Sunday, April 22, 2012

INOVA Slashes CD Rates--No Longer Competitive

INOVA Federal Credit Union has slashed the rates on their 5-year and 6-year CDs. They no longer are competitive with PenFed's 5-year and 7-year CDs. So for holding periods of three years or more, the PenFed 7-year now is the way to go. For shorter holding periods, the Ally 5-year CD paying 1.69% (APY) still is the winner. As always, you may be able to find a similar or better deal at a local credit union, and you may find comparable rates from other banks or credit unions at DepositAccounts.com. Congrats to those of you who got in on the good deal while it lasted.

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