Allstate Bank CD Rates
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Allstate is a trusted and well respected name whether you are talking about insurance or banking. The Allstate Bank has a variety of products and services to offer all of its customers. It also has its share of reasons why potential customers should turn their attention in its direction.
Allstate is a trusted and well respected name whether you are talking about insurance or banking. The Allstate Bank has a variety of products and services to offer all of its customers. It also has its share of reasons why potential customers should turn their attention in its direction.
As far as deposit accounts are concerned, Allstate offers high yield savings, CDs and IRA CDs, insured money market and checking accounts. A certificate of deposit (CD) is a short-term (and in some instances, long-term) means of investing your money and earning interest on a regular basis. Here are the current Allstate Bank CD rates:
• 30 day CD- 0.15% APY (annual percentage yield)
• 90 day CD- 0.30% APY
• Six month CD- 0.40% APY
• One year CD- 0.90% APY
• Two year CD- 1.25% APY
• Three year CD- 1.60% APY
• Five year CD- 2.30% APY
If you compare these rates listed above to the national average you will find that they are very competitive. It is always wise to shop around for the absolute best interest rates available. Most CDs have fixed interest rates which are why you want to lock in the best rate possible from the very beginning.
At the Allstate Bank saving and investing is all about tomorrow while at the same time you want to live for today and all that is happening in your life right now. It is important to figure out what type of investment is most appropriate for your life right now. If you are not sure which type is right for you then an Allstate representative will be more than happy to assist you in any way that he or she can. Allstate offers both short and long-term certificates of deposit for all of your investment and future financial goals.
At Allstate there are regular CDs and there are also IRA CDs. IRA CDs come with the same benefits as regular CDs but they have one additional feature which is that they have tax benefits. In the case of a Traditional IRA your money is tax-deferred while in the case of a Roth IRA it is tax-free.
The CD and IRA CD offered by the Allstate Bank have plenty of worthwhile features worth mentioning. There are seven different options of maturities. There are 30 days, 90 days, six months, one year, two years, three years and five years. For personal accounts you must open a CD with a minimum balance of $1,000. You are not permitted to make any additional deposits until the maturity date has been reached. You are however allowed to withdraw the interest you earn on a monthly basis without fear of penalty.
To learn more about the Allstate Bank CD rates visit the website at http://www.allstatebank.com/.
