Sarasota CD Rates Help you Save
Certificates of deposit are an easy way to make money on your savings, and current Sarasota CD rates can help you reach your goals faster.
Benefits of Sarasota CDs
Purchased from Sarasota banks or credit unions, CDs allow you to gain interest, as long as you allow your CD to mature completely. You are committed to a specific amount of time, from as little as one-month to as much as five years. With traditional CDs, if you are forced to make an early withdrawal, you will likely face a penalty fee.
Sarasota CDs require you to leave your money alone while the funds mature. Early withdrawal penalties will likely give you an incentive to let your stash be and accrue interest. While savings accounts let you add and subtract to the fund, CDs are an excellent option for those that are not the best savers or are constantly dipping into their savings.
Where to Find the Best Sarasota CD Rates
CDs are available in several term lengths. The longer the term, the more interest or Annual Percentage Yield (APY) earned. Unlike savings accounts that offer a modest return on investment, CDs can offer up to 2% or more on your saved cash.
Check out the banks and credit unions with the highest Sarasota CD rates today across a variety of term lengths:
6-month Sarasota CD rates:
- Geico Credit Union: 0.8%
- Heritage Bank of Florida: 0.75%
- Powernet Credit Union: 0.6%
12-Month Sarasota CD rates:
- Heritage Bank of Florida: 1.05%
- The Bank of Commerce: 1%
- Geico Credit Union: 1%
2-year Sarasota CD rates:
- Geico Credit Union: 1.3%
- GTE Federal Credit Union: 1.26%
- Heritage Bank of Florida: 1.25%
The above rates are accurate as of 9/29/11, but may change at any time in the future. Please contact individual financial institutions directly to verify rates and learn about any additional requirements.
