Highest Alaska CD (Certificate of Deposit) Rates

Certificate of deposits allow investors to earn higher interest rates than a regular savings account would pay. It is a great tool for investment because profits do not entail risk. Despite its advantages, however, certificates of deposit also have their own limitations. This article states some Ak-Alaska CD (Certificate of Deposit) rates and also details the top yield providers in Alaska. The institutions and the APYs, as well as the basic requirements, are also mentioned. Read this article so you can have a better idea which banks offer the best deals for CDs.

Compare the Best CD Rates in Alaska

Account Type:
Certificates of Deposit
Amount:
Term:



Alaska CD Rates: An Overview

The top institution offering the highest Alaska CD (Certificate of Deposit) Rates on the 3 month CD product is the Fort Knox Federal Credit Union whose APY (annual percentage yield) is 1.40% and a minimum deposit of $500. A good review about Fort Knox FCU is focused on its convenient way to open certificate of deposits account. Depositors can transact through any shared bank and the transactions will instantly be reflected in their Fort Knox account. As of mid-July, the credit union's 3 month, 6 month products and 5 year CDs are the best in their portfolio with an APY of 1.40% for the first two and 3.00% respectively. The union is proven to be among the best institutions that offer competitive rates and are rated with four to five stars by reviewers. Such are stated in some informational websites such as Bauer Financial and Deposit Accounts.

The 1 Year CD top Alaska CD (Certificate of Deposit) rate is provided by Melrose Credit Union. Fort Knox FCU is still in the leading board but is ranked the third with Alliant Credit Union as the second. Melrose CU's APY as of July 16 is 1.76% which has remained unchanged since May though there was a sudden decrease from last year's APY of 2.22 to April 2010's 1.51%. Melrose's requirements include a onetime $1 membership fee and a minimum $25 deposit.

The 18 month CD's highest rate in Alaska is 1.90% specifically Alliant Credit Union's 18 - 23 Month Share CD. There was a .10% decrease from March's rate. The trend shows a declining graph but it still appears that Alliant CU's rates remain to be popular due to the benefits for its members. The account allows beneficiaries and is compounded monthly.

The most promising 2 Year AK-Alaska CD (certificate of deposit) rates come from First Bank with 2.17% for the 0 - 24,999.99 tier. The trend of this product was stagnant or remained unchanged since November last year. The compounding is computed daily and the interest can be drawn out before maturity. Alliant CU and Melrose CU came next for the 2 year CD with APYs of 2.15% and 2.02% respectively. The 3 year and 5 year CDs gave First Bank the first place with a 2.53% APY and 3.35% APY.

Melrose Credit Union's 3.29% APY ranks first, with its 5 year Share CD Certificates for the 5 Year CD Category. The membership fee is still $1.00 and the minimum initial deposit is $25. Like the 1 Year CD, there was also a sharp decrease from the mid months' rates specifically March's 3.55% to April's 3.03%. However a recovery was shown when the rates closed at 3.29% in May. Apple Federal Credit Union is the first of the 6 year or over with an APY of 3.65%. One of the Credit Union's benefits is the Ambassador Rewards Program. Local employers joined the union as an SEG or select employment group to avail of the program as their employment benefit. There are no required minimum and maximum deposits.

CD Rates by State:

ONLINE SAVINGS ACCOUNT

  • No minimum balance
  • Competitive rates, No risk

MONEY MARKET ACCOUNT

  • High rates, Access to money
  • FDIC Insured

CD Types


CDs Overnight Averages

Product
Yield
+/-
Last week


3 Mo CD
0.11
-
0.11


6 Mo CD
0.17
-
0.17


1 Yr CD
0.26
-
0.26


1.5 Yr CD
0.33
-
0.33


5 Yr CD
1.02
-
1.02


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