ING Direct raised the rate on its 18 month CD to 4.5% APY, making it the best 18 month cd rate according to the BestCashCow rate tables.

While ING Direct pioneered the high yield online savings account, it has not offered highly competitive rates for several years. Recently, ING has begun to offer more competitive rate products. It recently starting offering a 12 month, 4% APY CD which is competitive with other top cd rates.

That's good news because ING has a very easy account opening process. It can all be done online and the bank offers online validation of an account as well as ACH transfers into and out of their savings accounts and CDs. Other features of their CDs include:

• No minimum deposit.
• The ability to automatically transfer interest monthly or annually to an ING Savings account or a linked account at another bank.
• Notification 35 days prior to maturity and 10 days after maturity to close the CD, change the amount, or change the term - without penalty.
• The ability to open joing account CD or open the CD as a living trust.

See all 18 month CD rates.

Banks are still aggressively looking for your money. As the economy slows and more bad news come out of Wall Street, more banks are raising rates than lowering them. Below are the banks that raised rates over the last couple of days. The bolded bullets are offers that are now the highest for their term according to the BestCashCow rate tables.

• Crestmark Bank Raises rate on 3 month cd from 3.80% to 3.90% APY. Minimum deposit of $25,000. This is the best 3 month CD rate according to the BestCashCow rate table.

• GMAC bank raised several terms. Minimum balance on all CD accounts is $500.
  • 6 month CD from 3.80% APY to 4% APY.
  • One year from 4.15 to 4.25% APY.
  • Two year from 4.30 to 4.35% APY.

• Discover Bank increased rate on its 2 year CD from 4.41% APY to 4.44% APY

• Advanta increased the rate on:
  • 2 year cd from 4.10% APY to 4.25% APY.
  • 5 year cd from 4.55% APY to 5.05% APY.

• Amtrust's 6 month CD at 4.15% is the new top cd for this term.

Amtrust is now paying 4.15% APY for a 6-month CD, up from 3.51% APY. This is now the best 6-month cd rate according to the BestCashCow rate table. Of the top cd rates, it also has one of the lowest minimum balances at $1,000. Amtrust is also offering a high yield 12 month cd at 4.30% APY, a top rate on 18 month CDs at 4.38% APY, and 2 and 3 year cds at 4.35% APY.

Amtrust has been hit hard by the housing meltdown and is currently rated 2 stars by Bauer Financial. As with any bank, we recommend you stay within FDIC limits when deposting money into Amtrust.