Dime Savings Bank continues to have high mid term and long term certificate of deposit rates:

• 12 months           0.70% APY
• 15 months           0.85% APY
• 18 months           0.90% APY
• 2 years               1.25% APY
• 3 years               1.55% APY
• 4 years               2.00% APY
• 5 years               2.50% APY
• 7 years               3.00% APY

You can start enjoying this highest CD rates when you make an initial deposit of $500 to open an account. You can also manage your account at your own convenience by enrolling to online banking. Current CD rates are subject to change without prior notice.

In case you decide to withdraw money before the maturity date, you will have to pay for the early withdrawal fee. The earnings of this money in the bank is compounded daily and paid on a monthly basis or on the maturity date. The bank will automatically renew your certificate of deposit account once it matures, so make sure to inform the bank if you want to withdraw your money at least 10 days after the maturity date.

You can take advantage of this top CD rates by completing the application form online. You can also call customer service hotline in case you have other questions with regard to current certificate of deposit rates or requirements that you will be needing to open an account thru 800-321-3463.

The bank has offices located in the cities of Williamsburg, Whitestone, Westbury, Valley Stream, Sunnyside, Soundview, Port Washington, Midwood, Merrick, Marine Park, Long Island City, Kings Highway, Jackson Heights, Hillcrest, Greenpoint, Glen Oaks, Garden City Park, Flushing, Cedarhurst, Brooklyn Heights, Boro Park, Bensonhurst, Bellmore, Bayside, and Bay Ridge in the state of New York.

Dime Savings Bank was established in 1864. Currently, they have reached over $4.13 billion in assets. The bank is also insured by the Federal Deposit Insurance Corporation with certificate number 16012.

Dime Savings Bank is currently offering a 3.10% APY 7 year CD and a 2.5% 5 year CD with a minimum deposit of $500. Early withdrawal penalty is quite steep, however – if you withdraw early you’ll lose 2 years interest.

Dime is currently the long term CD leader, but they’re also offering a 1.65% APY 10 month CD. You can open an account online or over the phone; however, if you don’t open an account in person you will be required to send in a copy of your driver’s license and a bill to verify your address. Dime Savings Bank is located in New York. This is only available to residents of New York.

Dime Savings Bank has a 4 out of 5 star soundness rating from Bankrate and is insured by the FDIC.

Bank of America‘s featured CDs don’t have the greatest rates.

BofA is  paying 0.60% for 12-month CDs opened online with a $10,000 minimum deposit. The rate if you walk into one of Bank of America’s brick and mortar is 0.45% APY.

The only other above-average CD rates at Bank of America:

• 3-month CD rate is 0.28% APY versus an average rate of 0.20% APY.
• 60-month CD rate is 2.01% APY versus an average rate of 1.72% APY.

If you look closely at one of the big banks, you can almost always find a decent rate or two. However you’ll never usually find a rate thats comparable to the best online CD rates.

Carthage Savings and Loan Association has a High Interest Checking Account that earns 2.05 percent annual percentage yield (APY) on balances between $2,500 and $25,000.

This checking account features:

• $25 minimum to open
• Free nationwide ATMs
• Unlimited check writing
• Free checks
• $8 monthly fee, waived if daily balance is over $2500
• Free MasterMoney check card
• Free online banking with bill pay
• Free electronic statements
• Direct deposit
• 10 cents for each signature based debit card transaction

The checking account also has tiered interest rates.

Carthage Savings and Loan also has other checking and savings accounts with various rates of interest. For instance, you can open a 36-month certificate of deposit that earns 1.5 percent APY or a 48-month CD that earns 1.7 percent APY.

Carthage Savings and Loan is based in Carthage, N.Y. The savings and loan has been in business since 1888 and serves Jefferson and Lewis counties in New York. You can open an account at its three locations or apply for an account online. A representative will call you to complete the application process.

Discover Bank has a certificate of deposit rate of 1.8% APY for their 3 year CD. Discover Bank online CDs are personal accounts only. The CD also features::

• Minimum opening deposit of $2,500
• $2,500 minimum balance to earn best interest rate
• Fees may reduce earnings
• Penalty for early withdrawal
• Insured by Federal Deposit Insurance Corp. (FDIC) up to $250,000 per depositor
• Interest is compounded daily and credited monthly

Interest earned on CDs can remain in the account or be transferred monthly to a Discover Bank Money Market or another bank account. If you receive interest payments via a check, there is a $5 fee. You receive statements each year in January. But if you choose to have interest automatically transferred to another bank account, you receive monthly statements. You can also view statements online.

Discover Bank notifies you about three weeks before the CD matures with options to renew. The CD automatically renews if you do not contact the bank at least 10 days prior to maturity. Additional deposits can only be made during the grace period following maturity.

Saving money is one of the smartest financial moves you can make whatever the state of the economy. Many Americans have changed their spending ways and are adding to savings accounts. The personal savings rate was 5.3 percent of disposable income in November, compared with 5.4 percent in October, according to a recent report from the Bureau of Economic Analysis.

Although savings rates are not very high–savings accounts are paying an average of 0.39 percent interest and money market accounts are averaging 0.32 percent–it still makes sense to build a nest egg. Getting started on a savings program now can help you become disciplined about building up an emergency fund. If you stick with a savings plan, the money will add up sooner than you think, especially if you put it away and don’t touch it until it’s really needed.

Shop around to find the right savings account for your money. If you know that you won’t need the funds for a year or two, consider opening up a certificate of deposit to earn a higher interest rate. CD rates for a 1-year term are averaging 0.77 percent, but if you shop around to compare bank deals you should be able to find an account with higher promotional rate.

“Short-term rates seem to be shooting through the roof. Acute shortage of liquidity made banks raise three-month funds via certificates of deposits (CDs) at nine per cent.

According to dealers, Bank of India raised three-month CDs at nine per cent today. Another government-owned lender, Syndicate Bank, raised Rs 300 crore at 8.99 per cent, while Corporation Bank raised Rs 500 crore via three-month CDs at 8.97 per cent. Rates for the three-month paper have increased 60-70 bps in the past one week owning to tightness in liquidity.

According to a treasury official, a south-based private sector bank has raised around Rs 200 crore through one-year CD at 9.55 per cent. Syndicate Bank today placed one-year CDs worth Rs 215 core at 9.25 per cent.

Liquidity continued to be tight today with banks raising more than Rs 1.25 lakh crore from the liquidity adjustment facility of the Reserve Bank of India.

Dealer said advance tax outflow, which is expected to suck out Rs 50,000-60,000 crore from the system, will put further pressure on rates.”

iGObanking just lowered their 24 month CD rate from 2.25% to 2.00% APY, which is still over a quarter point higher than the next leading rate from Bank of Internet at 1.72% APY. Even though iGObanking dropped their 2 year CD rate to 2.00%, that rate is actually amongst the best rates for the 3 year CDs.

iGObanking is an online division of Flushing Savings Bank in New York.

Here are the next best nationally available 2 year CD rates:

• Melrose Credit Union at 1.76% with a minimum deposit of $5,000, based out of Queens, New York.
• Bank of Internet at 1.72% with a minimum deposit of $1,000, based out of San Diego, California.
• Discover Bank at 1.65% with a minimum deposit of $2,500, the online bank of the major credit card company.

All of these banks and credit unions allow anyone to purchase their certificates of deposit and impose no other restrictions.

Melrose Credit Union allows anyone, anywhere to join for only $1 and must keep at least $25 in a savings account.

Be sure to check out our best CD rates leader-board for the best CDs in your area.

Northpointe Bank has 3-year certificate of deposit with an annual percentage yield (APY) of 2.1%. Other details of Northpointe certificate of deposits include:

• Withdraw funds after 18 months without a penalty
• $5,000 minimum deposit required to open account
• CD must be opened with funds not currently deposited at Northpointe Bank
• Deposits insured by Federal Deposit Insurance Corp. (FDIC) up to $250,000
• CD rate not valid with other offers
• Automatically renewable upon maturity

Northpointe Bank has other certificates of deposit with terms ranging from 6 months to 5 years or more. Other CD rates include:

• 1% APY for 6 to 11 months
• 1.35% APY for 12 to 17 months
• 1.55% APY for 18 to 23 months
• 1.7% APY for 24 to 29 months
• 2.4% for 48 to 59 months
• 2.7% for 60 months

The bank also offers a high yield money market account with a 1.4% APY. The money market requires a minimum deposit of $100,000. Northpointe Bank is based in Grand Rapids, Mich., and is locally owned and operated. If you live outside of Michigan you can call the bank to find out rates for your state.