OneWest Bank CD Rates

OneWest Bank, formerly the failed IndyMac Bank is offering some of the best CD rates available today. Their special online CD rates are a lot higher than their CD rates at branch locations.

Right now, the bank's 10-months, 12-months and 18-months certificate of deposits all have an annual percentage rate of 2.08 percent and an annual percentage yield of 2.10 percent. A yield higher than most online savings accounts these days.

The online promo CD rates are also higher than the national average CD rates for similar certificate of deposit terms. Today's average rate for a 12-months certificate of deposit is 1.46 percent and the average interest rate for an 18-months certificate of deposit is currently at 1.61 percent.

The minimum opening deposit to earn  these great CD rates is $5,000. Interest is compounded daily and paid or reinvested into the account monthly or at maturity.

We would stick with either the 10-months certificate of deposit or 12-months certificate of deposit because come this time next year CD rates will be headed higher. The economy will have improved to the point the FOMC will have starting raising interest rates to keep a check on inflation, this will drive banks to raise CD rates and savings rates.