RateAPY

West Town Savings Bank CD Rates Pay up to 3.56% APY

Posted by: RateAPY Bank Rates News
May 31st, 2010

Certificates of Deposit Competitive?

According to the Federal Reserve, on May 21 the average yield for a seven-year Constant Maturity Treasury (CMT) was about 2.71%. However, a quick glance at RateAPY shows that you can do way, way better than that with certificates of deposit that have the same term.

Take, for example, West Town Savings Bank CD rates. A seven-year certificate of deposit here pays 3.56% APY, even though the bank is FDIC-insured, so–providing you observe the appropriate rules–there’s no more risk than with a Treasury instrument.

Here’s the full range of CD rates as of June 2, 2010, offered to new customers at West Town Savings Bank:

• 91-day .50% APY
• 6-month .75% APY
• 7-month .75% APY
• 14-month 1.01% APY
• 15-month 1.01% APY
• 16-month 1.01% APY
• 18-month 1.51% APY
• 19-month 1.51% APY
• 24-month 1.76% APY
• 30-month 1.76% APY
• 36-month 2.02% APY
• 48-month 2.43% APY
• 60-month 3.04% APY
• 84-month 3.56% APY

You need a minimum balance of $1,000 to receive these interest rates.

Stay Current with CD Rates

The most important rule of successful investment is always to keep up to date with the market. Banks are constantly adjusting the interest rates they pay on different accounts, so your should compare CD rates here regularly.