Banks Offering Some of the Best CD Rates on Long Term Cds

The sudden downturn in the economy a couple of years ago has now put a lot of people into the saving mode. This has led to some of the banks offering great deals on CDs, money market accounts and even checking accounts. Despite various savings options available today, it is the certificate deposit that is most preferred by people today.

Though most of the banks are indeed offering some priceless deals to customers, there are some of them that beat the other in competition. Let us take a run down at some of the major contenders in terms of long term CD rates.

At 2.70% APY for a period of 5 years, this CD deal offered by Heritage Bank is definitely one of toppers. This bank has branches in two main locations in Arizona, which are at Tempe and Pheonix and require a minimum deposit of $5000.

Following close behind the Heritage Bank is the USAA which is offering an interest rate of 2.70% for a minimum deposit of just a $1000. New Dominion Bank and Colorado Federal Savings Bank are in a close race with USAA with an interest rate of 2.65% APY with minimum deposits of $3000 and $5000 respectively.