TheStreet.com regularly goes in search of the best rates for various banking products. Today's focus is on long-term CDs.

You've found a long-term CD rate you like and, before CDs fall any lower, you want to lock it in.

Long-term CD rates have dropped over 0.35% in the past week, according to BankingMyWay.com. And with the Federal Reserve's surprise rate cut last week, and another 0.5% slash by the Fed this afternoon, CD rates may not have hit bottom. (BankingMyWay numbers are weighted averages of rates it received over the previous week.)

But if you are buying the CD with a check, which you might do if you're dealing with an online bank, be aware: The funds will likely have to be received by the bank within a certain number of days.

Miss the deadline and you may miss your rate.

A missed deadline doesn't have to be your fault: If a bank makes a mistake in posting, and you have no evidence they received your check on time, you'll likely still end up with a lower rate.

So be cautious, send checks in via registered mail so you have proof of when you sent it and when they got it.

We checked around on BankingMyWay.com for the best rates on long-term CDs. In all cases, geographical and other terms and conditions may apply -- check with the institution. All rates have been updated on or after Jan. 23. All rates are measured by annual percentage yield.

  • EverBank offers 48-month CD at 4.3% and a 60-month CD at 4.7% with a minimum investment of $1,500.

  • Community Federal Savings Bank offers a 48-month CD at 4.25% and a 60-month CD at 4.5% with a minimum investment of $500.

  • Principal Bank (PFG) offers a 48-month CD at 4.2% with a minimum investment of $5,000.

  • Washington Mutual Bank (WM)offers a 48-month CD at 4.110% with a minimum investment of $10,000.

  • Guaranty Bank (GFG)offers a 48-month CD at 4.25% with a minimum investment of $1000.

  • GMAC Bank offers a 48-month CD at 4% with a minimum investment of $500.

  • Banco Popular North America offers a 48-month CD at 4% with a minimum investment of $10,000.

  • Huntington National Bank offers a 48-month CD at 4.25% with a minimum investment of $2,000.
  • Elsewhere, here's a look at the national averages for loan rates on various types of CDs:

    To search for local rates on CDs, click here.