2011 rising-rate CD survey
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2011 Rising-rate CD survey: Bump-up CDs

Rising-rate CDs » Bump-up CDs

Today's rates on certificates of deposit are among the lowest they've been since Bankrate began archiving rates in 1983. But a bump-up CD allows an investor to increase a CD's rate one or more times during its term.

Bump-up CDs tend to provide the greatest benefit at longer maturities, since they give you more time to reap the rewards of your bumped-up rates. That's why it was disappointing that nearly 78 percent of the bump-up CDs in Bankrate's survey had maturities of 24 months or less.

Included in Bankrate's CD survey results are a listing of the banks, their locations, and their CD's maturity and annual percentage yield. You can also find the best CD rates at Bankrate.com.

Institution nameMarketMaturityInitial
annual
percentage
yield (%)
Conditions
Bank of AmericaNew York Metro18-month0.75Bank of America, New York Metro, 18-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
CitibankNew York Metro12-month0.25Citibank, New York Metro, 12-month
Option CD: $500 minimum to open; open online, by phone or at a branch. Allows you to transfer the entire balance during the term to a Citibank one-year CD without penalty.
Sovereign BankNew York Metro12-month and
36-month
0.35Sovereign Bank, New York Metro, 12-month and 36-month
Rising-Rate CD: several terms and tiers for each. You can request that the interest rate be increased one time during the term. $500-$9,999 yields 0.35%; $10,000-$49,999 yields 0.40%; $50,000-$99,999 yields 0.45%. Also available with same APYs for an IRA.
Sovereign BankNew York Metro24-month0.15Sovereign Bank, New York Metro, 24-month
Rising-Rate CD: several terms and tiers for each. You can request that the interest rate be increased one time during the term. $500-$9,999 yields 0.15%; $10,000-$49,999 yields 0.20%; $50,000-$99,999 yields 0.25%. Also available with same APYs for an IRA.
Sovereign BankNew York Metro12-month and/or 36-month with Premier Checking or Business Owner Premier Checking0.60Sovereign Bank, New York Metro, 12-month and/or 36-month with Premier Checking or Business Owner Premier Checking
$500-$9,999 yields 0.60%; $10,000-$49,999 yields 0.65%; $50,000-$99,999 yields 0.70%.
Sovereign BankNew York Metro24-month with Premier Checking or Business Owner Premier Checking0.40Sovereign Bank, New York Metro, 24-month with Premier Checking or Business Owner Premier Checking
$500-$9,999 yields 0.40%; $10,000-$49,999 yields 0.45%; $50,000-$99,999 yields 0.50%.
Bank of AmericaLos Angeles18-month0.75Bank of America, Los Angeles, 18-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
CitibankLos Angeles12-month0.25Citibank, Los Angeles, 12-month
Option CD: $1,000 minimum to open (Calif.); open online, by phone or at a branch. Allows you to transfer the entire balance during the term to a Citibank one-year CD without penalty.
Bank of AmericaChicago18-month0.75Bank of America, Chicago, 18-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
BankFinancialChicago18-month0.60BankFinancial, 18-month
Jump Rate: $1,000 minimum to open. Rate can be increased one time during the term.
Bank of AmericaSan Francisco18-month0.75Bank of America, San Francisco, 18-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
CitibankSan Francisco12-month0.25Citibank, San Francisco, 12-month
Option CD: $1,000 minimum to open (Calif.); open online, by phone or at a branch. Allows you to transfer the entire balance during the term to a Citibank one-year CD without penalty.
Bank of AmericaPhiladelphia18-month0.75Bank of America, Philadelphia, 18-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
Sovereign BankPhiladelphia12-month and
36-month
0.35Sovereign Bank, Philadelphia, 12-month & 36-month
Rising-Rate CD: several terms and tiers for each. You can request that the interest rate be increased one time during the term. $500-$9,999 yields 0.35%; $10,000-$49,999 yields 0.40%; $50,000-$99,999 yields 0.45%. Also available with same APYs for an IRA.
Sovereign BankPhiladelphia24-month0.15Sovereign Bank, Philadelphia, 24-month
Rising-Rate CD: several terms and tiers for each. You can request that the interest rate be increased one time during the term. $500-$9,999 yields 0.15%; $10,000-$49,999 yields 0.20%; $50,000-$99,999 yields 0.25%. Also available with same APYs for IRA.
Sovereign BankPhiladelphia12-month and/or 36-month with Premier Checking or Business Owner Premier Checking0.60Sovereign Bank, Philadelphia, 12-month and/or 36-month with Premier Checking or Business Owner Premier Checking
$500-$9,999 yields 0.60%; $10,000-$49,999 yields 0.65%; $50,000-$99,999 yields 0.70%.
Sovereign BankPhiladelphia24-month with Premier Checking or Business Owner Premier Checking0.40Sovereign Bank, Philadelphia, 24-month with Premier Checking or Business Owner Premier Checking
$500-$9,999 yields 0.40%; $10,000-$49,999 yields 0.45%; $50,000-$99,999 yields 0.50%.
     
Institution nameMarketMaturityInitial
annual
percentage
yield (%)
Conditions
Bank of AmericaDetroit18-month0.75Bank of America, Detroit, 18-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
Bank of AmericaBoston18-month0.55Bank of America, Boston, 18-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
Sovereign BankBoston12-month and
36-month
0.35Sovereign Bank, Boston, 12-month and 36-month
Rising-Rate CD: several terms and tiers for each. You can request that the interest rate be increased one time during the term. $500-$9,999 yields 0.35%; $10,000-$49,999 yields 0.40%; $50,000-$99,999 yields 0.45%. Also available with same APYs for IRA.
Sovereign BankBoston24-month0.15Sovereign Bank, Boston, 24-month
Rising-Rate CD: several terms and tiers for each. You can request that the interest rate be increased one time during the term. $500-$9,999 yields 0.15%; $10,000-$49,999 yields 0.20%; $50,000-$99,999 yields 0.25%. Also available with same APYs for IRA.
Sovereign BankBoston12-month and/or 36-month with Premier Checking or Business Owner Premier Checking0.60Sovereign Bank, Boston, 12-month and/or 36-month with Premier Checking or Business Owner Premier Checking
$500-$9,999 yields 0.60%; $10,000-$49,999 yields 0.65%; $50,000-$99,999 yields 0.70%.
Sovereign BankBoston24-month with Premier Checking or Business Owner Premier Checking0.40Sovereign Bank, Boston, 24-month with Premier Checking or Business Owner Premier Checking
$500-$9,999 yields 0.40%; $10,000-$49,999 yields 0.45%; $50,000-$99,999 yields 0.50%.
Bank of AmericaHouston18-month0.70Bank of America, Houston, 18-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
BBVA CompassHouston24-month1.00BBVA Compass, Houston, 24-month
Bump-Up: $5,000 minimum to open. Rate can be increased one time during the term. You may also make one additional deposit during the term.
BBVA CompassHouston36-month, 48-month and 60-month1.00BBVA Compass, Houston, 36-month, 48-month and 60-month
Bump-Up: $5,000 minimum to open. Rate can be increased two times during the term. Also, you may make one additional deposit during the term. Available for three-, four- and five-year terms.
Bank of AmericaDallas18-month0.70Bank of America, Dallas, 18-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
BBVA CompassDallas24-month1.00BBVA Compass, Dallas, 24-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
BBVA CompassDallas36-month, 48-month and 60-month1.00BBVA Compass, Dallas, 36-month, 48-month and 60-month
Bump-Up CD: $5,000 minimum to open. Rate can be increased one time during the term. You may also make one additional deposit during the term.
Colonial Savings, FADallas36-month1.67Colonial Savings, FA, Dallas, 36-month
Triple-Option CD: $10,000 minimum to open. Within the term you may do one of the following: penalty-free withdrawal of up to 50% of balance, add funds, bump up.
OmniAmerican BankDallas10-month0.75OmniAmerican Bank,
Bump-Up CD: $500 minimum to open. Rate can be increased one time during the term.
Bank of AmericaDC Metro18-month0.75Bank of America, DC Metro, 18-month
Opt-Up CD: $10,000 minimum to open (maximum $250,000 if opened online). Rate can be increased one time after six months.
     
Institution nameMarketMaturityInitial
annual
percentage
yield (%)
Conditions
Addison Avenue FCUCredit Union13-month0.80Addison Avenue FCU, 13-month
Plus certificate: $500 minimum to open. Once during the term, the rate may be bumped up to the current rate offered on the 13-month Plus CD. One additional deposit during the term up to the original amount is allowed. Earned dividends may be withdrawn at any time with penalty.
Addison Avenue FCUCredit Union30-month1.05Addison Avenue FCU, 30-month
Plus certificate: $500 minimum to open. Once during the term, the rate may be bumped up to the current rate offered on the 30-month Plus CD. One additional deposit during the term up to the original amount is allowed. Earned dividends may be withdrawn at any time with penalty.
America First FCUCredit Union36-month1.65America First FCU, 36-month
Flex-Rate CD: $500 minimum to open. One rate increase during the term.
America First FCUCredit Union48-month1.80America First FCU, 48-month
Flex-Rate CD: $500 minimum to open. One rate increase during the term.
America First FCUCredit Union60-month2.00America First FCU, 60-month
Flex-Rate CD: $500 minimum to open. One rate increase during the term.
Bank-Fund Staff FCUCredit Union36-month1.30Bank-Fund Staff FCU, 36-month
Step-Up CD: $1,000 minimum to open. One-time option to step up to a higher rate.
Bank-Fund Staff FCUCredit Union60-month2.10Bank-Fund Staff FCU, 60-month
Step-Up CD: $1,000 minimum to open. One-time option to step up to a higher rate.
BECUCredit Union12-month0.55BECU, 12-month
Bump-Up CD: $500 minimum to open. One-time option to increase rate. $50,000-$99,999.99 yields 0.60% APY; $100,000 or more yields 0.65%.
BECUCredit Union24-month0.90BECU, 24-month
Bump-Up CD: $500 minimum to open. One-time option to increase rate. $50,000-$99,999.99 yields 0.95%; $100,000 or more yields 1.01%.
Bethpage FCUCredit Union39-month1.75Bethpage FCU, 39-month
Bump-Up CD: $1,000 minimum to open. One-time option to increase rate.
Digital FCUCredit Union27-month1.25Digital FCU, 27-month
Regular Jump-Up CD: $500 minimum to open. One-time option to increase rate. APY with relationship checking is 1.5%.
Digital FCUCredit Union15-month1.05Digital FCU, 15-month
Regular Jump-Up CD: $500 minimum to open. One-time option to increase rate. APY with relationship checking is 1.3%.
Digital FCUCredit Union27-month1.51Digital FCU, 27-month
Jumbo Jump-Up and IRA Jump-Up: $25,000 minimum to open for Jumbo and $500 minimum to open for IRA. One-time option to increase rate. APY with relationship checking is 1.76%.
Digital FCUCredit Union15-month1.05Digital FCU, 15-month
Jumbo Jump-Up and IRA Jump-Up: $25,000 minimum to open for Jumbo and $500 minimum to open for IRA. One-time option to increase rate. APY with relationship checking is 1.55%.
Ent FCUCredit Union24-month1.36Ent FCU, 24-month
Priority Certificate: $5,000 minimum to open. One-time option to increase rate. In the first year you can add up to $1,000 to balance. One-time withdrawal of up to 50% of balance without penalty.
Ent FCUCredit Union30-month1.38Ent FCU, 30-month
Priority Certificate: $5,000 minimum to open. One-time option to increase rate. In the first year you can add up to $1,000 to balance. One-time withdrawal of up to 50% of balance without penalty.
Ent FCUCredit Union36-month1.40Ent FCU, 36-month
Priority Certificate: $5,000 minimum to open. One-time option to increase rate. In the first year you can add up to $1,000 to balance. One-time withdrawal of up to 50% of balance without penalty.
Kinecta Federal Credit UnionCredit Union18-month0.55Kinecta Federal Credit Union, 18-month
Bump-Up Share Certificate: $1,000 minimum to open. One-time option to increase rate.
Lockheed FCUCredit Union12-month0.50Lockheed FCU, 12-month
Bump-Up Rate Certificate: $1,000 minimum to open. One-time option to increase rate. Silver level ($10,000 in combined loan and core savings balance) yields 0.75% APY. Gold level ($25,000 in combined loan and core savings balance) yields 1% APY. Platinum level ($100,000 in combined loan and core savings balance) yields 1.15% APY.
OnPoint Community Credit UnionCredit Union12-month0.60OnPoint Community Credit Union, 12-month
Booster Rate CD: $1,000 minimum to open. One-time option to increase rate.
OnPoint Community Credit UnionCredit Union18-month0.75OnPoint Community Credit Union, 18-month
Booster Rate CD: $1,000 minimum to open. One-time option to increase rate.
OnPoint Community Credit UnionCredit Union24-month0.90OnPoint Community Credit Union, 24-month
Booster Rate CD: $1,000 minimum to open. One-time option to increase rate.
Redstone FCUCredit Union36-month1.70Redstone FCU, 36-month
Bump-Up CD: $5,000 minimum to open. One-time option to increase rate.
State Employee CU (New York)Credit Union18-month0.90State Employee CU (New York), 18-month
Risk-Free Share Certificate: $500 minimum to open. You may change the term and increase your rate one time within the first six months of opening. The new term must be at least 12 months.
State Employee CU of MarylandCredit Union60-month2.25State Employee CU of Maryland, 60-month
Step-Up: $500 minimum to open. One-time option to increase rate during the term.
Tower Federal Credit UnionCredit Union48-month1.15Tower Federal Credit Union, 48-month
Bump-Up: $5,000 minimum to open. One-time option to increase rate. IRA available with same APY.
Tower Federal Credit UnionCredit Union60-month1.85Tower Federal Credit Union, 60-month
Bump-Up: $5,000 minimum to open. One-time option to increase rate. IRA available with same APY.
United Nations FCUCredit Union30-month1.50United Nations FCU, 30-month
Flex Share Certificate: $500 minimum to open. One-time option to increase rate.
VyStar CUCredit Union18-month1.01VyStar CU, 18-month
Step-Up: $500 minimum to open. One-time option to increase rate. You can also make deposits into the account up to $2,000. $50,000 or more yields 1.06% APY.

Bankrate.com surveyed the five largest banks and the five largest thrifts based on deposits in 10 large metropolitan markets across the country as well as the nation's 50 largest credit unions. The surveys were conducted from March 8 to March 18, 2011.

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Product Rate Change Last week
1 Year CD 0.89%  0.01 0.88%
2 Year CD 1.01%  0.02 1.03%
5 Year CD 1.59%  0.07 1.66%
 
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