Saint Louis CD Rates vs. National CD Rates
Banking locally can be a great feeling, especially because you know that Saint Louis CD rates can be high and also because you’re helping out a local business. But before you become too loyal to your local Saint Louis bank or credit union, be sure to check out national offerings as well to see how your CD account rates stack up to the competition.
Local banks generally offer higher CD rates due to lower overhead costs and savings that will be repaid to customers, and they are willing to market themselves more aggressively to earn your business. However, there are just some things a local bank may be lacking that larger banks can provide. You must decide for yourself whether or not the highest rate is the best rate for your individual circumstances. Don’t forget that you will also have to take into account the amount of time you won’t have access to your money.
Use our CD rates comparison chart to see just how high rates are across the nation, and decide for yourself whether you should open a local CD account or bank with a larger institution.