VirtualBank CD Rates
VirtualBank is an FDIC-insured federally chartered bank based in Florida, and is a division of Lydian Private Bank. A financial institution rating service has classified Lydian Private Bank as “Well-Capitalized”, the highest capital classification rating available. We had heard that VirtualBank CD rates were among the highest CD rates currently available, so we thought we would research the issue. We were happy with the CD interest rates that we found.
There are basically two types of VirtualBank certificates of deposit, Regular CDs and eCDs. Since the eCDs have the best CD rates of the two, we will focus on those.
The VirtualBank 6 Month eCD earns an interest rate of 4.00 percent, yielding an Annual Percentage Yield (APY) of 4.08 percent. This VirtualBank CD requires a minimum deposit of $10,000.
The VirtualBank 12 Month eCD earns an interest rate of 4.35 percent, yielding an APY of 4.45 percent. This Virtual Bank CD also requires a minimum deposit of $10,000.
The VirtualBank 4 Year eCD earns an interest rate of 4.40 percent, yielding an Annual Percentage Yield of 4.50 percent. Like the other Virtual Bank CD rates, this one also requires a minimum investment of $10,000.
The VirtualBank 5 Year eCD earns an interest rate of 4.50 percent, yielding an Annual Percentage Yield of 4.60 percent. Again, a minimum deposit of $10,000 is required
So, if you are looking for a high interest rate FDIC-insured CD, you may want to consider checking out the CD rates at VirtualBank. Be certain to check out the VirtualBank online banking site to see the most up-to-date offers, as CD rates can change quickly.