Highest Florida CD (Certificate of Deposit) Rates

When it comes to investing, interest rates play a big part. The general rule is this: the higher the interest rates, the more income you will receive. Keep in mind, however that this isn't the only factor to consider. If you intend to invest in a certificate of deposit, there are other factors to consider. This article describes four of Florida's best banks and credit union that offer very rewarding FL-Florida CD (Certificate of Deposit) Rates. Individuals, businessmen and young investors alike, can find good rates in these institutions.

Compare the Best CD Rates in Florida

Account Type:
Certificates of Deposit
Amount:
Term:



Getting Florida CD (Certificate Of Deposit) Rates From Local Banking Institutions

A very promising investment method to diversify your portfolio is investing in certificates of deposit. These accounts have a maturity date which means you earn while you wait. Of course, if you want to maximize your earnings, it's better to invest on long term certificates of deposits with high Florida CD Rates and wait for their maturity. While it helps to invest on savings account, certificates of deposit let you earn more.

Heritage Bank of Florida which is headquartered in O'Lakes, Pasco, County, Florida, is FDIC insured and provides certificates of deposit on its personal accounts portfolio. Their term certificates of deposit range from 3 months to 5 years with a minimum opening required deposit of $500. The good news about their CDs is that these accounts can be used as collaterals for loans. Even more, if you use this feature, you will be offered with lower interest rates on the loan. Presently, their Florida CD Rates are at .40%, 0.75%, 0.90%, 1.51%, 1.77%, 2.02% and 2.28% for their 3 Month, 6 Month, 9 Month, 1 Year, 18 Month, 2 Year and 3 Year CDs. The interests are compounded daily.

Another Florida-based local bank is Hollywood's Sun Trust Bank. Currently, it is offering special CD rates and the promo is just temporary. The APYs are 3.01%, 2.50%, 2.01%, 1.40% and 0.50% for its 78 Month, 62 Month, 45 Month, 25 Month, Month, 13 Month CDs and 10 Month No Penalty CD, respectively. The rates are remarkably high, so you should hurry and avail of these accounts before it lasts. You will have to deposit a minimum opening balance of $2,000 per CD to earn the APYs. You can deposit as much as $1,000,000 for these accounts. Sun Trust Bank is also FDIC-insured. If you want to open an account now, you can call a Sun Trust representative through their hotline or visit the bank physically.

Baxter Credit Union requires a minimum opening deposit of $500. Its rate is very competitive compared to others. The regular Florida CD Rates are 2.65%, 2.05%, 1.70%, 1.35%, 0.90%, 0.55% and 0.35% on the 60 Month, 48 Month, 36 Month, 24 Month, 6 Month and 3 Month CDs. The credit union also has a special certificate of deposit for kids and has a term of 36 months and an APY of 2.50%. The minimum deposit for this special CD is $50 and should not exceed $15,000. Young people availing of this account should be 18 years old or below.

Bay Cities Bank has a new feature. It is offering a Triple Feature Certificate of Deposit with a term of 36 months and an APY of 2.00%. This high yield certificate of deposit gives you an option to bump-up the interest rates just once during the original term. You will be able to gain the new interest rate for the rest of the original term.

Once the CDs pay interest, you can choose to reinvest it, or spend it. If you wish to grow your money, it is best to reinvest it so your interest will compound and you can get higher profit from the account.

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


CDs Guides