GE Capital Retail Bank CD Rates (Formerly MetLife Bank)
MetLife Inc. finally closed on the deal to sell their depository business, MetLife Bank, to GE Capital this year. Before the sale, MetLife Bank was offering some of the best CD rates around on certificate of deposit account balances of $25,000 or more. Usually when a bank offering very high CD rates is sold or put into receivership by the FDIC, certificate of deposit holders are shortchanged because existing CD rates are not honored.
In the case of GE Capital buying the deposit business of MetLife, GE Capital not only honored rates that were already locked in by depositors but also continues to offer the same CD rates for new certificate of deposit accounts. Right now GE Capital Retail Bank along with Colorado Federal Savings Bank is offering the highest CD rates for 1 year certificates of deposit.
Current 12 month CD rates at GE Capital Retail Bank ($25k min) and Colorado FSB are at 1.04 percent with an APY of 1.05 percent. The current FDIC national average 12 month CD rate is considerably less at 0.22 percent. The current 12 month FDIC average jumbo rate this week is also lower at 0.23 percent.
GE Capital CD account balances of less than $25k also earn rates that are higher than the FDIC average rates. 1 year CD rates for account balances of $15k to $24,999 earn a rate and yield of 0.95 percent, account balances of $2k to $14,999 earn a rate and yield of 0.85 percent.
Other certificate of deposit rates at GE are also competitive and higher than the average rates but are not the best rates around. For example, 3 month CD rates at GE are currently at 0.25 percent (account balances of $2k to $$14,999) while the best CD rates on our rate list for 3 month CDs are at 0.45 percent.
You can get a complete list of current rates here: CD yields at GE Capital Retail Bank:
You can compare these rates with other CD rates at banks by using our rate tables below. If you're interested in opening a CD account at GE Capital Retail Bank, you can do so online at the bank's website here: GE Capital Retail Bank CD Application, by calling 1-866-226-5638, or by downloading and mailing in an application.
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