from banks and credit unions by searching our rate lists at CDRates.RatesoRama.com.
M.Y. Safra Bank, headquartered in New York City, just increased their CD rates across the board. Some of the increases were rather sizeable. The biggest increase was on M.Y. Safra Bank 2 year CD rates, which was increased 65 basis points.
You might not have heard of M.Y. Safra Bank but they have been around since 2000 in one form or another. The bank used to be known as T. Rowe Price Savings Bank but changed their name to M.Y. Safra Bank in December 2013.
My Safra Bank CD Rate Changes
Listed below are the most recent CD rate changes at My Safra bank.
M.Y. Safra Bank Review
M.Y. Safra Bank, provides both personal and business banking products. The bank offers deposit and transaction services, including interest bearing checking accounts, interest bearing money market deposit and savings accounts and interest bearing certificates of deposits.
The bank also provides personal lending solutions including fixed and adjustable rate mortgages for residential properties and home equity lines of credit. Other personal loans include secured or unsecured lines of credit.
On the business side of real estate, the bank provides commercial and business financing for owner-occupied commercial real estate and working capital lines of credit. In addition to commercial real estate financing, this includes multi-family, underlying co-op, commercial condo, mixed use, and flex space loans.
Last week the Federal Open Market Committee (FOMC) met and increased the fed funds rate by 0.25 percent. This is good news for savers since there is a direct correlation between the fed funds rate and CD rates.
4 of the 5 banks increased their CD rates after the Fed increased the fed funds rate. In fact, of the 30 CD products that rates were changed, all 30 of the changes were higher.
You can see a complete list of the CD rate changes below. You can also compare these CD rates with other bank and credit union CD rates by using our rate tables at CDRates.RatesORama.com.
RatesORama.com Average Mortgage Rates