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You bet, that time has blown in. And the time is? Well, time for a High CD Rate Round-up.

To begin, if you are hunting for something short-term, DanversBank maybe a excellent place to look. A little interesting tidbit here. They were established in 1850, but didn’t become FDIC insured until 1985. Lots of people had a lot of trust in this bank. They have a 4-month special at 2.00%. I’m guessing they have a short-term deposit problem. Typically banks offering high short-term CD rates are trying to lure you. After the initial period, the renewal rates are bound to be low. So keep an eye in the mail and be ready to move on. DanversBank’s FDIC number is 90185. They have about $1.7BB in assets, had a 1st quarter profit, they are considered well capitalized, and earned a 3-star rating.

Coming second, I have Discover Bank with a 1-yr at 1.98%. They were founded in 1911 and became FDIC backed in 1934. Discover Bank is located in Delaware. The bank is quite huge ,but has not yet attained MegaBank status with $37.5 Billion in assets. Unfortunately, being a credit card bank during an economic down turn is not easy. They have 1st quarter losses of about $69.3MM. They are considered well capitalized however. The bank’s FDIC # is 5649. Discover Bank has earned a 3-star rating. As you’ll see below, they have some one-uppers. Maybe they will take notice of my round-up and increase their CDs.

Wilshire State Bank (FDIC 23301) is based in California. They were founded in 1980 and have a good 6-month certificate yield of 1.96%. They also have one of the best CDs for 1-year at 2.15% APY. They have a high 4-star rating.

I found a pretty good 2y certificate of Deposit rate with Citizens First Savings Bank, Port Huron, Michigan (FDIC 30005). For MI CD Rates this is an especially good CD at 2.50%. But, the bank is in bad shape. Even more depressing, they have been around since 1938. With a 1-star rating they are not well capitalized and have very low capital ratios.

Top 2Y yields in low quality banks must be all of the rage. Frontier Bank, WA (FDIC 22710), also has a 2-yr CD at 2.50%. This CD also has a 1-times bump option. Despite being well capitalized, large losses have earned them 1-star.

Bank quality isn’t getting much better. We complete our round-up with Acacia Federal Savings Bank (FDIC 32266) and Northpointe Bank (FDIC 34953). Acacia has a 5-year at 3.60% APY with a 2-star rating and Northpointe has a 3Y at 3.00%, but only 1-stars.

You won’t lose a dime, just some time, as long as you stay under the FDIC insurance limits ($250,000 through 12/31/13). And the FDIC has been very quick about returning CD proceeds. Keep in mind, most bank closures this year have not been complete shut-downs. The FDIC has had arranged for acquisitions by other healthier banks. Please watch the terms on your CD though. I wouldn’t invest above $100,000 for CDs that will mature beyond 12/31/13.

For other rates by state visit CD Rates FL.

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