March 19, 2010, seven more banks were shuttered by the FDIC.  Probably one of the more well known was Advanta Bank in Utah.  Advanta had numerous offerings across the Web.  That closure is expected to cost the FDIC over $600MM.  These days it is more important than ever to find a quality bank.  You just never know and you don’t want to take the time to just turn around and have to do it all over gain a few weeks or months later.

9-Month CDs are considered an odd term and unless you really need that term you are usually better of going with a 6-month or 1-year CD.

Never the less here are some rates I found.

USAA FSB — 1.11% APY.  5-Stars

Chase Bank — 1.00% APY.  Does require a checking account.   3 1/2-star Rating.

Bank of Internet USA — 1.00% APY. Actually the same rate from 6-months to 11-months. 5-stars.

If you can to 1-year you can get almost a full percent higher.  Alliant Credit Union has a 2.10% APY for a 1-year CD.  5-star Rating.

The FOMC is still promising to hold rates low for an extended period of time.  So sadly there is just no way to know when rates will be going up.

From the FDIC website you can do your own due diligence by looking at the various ratios.  Look for a capital ratio above 7%, a total risk based capital above 10%, and if the institution has a loss, make sure it is only about 25% of the capital when you adjust for yearly earnings.

Let me know if you find some good CD deals.

9 Month CD Rates

Check-out  CD Rates MA.