May 10, 2016 in CDs

Today’s rates on certificates of deposit are among the lowest they’ve been since Bankrate began archiving rates in 1984. However, a bump-up CD allows an investor to increase a CD’s rate one or more times during its term.

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The bump-up option was offered on CDs ranging from 3 months to 7 years in maturity, with the most common offerings for maturities of 1 year through 5 years. However, the yields offered on the bump-up CDs in the survey fell short of the top-yielding, nationally available, traditional CDs of the same maturity.

Bump-up CDs
Institution name Market Maturity APY Conditions
Institution name: Amegy Bank Market: Houston Maturity: 12-month APY: 0.1% Conditions: Rising Rate CD Option – $1,000 to open; 1 increase in rate during term.
Institution name: Amegy Bank Market: Houston Maturity: 18-month APY: 0.1% Conditions: Rising Rate CD Option – $1,000 to open; 1 increase in rate during term.
Institution name: Amegy Bank Market: Houston Maturity: 24-month APY: 0.15% Conditions: Rising Rate CD Option – $1,000 to open; 1 increase in rate during term.
Institution name: Amegy Bank Market: Houston Maturity: 36-month APY: 0.4% Conditions: Rising Rate CD Option – $1,000 to open; 1 increase in rate during term.
Institution name: America First FCU Market: Top 50 CU Maturity: All terms (3-month to 60-month) APY: 0.25-2.3% Conditions: Bump Option on all CDs – $500 minimum; 1 increase in rate during term.
Institution name: Bank-Fund Staff FCU Market: Top 50 CU Maturity: 36-month APY: 0.45% Conditions: Step-Up Share CD – $1,000 minimum to open; 1 increase in rate during term.
Institution name: Bank-Fund Staff FCU Market: Top 50 CU Maturity: 60-month APY: 0.7% Conditions: Step-Up Share CD – $1,000 minimum to open; 1 increase in rate during term.
Institution name: BECU Market: Top 50 CU Maturity: 12-month APY: 0.2% Conditions: Bump Up CD – $500 minimum; rates tiered: $500-$50,000: 0.2% APY (0.45% with member advantage), $50,000-$100,000+: 0.25% APY (0.5% with member advantage); 1 increase in rate per term.
Institution name: BECU Market: Top 50 CU Maturity: 24-month APY: 0.35% Conditions: Bump Up CD – $500 minimum; rates tiered: $500-$50,000: 0.35% APY (0.6% w ith member advantage), $50,000-$100,000+: 0.4% APY (0.65% with member advantage); 1 increase in rate per term.
Institution name: Bethpage FCU Market: Top 50 CU Maturity: 36-month APY: 1.2% Conditions: Bump Up CD – $50 minimum; 1 rate increase allowed during term.
Institution name: Colombo Bank Market: DC Metro Maturity: 14-month APY: 1.16% Conditions: Bump-Up CD – $1,000 minimum; one-time increase in rate during term; additional deposits of $1,000 allowed at any time.
Institution name: Digital FCU Market: Top 50 CU Maturity: 15-month APY: 0.63% Conditions: Jump-Up Certificate – $500 minimum to open; 1 increase in rate per term; 0.73% APY at $25,000.
Institution name: Digital FCU Market: Top 50 CU Maturity: 27-month APY: 1.13% Conditions: Jump-Up Certificate – $500 minimum to open; 1 increase in rate per term; 1.23% APY at $25,000.
Institution name: East Boston Savings Bank Market: Boston Maturity: 25-month APY: 1.41% Conditions: Bump-Up CD – $1,000 minimum; one-time bump-up to the then-current 24-month CD rate.
Institution name: Ent FCU Market: Top 50 CU Maturity: 24-29 months APY: 1.11% Conditions: Priority Certificates – $5,000 minimum; 1 rate increase per term; 1 additional deposit of $1,000 or more during the first year of the term; 1 penalty-free withdrawal of up to 50% of your certificate balance.
Institution name: Ent FCU Market: Top 50 CU Maturity: 30-35 months APY: 1.25% Conditions: Priority Certificates – $5,000 minimum; 1 rate increase per term; 1 additional deposit of $1,000 or more during the first year of the term; 1 penalty-free withdrawal of up to 50% of your certificate balance.
Institution name: Ent FCU Market: Top 50 CU Maturity: 36-month APY: 1.4% Conditions: Priority Certificates – $5,000 minimum; rate increase per term; 1 additional deposit of $1,000 or more during the first year of the term; 1 penalty-free withdrawal of up to 50% of your certificate balance.
Institution name: First Savings Bank of Hegewisch Market: Chicago Maturity: 2-year APY: 0.7% Conditions: Step-Up – $5,000 minimum; rate can be increased once during the term of the CD.
Institution name: First Savings Bank of Hegewisch Market: Chicago Maturity: 3-year APY: 0.95% Conditions: Step-Up – $5,000 minimum; rate can be increased once during the term of the CD.
Institution name: First Tech FCU Market: Top 50 CU Maturity: 13-month APY: 0.35% Conditions: Bump-Up Share Certificate – $500 minimum; 1 rate increase and 1 additional deposit up to the original amount at the start of the current term.
Institution name: Kinecta FCU Market: Top 50 CU Maturity: 18-month APY: 0.5% Conditions: Bump-Up – $1,000 minimum; 1 increase in rate per term.
Institution name: Logix FCU Market: Top 50 CU Maturity: 12-month APY: 0.25% Conditions: Bump Rate Certificate – $5,000 minimum; 1 increase in rate during term.
Institution name: Luther Burbank Savings Market: Los Angeles Maturity: 18-month APY: 0.85% Conditions: Bump-Up CD – $1,000 minimum; increase rate 1 time during first 6 months; rate can increase a maximum of 1% from opening rate.
Institution name: Luther Burbank Savings Market: San Francisco Maturity: 18-month APY: 0.85% Conditions: Bump-Up CD – $1,000 minimum; increase rate 1 time during first 6 months; rate can increase a max of 1% from opening rate.
Institution name: Mountain America FCU Market: Top 50 CU Maturity: 18-month APY: 1% Conditions: Bump-Up – $500 minimum; 1 increase in rate per term.
Institution name: Mountain America FCU Market: Top 50 CU Maturity: 36-month APY: 1.5% Conditions: Bump-Up – $500 minimum; 1 increase in rate per term.
Institution name: Mountain America FCU Market: Top 50 CU Maturity: 60-month APY: 2.1% Conditions: Bump-Up – $500 minimum; 1 increase in rate per term.
Institution name: OnPoint Community CU Market: Top 50 CU Maturity: 12-month APY: 0.2% Conditions: Booster Rate CD – $1,000 to open; 1 increase in rate per term.
Institution name: OnPoint Community CU Market: Top 50 CU Maturity: 18-month APY: 0.3% Conditions: Booster Rate CD – $1,000 to open; 1 increase in rate per term.
Institution name: OnPoint Community CU Market: Top 50 CU Maturity: 24-month APY: 0.35% Conditions: Booster Rate CD – $1,000 to open; 1 increase in rate per term.
Institution name: Presidential Bank, FSB Market: DC Metro Maturity: 12-60 months APY: 0.95-1.53% Conditions: Bump-Up Option – $1,000 minimum; all terms 12 months or greater have a one-time bump option (12 months -0.95% APY, 24 months – 1.1% APY, 36 months – 1.25% APY, 60 months -1.53% APY.
Institution name: Redstone FCU Market: Top 50 CU Maturity: 36-month APY: 0.95% Conditions: Member’s Choice CD – $1,000 minimum; increase your rate any time after the first 90 days, then once every 365 days thereafter; 1.21% APY if member has and maintains an active checking account.
Institution name: Redstone FCU Market: Top 50 CU Maturity: 48-month APY: 1.26% Conditions: Member’s Choice CD – $1,000 minimum; increase your rate any time after the first 90 days, then once every 365 days thereafter; 1.51% APY if member has and maintains an active checking account.
Institution name: Redstone FCU Market: Top 50 CU Maturity: 60-month APY: 1.46% Conditions: Member’s Choice CD – $1,000 minimum; increase your rate any time after the first 90 days, then once every 365 days thereafter; 1.71% APY if member has and maintains an active checking account.
Institution name: Redstone FCU Market: Top 50 CU Maturity: 84-month APY: 1.76% Conditions: Member’s Choice CD – $1,000 minimum; increase your rate any time after the first 90 days, then once every 365 days thereafter; 2.02% APY if member has and maintains an active checking account.
Institution name: San Diego County CU Market: Top 50 CU Maturity: 50-month APY: 1.45% Conditions: Bump CD – $2,000 minimum; 1 increase in rate during term; $10,000-$89,9999: 1.5% APY, $90,000+: 1.55% APY.
Institution name: State Employees FCU Market: Top 50 CU Maturity: 18-month APY: 0.4% Conditions: Risk-Free Share Certificate – $500 minimum. You may change the term and increase your rate one time within the first 6 months of opening. The new term must be at least 12 months.
Institution name: State Employee CU of MD Market: Top 50 CU Maturity: 5-year APY: 1.25% Conditions: Step-Up – $500 minimum; 1 rate increase in rate per term.
Institution name: Tinker FCU Market: Top 50 CU Maturity: 30-month APY: 1.11% Conditions: Rate Booster Term Share CD – $1,000 minimum; 1 rate increase per term. New rate will be 0.2% higher than current 24-month ($10,000 tier) CD rate.
Institution name: Tower FCU Market: Top 50 CU Maturity: 4-year APY: 0.45% Conditions: Bump-Up Share CD – $5,000 minimum; 1 rate increase per term.
Institution name: Tower FCU Market: Top 50 CU Maturity: 5-year APY: 0.7% Conditions: Bump-Up Share CD – $5,000 minimum; 1 rate increase per term.
Institution name: United Nations FCU Market: Top 50 CU Maturity: 30-month APY: 1.5% Conditions: Flex Rate CD – $500 minimum; 1 rate increase per term.
Institution name: VyStar CU Market: Top 50 CU Maturity: 18-month APY: 0.76% Conditions: Step-Up CD – $500 to open; 1 rate increase per term; additional deposits of $2,000 allowed at any time; $50,000+ 0.81% APY.

A total of 150 institutions — the 10 largest banks and largest thrifts in each of 10 U.S. markets, plus the nation’s 50 largest credit unions — were surveyed March 8-16, 2016, for their offerings on liquid CDs, bump-up CDs, step-up CDs and callable CDs. Some of the offers appear in more than 1 category if they contain features of more than 1 type of product.

Included in Bankrate’s CD survey results is a listing of the banks, their locations and their CDs’ maturities, initial annual percentage yield and yield to maturity. You also can find the best CD rates at Bankrate.com.



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