What’s a strong 2-year (24 months) CD rate right now?  You’re looking at top rates of around 2 percent.  Yes, I know it sounds pathetic.  Most strong deposit earning checking accounts are still only 0.5% and most strong 1 year CDs are around 1.25%.  Although recent talk has been more hawkish from the Fed and friends, I tend to think that’s more political pandering and appeasement for the Tea Party.  The largest institution offering the 2% CD is American Express Bank, which offers the CD with no minimum deposit, which is rare among banks that are among the Certificate of deposit leaders.

Going into the month of April, we find the best rate for a CD, or certificate of deposit, at 2.25%.  At Country Bank in Massachusetts, you only need $500 to stock away some money in their bank-leading CD rate.  You can find Country Bank branches in Massachusetts.  They exist in Belchertown, Brimfield, Charlton, Four Corners, Leicester, Ludlow, Palmer, Paxton, Ware, West Brookfield, and Wilbraham.  These CDs are not available online, but they can be obtain over the phone.

Speaking of CD offers, I just noticed that IndyMac is offering some pretty attractive rates on short term CDs on its website.

IndyMac CD rates

3 Month          3.25%          3.30%
9 Month          3.92%          4.00%
10 Month        3.92%          4.00%
2 Year             4.16%          4.25%

These rates are extremely attractive when compared to the national averages and may be better than the previously mentioned OnBank offer if someone is looking for a smaller duration.

OnBank is currently offering a fantastic deal on its certificate of deposit or CD accounts.  The 60-month CD is available at 5.15%.  Obviously, OnBank is expecting a pretty good increase in interest rates over the next 5 years.  In any event, this is one of the better CD deals out there.  Generally, I groan at the thought of putting money into CDs, but given the stock market tumult, uncertainty in the municipal bond market, and general economic woes, this may not be a bad option for someone who wants to stow away some money securely.  The bank also offers 3.5% on Money Market savings accounts.