Virtual Bank Raises CD Rates by 0.05%

Today(02/09/2010) Virtual Bank raised the interest offered on all their CD by at least 0.05% APY. This news bodes very well for savers, and I am hoping that other online banks like ING Direct follow in their footsteps. Virtual Bank is now offering one of the best rates for short term CDs (18 months or less).
The new CD rates for various terms are listed below.

• 1 Month  0.35%  $10,000  minimum deposit
• 2 Month  0.40%  $10,000  minimum deposit
• 3 Month  0.75%  $10,000  minimum deposit (top rate)
• 6 Month  1.06%  $10,000  minimum deposit (top rate)
• 9 Month  1.11%  $10,000  minimum deposit (top rate)
• 12 Month 1.25%  $10,000  minimum deposit (top rate)
• 18 Month 1.36%  $10,000  minimum deposit
• 2 Year   1.51%  $10,000  minimum deposit
• 3 Year   1.82%  $10,000  minimum deposit
• 4 Year   2.02%  $10,000  minimum deposit
• 5 Year   2.33%  $10,000  minimum deposit