CD rates at Santander are also the CD rates at Sovereign Bank because the former has acquired the latter. Santander Bank is a major financial institution of Spain that has recently acquired Sovereign Bank and has integrated all the company accounts and investment schemes into its own business.

Santander CD rates for a 12-month rising rate CD are currently estimated at 0.50% for an investment less than $10,000. Minimum investment required for these certificates is $500. The bank offers the option of receiving quarterly statements of CD payments.

Sovereign Bank CD rates for a 12-month special rising rate CD are a better investment option with an APY of 0.605% though an investment of $50,000 is necessary for this APY. An investment of $10,000 or higher with Premium Checking or Business Owner Premium Accounts will return an APY of 0.80%. IRA CD returns an APY of 0.50% for a 1-year term and 0.69% for a 2-year term; minimum deposit is less than $10,000 in both of these investment plans.

A 24-month rising rate CD with Premium Checking Account returns an APY of 1.05% for a minimum deposit of $50,000; APY is 1.55% for the 36-month investment option.

Sovereign Bank website offers the option of opening a CD account without visiting the bank branch. Customers are required to complete an online form where they have to enter their names, addresses, phone numbers, email address and driver license’s information. All of this information is verified by the company and customers receive usernames and encrypted passwords to log into their accounts through company website.

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Current Sovereign Bank CD Rates

Spain-based Banco Santander has acquired Sovereign Bank and thus oversees all the investment options in the United States. Sovereign Bank CD rates for 1-year investment are accrued at 0.95%. These rates are applicable for customers with premium checking accounts with the bank.

Santander CD rates for 9-months investment are currently priced at 0.70%. CD rates at Santander are calculated within the United States and do not have any link with its Spanish parent. Minimum investment required for these certificates is $500 and the bank offers an online subscription service for buying CDs. The bank offers the option of receiving quarterly statements of CD payments.

Sovereign Bank offers 12-month rising rate CD option and their APY increase with larger investments. A basic investment of less than $10,000 returns an APY of 0.60%. Premium checking accounts ensure higher returns. An investment of up to $10,000 with Premium Checking or Business Owner Premium Accounts returns an APY of 0.85%. IRA CD returns an APY of 0.60% for a 1-year term and 0.69% for a 2-year term.

Sovereign Bank website offers the option of opening a CD account. Customers are required to complete an online form where they have to enter their names, addresses, phone numbers, email address and driver license’s information. All of this information is verified by the company and customers receive usernames and encrypted passwords to log into their accounts through company website. They can do all the transactions or purchase new CDs on the company website.

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Sovereign Bank CD Rates

Sovereign Bank, the main unit of Sovereign Bancorp, offers a wide range of savings account options. Accounts offered by the bank depend on the Certificates of Deposit, among other things. Current CD rates, in particular, determine the total value of a savings account. Sovereign Bank CD Rates vary with the fluctuations in the market but there is a basic premier checking account that promises a 1.05% APY. This CD rate is valid for a term of 12 months and is available with the premier checking account.

Sovereign Bank certificate of deposit rates for a deposit of $1,000 at 1.05% APY would yield $1,011 in total. Interest would be accrued at $1 per month in this case. Similarly, Sovereign CD Rates can be increased in case the customers opt for a rise in rates within the allocated term. In this case, a basic deposit of $1,000 with 1.05% APY can be changed to an interest rate and APY of 0.89%; these rates are applicable for the premier checking accounts. Otherwise, an investment from $500 to $9,999 would yield an interest rate and APY of 0.64%.

Customers can also choose the term of their CD accounts from 30 days to 10 years. Minimum amount of deposit is $500 in all of the above-mentioned options; these rates remain valid for a maximum investment of $99,999. Customers can ask for quarterly financial payments from the company besides their account statements. The bank would charge slightly different interests rates in case the customers opt to invest without opening a premier checking account.

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Sovereign Bank CD Rates

The special (featured) Sovereign Bank CD rates are still the one year term accounts.  Of course, rates have dropped significantly market-wide and Sovereign CD rates are no different.  This one year term has a $500 minimum to open and gives a 1.75% annual percentage yield (APY).  That rate also assumes you have another relationship (checking, savings, etc.) with Sovereign Bank.

For something other than a year in terms, the real action in Sovereign Bank CD rates is with their Rising Rate CDs.  These accounts allow you to go up to a higher rate once during the account’s lifetime and your tradeoff for that is the account auto-renews for a like period of time (so 2 years renews for another 2 years).  These can give you the highest CD rates, though, if you don’t mind gambling a little as to which rate will be highest when it comes.

Right now, at $500 to $9,999 deposit, the 24-month Sovereign Bank certificate of deposit rates are 1.10% APY and the 36-month Rising Rate is 1.35% APY for the same deposit.  Higher deposits ads about 0.05% to those numbers.

Of all of the Sovereign current CD rates available, the Choose Your Term accounts definitely don’t give the highest CD rates.  Unless you must have a term under 12 months, they are barely worth considering.

Of course, all Sovereign Bank accounts are FDIC insured to the fullest extent of the law.

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Sovereign CD Rates

Although there are several types of Sovereign Bank certificates of deposit, the Sovereign CD Rates that we found most interesting were: (1) the Sovereign Bank Featured CD; and (2) The Sovereign Bank Rising Rate CD

(1)  The Sovereign Bank Featured CD — This is currently a Sovereign Bank 12 Month CD that earns an Annual Percentage Yield of 3.75 percent.  The minimum deposit for this 1 year CD is only $500.

(2)  The Sovereign Bank Rising Rate CD — the most interesting of these to us was the Sovereign Bank 24 Month Rising Rate CD, that requires Sovereign Bank Premier Checking.  This certificate of deposit earns an interest rate of 3.34 percent and an Annual Percentage Yield (APY) of 3.40 percent, with a minimum deposit of just $500.  If you are interested in a Sovereign Bank Jumbo CD, with a deposit of $10,000 or more you can get this same 2 year CD with an interest rate of 3.44 percent and an APY of 3.50 percent.

While these may not be the best CD rates that we have ever reviewed, they are certainly respectable.   So, if you are in the market for a 1 year CD or a 2 year CD, you may want to check out CD rates at Sovereign Bank.  Be sure to check the Sovereign Bank online banking site for the current rates and terms available in your region.

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Sovereign Bank CD Rates