Bank of Internet Raises CD Rates

CD rates higher? That's right, what seems to be a more frequent trend we are reporting that another bank, Bank of Internet, has raised their CD rates. Bank of Internet is an online bank based in San Diego.

The bank raised rates a couple of weeks ago to top E-loan's CD rates and did it again today. 12 month bank CD rates are currently at 1.32% with a CD yield of 1.33%. This is up from a rate of 1.26% and a yield of 1.27%.

The old 12 month rate was one of the best CD rates available and the new rate is even better. You can get this rate and yield on 12 month to 23 month certificate of deposit accounts.

I have to tell you its nice to report on higher CD rates since we've had to report on banks and credit unions lowering rates for the past several years.

The bank's 3 month to 5 month rate and yield is 0.35% which isn't one of the highest rates available. The bank's 6 month (6 to 11 month) CD rate is a great deal. The new 6 month rate is 1.14% with a yield of 1.15%. That rate is better than most 12 month CD rates at banks.

You can view a full list of Bank of Internet's CD rates and apply for a CD account at the bank's website: Bank of Internet CD Rates and CD Application.

Author: Brian McKay
July 16th, 2011

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