0.85%GMAC Bank has the highest short term CD rates around at over 3.4 % APY for all of their certificates of deposit. If you want to invest your 2008 tax stimulus check money with zero risk then a CD may be right for you. Here’s a list of GMAC Bank’s current CD Rates:
| Term | Rate | APY |
|---|---|---|
| 3 months | 3.44% | 3.50% |
| 6 months | 3.54% | 3.60% |
| 9 months | 3.54% | 3.60% |
| 12 months | 3.83% | 3.90% |
| 18 months | 3.54% | 3.60% |
| 2 years | 3.68% | 3.75% |
| 3 years | 3.92% | 4.00% |
| 4 years | 3.92% | 4.00% |
| 5 years | 4.07% | 4.15% |
CD’s at GMAC Bank only require a $500 minimum opening deposit(compare that with Countrywide Bank’s $10,000 minimum deposit for opening CD accounts) and they are FDIC Insured. GMAC Bank’s rates are even better than Countrywide’s CD rates right now which are only at 3.25% APY for 3month, 6month, and 9month CDs.
April 14th, 2008