Lehman Brothers Bank FSB currently has some competitive CD rates available. The best CD yield currently available is 5.50% APY for a 60 month term. The minimum deposit on all certificates is $1,000. Lehman Brothers Bank also has IRA CDs available.

Here are some of the terms and conditions:

• Interest will be credited to the account or paid out quarterly
• Early withdrawal penalty is 180 days of interest on the amount withdrawn for terms of over one year
• Grace period when you can make penalty free withdrawal after maturity is 7 calendar days

Lehman Brothers Bank is FDIC insured. Bankrate.com’s review gives it a 3/5 star rating.