Tiny Wanda, Minn., about 2 ½ hours southwest of Minneapolis, can boast some of the best local CD rates in the country.
Wanda State Bank is offering 3-, 6-, and 12-month CD rates that beat the best nationally available deals.
The bank’s best offer is on 1-year CDs.
It’s paying 1.60% APY with a minimum deposit of $500. That deal is almost two-tenths of a percentage point better than you’ll find on our CD Rates Leaderboard — and at a fraction of the minimum deposit required by national rate leader Melrose Credit Union.
Wanda State Bank’s (www.wandastatebank.com) other deals are not quite as good, but only because of the high minimum deposits required.
It’s offering a 3-month CD at 1.05% APY with a $20,000 minimum deposit and a 6-month CD at 1.35% APY with a $10,000 minimum deposit. Both offers are about a quarter point better than the best nationally available deal.
You must be a Minnesota resident to buy these certificates of deposit, which are available at Wanda State Bank’s single office in Wanda.
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