Detroit CD Rates Survey for the week February 6, 2012

Written by: PrimeRateNews Staff

Detroit CD Rates Survey for the week February 6, 2012

According to a recent Primerates.com survey conducted on February 6, 2012 of Detroit CD rates offered by the area banks & credit unions, Detroit’s largest financial institutions offered short-term savers 6 month CD’s with rates between 0.100% at The Huntington National Bank (www.huntington.com) and PNC Bank (www.pnc.com), and 0.400% at Flagstar Bank (www.flagstar.com). Fifth Third Bank (www.53.com) has the highest 2-year CD rate, with 0.650% CD, while Talmer Bank and Trust (www.talmerbank.com) has highest 1.350% CD for 5-year.

CD’s are typically insured up to $250,000 by the FDIC. As CD’s mature, banks typically re-price the rates on deposits. Make sure that you track when your CD’s mature so that you can roll them over into new CD’s and keep your money working as hard as possible.

 

Banks 6 month 1 year 2 year 3 year 4 year 5 year
JPMorgan Chase 0.200% 0.250% 0.350% 0.750%  NA 1.250%
Comerica Bank 0.150% 0.200% 0.300% 0.350% 0.600% 0.950%
Bank of America 0.300% 0.350% 0.400% 0.600% 0.850% 1.200%
PNC Bank 0.100% 0.200% 0.350% 0.400% 0.750% 1.000%
Flagstar Bank 0.400% 0.500% 0.550% 0.650% 0.750% 1.050%
RBS Citizens  NA NA 0.400% NA NA 1.000%
Fifth Third Bank  NA NA 0.650% 0.900% NA 1.240%
The Huntington National Bank 0.100% 0.150% 0.300% 0.400% 0.650% 0.900%
Talmer Bank and Trust 0.250% 0.450% 0.550% 0.800% 1.000% 1.350%

 

Rates from banks, thrifts, and credit union were posted on their websites on the date indicated for a $10,000 certificates of deposit meeting the specific holding requirement. Data is believed accurate at time of collection, can change without notice, and will vary. Contact a specific institution for current rates.


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Detroit CD Rates Survey for the week February 6,...

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