West Virginia

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Beckley, West Virginia CD Rates 2019

Below are the best one-year CD Rates from banks in Beckley, West Virginia. One year CDs are usually the most popular term and offer a decent yield without having to lock-up money for an extended period of time. One year CD Rates are generally comparable to or a little higher than their savings and money market counterparts.

Beckley, WV - August 21, 2019

1 Year CD National Average : 1.01% ?

Advertiser Disclosure
BankS APY MIN MILES ?
2.17% $100 5070.15
2.02% $1,000 5036.06
2.02% $500 5112.67
2.01% $1,000 5101.68
2.00% $500 5059.04
2.00% $1,000 5111.30
2.00% $2,500 5079.42
2.00% $1,000 5021.97
1.90% $10,000 5115.92
1.87% $500 5048.36
1.76% $1,000 5048.33
1.76% $1,000 5103.21
1.76% $500 5071.82
1.65% $100,000 5046.64
1.65% $500 5105.68
1.56% $100,000 5101.46
1.55% $1,000 5046.64
1.50% $100,000 5112.77
1.45% $2,500 5115.92
1.41% $500 5101.46
1.36% $500 5101.46
1.26% $100,000 5014.46
1.25% $500 5073.89
1.16% $500 5101.46
1.16% $500 4964.13
1.15% $500 4980.79
1.11% $1,000 5014.46
1.10% $500 5000.47
1.06% $500 5072.75
1.06% $500 4981.25
1.06% $50,000 5076.30
1.05% $1,000 5048.54
1.01% $100 5070.15
1.01% $2,500 5099.18
1.01% $10,000 5076.30
1.01% $1 4988.05
1.00% $1,000 5094.27
1.00% $1,000 4981.34
1.00% $500 5009.45
1.00% $500 4942.44
1.00% $500 5046.28
0.95% $1,000 5052.90
0.85% $500 5032.05
0.80% $1,000 5014.45
0.80% $100,000 5007.13
0.75% $100,000 5013.54
0.75% $1,000 5007.13
0.60% $500 5021.97
0.60% $500 5031.49
0.55% $500 5098.70
0.55% $500 5013.89
0.55% $100,000 5045.47
0.50% $500 5109.57
0.50% $500 4993.99
0.50% $500 5013.54
0.50% $1,000 5093.29
0.50% $1,000 4939.54
0.50% $1,000 5038.61
0.45% $500 5045.47
0.40% $1,000 5092.39
0.35% $500 5086.42
0.35% $500 5077.28
0.35% $2,000 5079.42
0.35% $1,000 4950.99
0.35% $100,000 5089.41
0.30% $500 5069.55
0.30% $500 5069.55
0.30% $500 5103.69
0.30% $100,000 5078.66
0.25% $1,000 5089.41
0.25% $2,500 5001.48
0.20% $500 5111.30
0.20% $1,000 5089.43
0.20% $500 5103.21
0.20% $500 5050.72
0.20% $500 5078.66
0.15% $1,000 5016.32
0.15% $10,000 4999.68
0.15% $500 4968.67
0.15% $500 5103.73
0.10% $10,000 5073.69
0.10% $10,000 5078.82
0.10% $1,000 4988.05
0.10% $10,000 5112.77
0.01% $10,000 5034.03
All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Certificates of Deposit - Branch Banks 2019

A certificate of deposit (CD) is a savings product offered by a bank in which a depositor (someone who has money to put into the bank) agrees to commit a certain amount of money for a set period of time, in return for a fixed rate of interest. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.

CD Terms

The time period in which money is held in a certificate of deposit is called the term. Terms can run for any period of time but in general, banks use the following terms: 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months. Terms can either be described in months or years. The term that is right for each individual depends on their goals, the rate they which to earn, and their future plans for the money. In general, if rates are going up, savers should avoid putting the money into a long-term CD. If rates are going down, then the opposite is true, and savers should try and lock into a good rate for an extended period of time. In stable rate environments, CDs that are over 12 months in length can enable depositors to pick up a slight premium over savings accounts.

CD Risk

Almost all banks provide CDs to their consumers and they have been a mainstay of savers and retirement accounts for years. If FDIC insured, the CD represents a safe place to put money that will generate a predictable return.

Inflation is the main risk of a CD. Inflation can often run higher than the inflation adjusted return on a CD, thus eroding the value of the money stored in the CD over time. This is especially true for longer-term CDs opened in low interest rate environments.

How Interest is Paid

The method of distributing the interest earned on a CD varies by bank. Some banks pay interest monthly, other semi-annually, and others at the maturity of the CD. One advantage of a branch-based bank is that a depositor can walk into the bank and receive their interest that day in the form of a check. Online banks tend to use electronic funds transfer or check via mail.

Interest Rate

Since the financial crisis in 2008, CDs have become less popular because the yields they offer have dropped precipitously, making it difficult for retirees and savers to generate sufficient income. But investors looking for a place to stash some cash might still find CDs an attractive place for some of their savings. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.

When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.

ADVANTAGES AND DISADVANTAGES

The advantages of a Certificate of Deposit from a branch bank are:

  • Funds deposited in FDIC banks and within insurance limits are protected by the full faith and credit of the United States government.
  • CDs provide a predictable, set rate of return.
  • Depositors can walk into a local branch and open the CD and fund it that day. Question and inquiries can also be handles in-person.

The disadvantages of branch-based CDs are:

  • The deposited money is committed for a certain period of time and can only be withdrawn with substantial penalties.
  • One year CDs from branch banks often pay less interest than from online banks. Please see those rates here.

All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

SAVINGS & CD CALCULATOR

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