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A survey of current CD rates and terms at GMAC BankView our latest survey of the APY interest rates paid for certificates of deposit by term for the major and minor banks and credit unions that includes but is not limited to: Citibank, BofA, Chase, Wachovia, Taunus, Wells Fargo, HSBC, US Bancorp, Suntrust, ABN, Citizens Financial, Capital One, National City, PenFed, World Savings, Countrywide,  and many more.          

GMAC Bank Best CD Rates with FDIC as of 5/18/08
Term Rate APY
3 months 3.30% 3.35%
6 months 3.39% 3.45%
9 months 3.49% 3.55%
12 months 3.59% 3.65%
18 months 3.68% 3.75%
2 years 4.02% 4.10%
3 years 4.02% 4.10%
4 years 4.26% 4.35%
5 years 4.26% 4.35%
$500 min balance




Definition:  A Certificate of Deposit or CD is certificate from a bank stating that the named party has a specified sum on deposit, usually for a given period of time at a fixed rate of interest.  Often there is a penalty for early withdrawal (taking your money out before the specified period of time.)

The rate assigned will be the rate in effect as of the date that your initial deposit is received. The CD term you desire (for example, 3 months) will begin on the day that your initial deposit is received by GMAC Bank. Interest compounded daily. $500 minimum opening deposit required. Fees could reduce the earnings on account. Penalty for early withdrawal.


Article:  How to Get the Best CD Rates

   
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