Wilmington, Delaware-based Aurora Bank has competitive interest rates on certificates of deposit (CDs). The CD rate for a 1-year term is 1.37% annual percentage yield (APY). CD rates are tiered, based upon the term and account balance. CD rates at the bank include:
- 1.16% APY on balances up to $99,999 for 6 months
- 1.54% APY on balances up to $99,999 for 18 months
- 1.73% APY on balances over $100,000 for 2 years
- 2% APY on balances up to $99,999 for 3 years
- 2.25% APY on balances over $100,000 for 4 years
- 2.48% APY on balances up to $99,999 for 5 years
The CD rates are current as of Oct. 7, 2010. Check with the bank for other CD rates and terms.
To open a CD, you need a minimum of $1,000. CDs can be combined with an IRA Retirement Builder, which combines the tax benefits of an IRA with the security of a CD. Interest is compounded daily and posted monthly.
Aurora bank has been in business since 1921 and serves over 340,000 customers. Deposits at the bank are insured by the Federal Deposit Insurance Corp. to the fullest extent allowed by the law.