Emergency savings accounts are all the rage these days, and while many people keep theirs in a high yield saving account, others use CDs. It all depends on when you might need the cash.
You may want to consider splitting up your savings, depending on your situation. For example, you may only keep a months expenses in a high yield savings account, and put the bulk of the remainder in a CD. This is especially attractive given the low interest rates these days, since CDs usually offer a higher rate of return.
Well, it’s something I’ve been thinking of doing, and I since I’ve been doing the research I thought I’d compile the list and share it with you.
These are the best cd rates for deposits of $10,000 and under, as rated by BankRate.com. I filtered out the worst and here’s the 2 and 3 star (out of 3 stars) ratings that remain.
| Term | Institution | Rate | APR | Min Deposit |
| 1 month | ||||
| Univest National Bank & Trust Co. Souderton, PA | 0.75 | 0.75 | $2,500 | |
| E-LOAN Pleasanton, CA | 0.55 | 0.55 | $10,000 | |
| Citizens Trust Bank Atlanta, GA | 0.20 | 0.20 | $500 | |
| 3 month | ||||
| Ally Bank Midvale, UT | 1.73 | 1.75 | $0 | |
| Excel National Bank Beverly Hills, CA | 1.73 | 1.74 | $10,000 | |
| NOVA Bank Philadelphia, PA | 1.29 | 1.30 | $500 | |
| Discover Bank New Castle, DE | 1.25 | 1.25 | $2,500 | |
| 6 month | ||||
| Ally Bank Midvale, UT | 2.13 | 2.15 | $0 | |
| Excel National Bank Beverly Hills, CA | 1.98 | 2.00 | $10,000 | |
| giantbank.com Ft. Lauderdale, FL | 1.89 | 1.91 | $2,500 | |
| 1 year | ||||
| Ally Bank Midvale, UT | 2.76 | 2.80 | $0 | |
| Pacific Mercantile Bank Costa Mesa, CA | 2.35 | 2.38 | $10,000 | |
| Discover Bank New Castle, DE | 2.33 | 2.35 | $2,500 | |
| Advanta Bank Corp. Salt Lake City, UT | 2.27 | 2.30 | $10,000 | |
| 3 year | ||||
| Ally Bank Midvale, UT | 3.15 | 3.20 | $0 | |
| Frontier State Bank Oklahoma City, OK | 2.73 | 2.75 | $10,000 | |
| Discover Bank New Castle, DE | 3.16 | 3.20 | $2,500 | |
| Intervest National Bank New York, NY | 3.05 | 3.10 | $2,500 | |
| 5 year | ||||
| Ally Bank Midvale, UT | 3.44 | 3.50 | $0 | |
| Frontier State Bank Oklahoma City, OK | 3.21 | 3.25 | $10,000 | |
| Advanta Bank Corp. Salt Lake City, UT | 3.25 | 3.30 | $10,000 | |
| Nationwide Bank Columbus, OH | 3.25 | 3.30 | $500 |
[...] CD Rate Roundup – Best Bank CD Rates in May [...]