Internet bank raises CD rates

Virtual Bank

 

Is the fog lifting on low CD rates?

 

Probably not quite yet, but at least one bank raised their CD rates across the board this week.

 

VirtualBank is an online-only FDIC-insured bank that has offered competitive deposit rates on the web for over ten years. Keeping your money at a truly online-only bank is different than holding money at an online division of a brick-and-mortar bank. It’s greener.

 

Online-only banks mean no branches, fewer emissions and a smaller carbon footprint. The interesting part is that it doesn’t end there. Online-only banks have had a better track record in the last few years with making socially-responsible loans and staying out of regulatory trouble.

 

Back to those CD rates.

 

VirtualBank offers CD rates from 1 month to 5 years. Accounts can be opened online with a minimum deposit of $10,000.

 

VirtualBank CD Rates

 

1-month 0.30% APY

2-month 0.35% APY

3-month 0.70% APY

6-month 1.01% APY

9-month 1.01% APY

12-month 1.21% APY

18-month 1.26% APY

2-year 1.46% APY

3-year 1.77% APY

4-year 2.02% APY

5-year 2.38% APY

 

Accounts at VirtualBank are FDIC-insured up to $250,000 per depositor

 

Leave A Comment