For CD's, Money Markets, Savings and Interest Checking accounts, manybanking.com obtains rates on a weekly basis. For loan rates, we obtain data at a variety of intervals and have listed the date of the last update on the results pages. We make every effort to keep rates accurate and current. Please verify information with the financial institution before investing or borrowing. Our rate information and content is collected from a variety of resources, including financial institutions, the FDIC, and various web services. We also subscribe to a comprehensive rate survey service.
Are all branch offices in my city included for larger institutions?
Coverage can vary on the site. sbup makes every effort to include each branch of a bank. Check the financial institution's website or call to find the branch nearest to you.
What is the difference between APR and APY?
The answer to this question may be found in our Glossary
What do BUMP, New $ and other comments for Specials mean?
The answer to this question may be found in our Glossary
How often are rates updated on the database?
Rates are updated on a weekly basis. Prior to visiting a financial institution, call to confirm that the rate is still current and that the institution is willing to accept your investment.
How much can I rely on the information relative to Deposit Insurance?
We obtain this information from the Federal Deposit Insurance Corporation (FDIC) for banks and savings associations, and from the National Credit Union Administration (NCUA) for credit unions. Use this as a guideline to narrow your selection process. Once you choose a particular institution, be sure to confirm that they have Deposit Insurance prior to investing. Also, take note of the limits of coverage (generally $100,000 for non-IRA deposits and $250,000 for IRA deposits.)
What do the sbup rate indices refer to? How are they calculated?
sbup calculates seven different indices total. These indices include our flagship index, the sbup Mega 250, a Composite Index, and five regional Indices.
Mega 250 Index
The sbup Mega 250 Index refers to the largest (based on total deposits) 250 financial institutions that we track. Financial institutions include Banks, Savings and Loans and Credit Unions. Mega 250 Index is an average of all CDs and Specials for that specific term and with a required minimum investment of $10,000 or less. We also include CD Specials in each region within 5 months of selected maturity, as long as their required minimum investment is $10,000 or less.
The sbup Composite Index is an average of all CDs, (with a required minimum investment of $10,000 or less), in our database. We also include CD Specials in each region within 5 months of selected maturity as long as their required minimum investment is $10,000 or less.
Each sbup Regional Index is a subgroup of the Composite Index, and is an average of all CDs, (with a required minimum investment of $10,000 or less), in our database for that region. We also include CD Specials in each region within 5 months of selected maturity, as long as their required minimum investment is $10,000 or less.
Our Regional Indices align with Federal Reserve Districts. Often the Federal Reserve districts follow state borders, but a few states are split between districts so the state/territory listing below is a rough guideline. For more complete information on what states or portions of states are included in a Federal Reserve District, please visit the Federal Reserve website.
The Northeast regional index includes the areas located in the Federal Reserve Districts 1, 2 and 3.Â Included in this region are:
1st District: Connecticut (excluding Fairfield County), Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont
2nd District: New York State, twelve counties in northern New Jersey, Fairfield County in Connecticut, Puerto Rico, and the Virgin Islands
3rd District: Eastern Pennsylvania, southern New Jersey, and all of Delaware
The East regional index is made up of Federal Reserve Districts 4 and 5. Included in this region are:
4th District: Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia
5th District: Maryland, Virginia, North Carolina, South Carolina, and most of West Virginia
The Southeast regional index follows Federal Reserve District 6.Â States included are Alabama, Florida, Georgia, and parts of Louisiana, Mississippi, and Tennessee
The Central regional index is made up of Federal Reserve Districts 7, 8, 9, 10 and 11.Â In general, the included states are:
7th District: Iowa and most of Illinois, Indiana, Michigan, and Wisconsin
8th District: Arkansas and portions of six other states: Missouri, Mississippi, Tennessee, Kentucky, Indiana, and Illinois
9th District: Minnesota, Montana, North Dakota, South Dakota, twenty-six counties in northwestern Wisconsin, and the Upper Peninsula of Michigan
10th District: Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico, and Western Missouri
11th District: Texas, northern Louisiana, and southern New Mexico
The West regional index is made up of Federal Reserve District 12.Â States included in this region are Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington--and American Samoa, Guam, and the Northern Mariana Islands
Why can't I find a specific rate that I know exists at a certain financial institution?
There are several reasons that a specific CD rate may not appear in any of your searches. Many financial institutions will only accept local residents. If you are not eligible to be a customer of the institution, it may not be included in your search results. Our search provides only rates that are "above average" for the defined area. As a general rule, most customers are only interested in investing in above average rates. We exclude CDs that are considered "Relational Specials." These CDs require you to have some type of relationship with the financial institution, for example, a checking account. We include only CDs that have a minimum investment requirement of $10,000 or less. Many institutions offer CDs that require higher minimums. If you have more than $10,000 to invest, use our search results as a guide and inquire about whether you can obtain a better rate with larger investment amounts.