Tired of Hunting for the Best Bank Rates?

Banks bid in live auctions for your deposits.

When you're looking for the best bank rates for your savings, the number of options can make your head spin. What kind of account offers the best rates: Bank CDs or High-Yield Savings accounts? What kind of account will meet your needs best? Weighing these options is an important step towards getting the most out of your savings.
Read more below.

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Recent National Live Auction CD Rates
for March 18, 2010

Term National Avg APY* Overnight
Auction APY†
High-Yield Savings Account Rates 0.20% 1.50%
3 Month CD Rates 0.29% 1.01%
9 Month CD Rates 0.69% 1.31%
1 Year CD Rates 0.69% 1.71%
2 Year CD Rates 1.16% 2.11%

More National CD Rates

Show me CD Rates offered to people from my state:
*

Source: TheStreet.com

†

Overnight Auction APY is a sample rate for a nightly auction for a $50,000 deposit.

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  • The New York Times: Do I Hear 4%? On This Site, Banks Bid for Your Cash
  • CNN: Auction money for best rates
  • The Wall Street Journal: Want the Best CD Rates? Hold an Auction.
  • AARP Bulletin: Save a Buck: Find Highest Interest Rates Online
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  • O: The Oprah Magazine
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  • CNBC: Banks Bid for Your Cash
  • MIT Technology Review
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  • FOX Business: Bidding for Your Money

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About Bank CDs:

  • Certificate of Deposit (CD) - A special type of deposit account with a bank or savings & loan institution that is held for a stated period of time and typically offers a higher rate of interest than a regular savings account. A fixed rate of interest is paid on the CD, usually at regular intervals. The rates of interest paid on CDs can vary widely across different banks and regions – and can be as wide as 2-4 percent points. MoneyAisle has banks bidding for your business in live auctions to provide you with great bank rates on CDs.
  • CDs are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor per insured institution, or up to $500,000 per joint account per insured institution.
  • Banks generally charge a penalty for early withdrawal of the deposit. These penalties may vary widely from bank to bank.

About High-Yield Savings Accounts:

  • Like CDs, High-Yield Savings accounts are insured by the FDIC up to $250,000 per depositor per insured institution, or up to $500,000 per joint account per insured institution.
  • A High-Yield Savings account functions in a similar way to a traditional savings account. MoneyAisle auctions provide high rates on High-Yield Savings accounts by having banks iteratively bid against each other in live auctions.

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