GMAC Bank has always been a leader in high yielding CDs and continues to be today. They’re currently offering a 4.00% APY on a 1-Year CD which is a very high interest rate for only a 1-Year term. GMAC typically changes their rates on Fridays, so you may have to act fast if you want to lock in this rate.
GMAC’s saving account currently offers 3.75% with no minimum balance and no fees. It’s one of the best savings online savings accounts in my book.
GMAC is a FDIC insured bank and as I always advise, stay below the FDIC limits. What’s the FDIC insured limit? $100,000.
Category: CD Rates