How to make $2500 with a CD right now
What are the current interest rates offered by top financial institutions for CDs that can help earn a $2,500 return?
There are several options available for investing in CDs that can help earn a $2,500 return. Here are some of the top financial institutions and their current interest rates:
-
First Internet Bank of Indiana: This bank offers a 5-year CD with a 4.50% APY. By depositing $10,200, you can earn $2,511.06 in interest over the 5-year term, bringing your total account value to $12,711.06 upon maturity.
-
SchoolsFirst Federal Credit Union: Their 5-year CD offers a 4.35% APY. By depositing $10,200, you can earn $2,420.09 in interest over the 5-year term, bringing your total account value to $12,620.09 upon maturity.
-
Quontic Bank: This bank offers a 5-year CD with a 4.30% APY. By depositing $10,200, you can earn $2,398.88 in interest over the 5-year term, bringing your total account value to $12,589.88 upon maturity.
-
First Internet Bank of Indiana: They also offer a 3-year CD with a 4.61% APY. By depositing $17,500, you can earn $2,533.54 in interest over the 3-year term, bringing your total account value to $20,033.54 upon maturity.
-
Popular Direct: Their 3-year CD offers a 4.50% APY. By depositing $17,500, you can earn $2,470.41 in interest over the 3-year term, bringing your total account value to $19,970.41 upon maturity.
-
Quontic Bank: This bank also offers a 3-year CD with a 4.40% APY. By depositing $17,500, you can earn $2,413.13 in interest over the 3-year term, bringing your total account value to $19,913.13 upon maturity.
-
CIBC Bank USA: Their 1-year CD offers a 5.36% APY. By depositing $47,000, you can earn $2,519.20 in interest over the 1-year term, bringing your total account value to $49,519.20 upon maturity.
-
Bask Bank: This bank offers a 1-year CD with a 5.30% APY. By depositing $47,000, you can earn $2,491.00 in interest over the 1-year term, bringing your total account value to $49,491.00 upon maturity.
-
First Internet Bank of Indiana: Their 1-year CD offers a 5.26% APY. By depositing $47,000, you can earn $2,472.20 in interest over the 1-year term, bringing your total account value to $49,472.20 upon maturity.
-
Bask Bank: This bank also offers a 6-month CD with a 5.35% APY. By depositing $95,000, you can earn $2,508.14 in interest over the 6-month term, bringing your total account value to $97,508.14 upon maturity.
-
America First Credit Union: Their 6-month CD offers a 5.25% APY. By depositing $95,000, you can earn $2,461.85 in interest over the 6-month term, bringing your total account value to $97,461.85 upon maturity.
Please note that these rates are subject to change, and it's essential to check with the financial institution for the most up-to-date information.
How does the interest rate of a 5-year CD at First Internet Bank of Indiana compare to those offered by SchoolsFirst Federal Credit and Quontic Bank?
The 5-year CD interest rate offered by First Internet Bank of Indiana is 4.50% APY. In comparison, SchoolsFirst Federal Credit Union offers a 4.35% APY, and Quontic Bank offers a 4.30% APY on their 5-year CDs. Therefore, First Internet Bank of Indiana has a slightly higher interest rate than both SchoolsFirst Federal Credit Union and Quontic Bank for 5-year CDs.
What is the required minimum deposit and the corresponding interest rate to earn $2,500 from a 3-year CD at First Internet Bank of Indiana?
To earn $2,500 from a 3-year CD at First Internet Bank of Indiana, you would need to deposit $17,500. The corresponding interest rate for this CD is 4.61% APY.