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Virtual Bank Raises 1 Year CD Rate to 4.34%

Virtual Bank Raises 1 Year CD Rate to 4.34%

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Author: Cindy Lewis on August 8, 2008

Virtual Bank now offers the best 1 Year and 3 month CD rates.

Virtual Bank, a Florida-based online bank, has raised their CD and savings rates.

As of August 8, the bank's rates are now the best 3 month and 1 year CD rates according to the BestCashCow.com rate charts.

In the past, the bank has tended to raise and lower rates quickly, so depositors will probably need to act quickly in order to secure these rates and to monitor the bank's savings rates carefully if they choose to open savings accounts.

As with all deposits in this uncertain period, depositors should be careful to keep deposits below the FDIC insurance limits.

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Today's Highest Online CD Rates

Bank	Product Term	Interest Rate (APY)
Northern Bank Direct	1-Year	5.60% APY with $500 minimum
Finworth, a division of InsBank	1-Year	5.38% APY with $50,000 minimum
TotalDirect, a division of City National Bank of Florida	1-Year	5.35% APY with $25,000 minimum
Dollar Savings Direct, a division of Emigrant Bank	3-Year	5.00% APY with $1,000 minimum
First Internet Bank of Indiana	3-Year	4.66% APY with $1,000 minimum
IncredibleBank	3-Year	4.58% APY with $1,000 minimum
First Internet Bank of Indiana	5-Year	4.55% APY with $1,000 minimum
BMO Alto, a division of Bank of Montreal Harris	5-Year	4.50% APY with no minimum
Department of Commerce	5-Year	4.34% APY with $500 minimum