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CD Leaderboard: Best 2-Year CD Rates Move Up, 4-Year CD Rates Fall

CD rates Leaderboard

Our CD Rates Leaderboard of the top nationally available bank certificates has seen a little plus-and-minus this morning.

A brand new contender has not only entered our national CD rankings, but has joined the lead for 24-month returns, while the top 48-month yield has taken a substantial fall.

First, let’s welcome Pacific National Bank.

Given the name, you’re easily forgiven for thinking this is a west coast bank. In fact it’s in Miami, where it has been operating as Pacific National since 1985.

The name originates from the bank’s founding by Banco Del Pacifico Ecuador (Ecuador lies on South America’s Pacific coast). But it is these days fully U.S.-owned and is FDIC insured like all the banks in our national and local rankings.

Pacific National has more than a dozen branches throughout Miami-Dade County and until recently, operated as a local bank. But it has now opened its CDs to customers nationwide by making them available online. Click here to read more

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Seven Nationally Available Savings Accounts Pay 1.00% Or More

Hand grabbing money out of a jar

UFB Direct, which had been paying 1.20% APY since January, recently cut its rate to 1.00% APY, dropping it out of second place on the savings leader board.

And with Britain voting to exit the European Union, putting financial markets into turmoil, it’s unlikely that the Federal Reserve will be boosting interest rates any time soon.

Some traders are betting the Fed may actually reduce rates, so it’s not clear how savings rates will change in the coming months.

The savings account leaders

First place on our leader board remains with The Palladian PrivateBank, which is paying 1.30% APY for a guaranteed six months.

After the promotional period ends, the rate returns to the regular rate, which currently is 0.90% APY. That gives you a combined annual return of 1.10%.

It only takes a minimum deposit of $1,000 to open an account with The Palladian Private Bank, and you didn’t need to keep a certain amount in your account to earn interest.

The Chicago-based bank is a division of PrivateBank and Trust Co., which has 34 offices, primarily in the Midwest. Click here to read more

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CD Leaderboard: Top 24-Month CD Rate Now Pays 1.50%

CD rates Leaderboard

It was just two weeks ago that E-Loan lowered the bar on what you could earn on a nationally available 2-year CD.

And today (sigh), they’ve done it again.

E-Loan lowered its 24-month yield to 1.50% APY, which is still enough to top our CD Rates Leaderboard of the best nationally available bank certificates.

But it’s the second decrease E-Loan has made in the last four weeks.

In mid-May, we were delighted to see them boost the term to 1.60% APY, which was the best 24-month national lead we’d seen since June 2011.

But then came a reversal to 1.55% APY two weeks ago and now today’s further reduction.

At 1.50% APY, this means the 2-year lead rate now sits below the 1.52% APY you could earn before the Federal Reserve hiked interest rates in December. Click here to read more

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Bring Home A Deal Worth Bragging About From Spokane Teachers Credit Union

In what’s become a repeating pattern, Washington and north Idaho savers are being treated to a special chart-topping rate on the same odd-term CD.

And the already sweet deal recently got even sweeter.

Spokane Teachers Credit Union, which refers to itself as STCU, has been offering a 30-month President’s Premium certificate for more than five years now.

Its rate isn’t always competitive with the top nationally available mid-term CDs. But once or twice a year, STCU spikes the rate to top what savers can earn from the best-paying national banks.

Its latest iteration of the promotion brings the President’s Premium certificate up to 2.02% APY, after unveiling a 1.76% yield three months ago.

That puts STCU almost half of a percentage point above the top nationally available 24-month yield of 1.55% APY from the banks on our CD Rates Leaderboard, and handily outdoes the top 36-month return of 1.66% APY as well.

All of this means it qualifies once again for a spot in our constantly updated roundup of the country’s top-paying CDs from credit unions and community banks. Click here to read more

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Bank 1.36% On 13-Month CDs Across Texas

Woman holding a piggy bank with her right hand

Bank of the Ozarks operates in nine states across the country but has chosen Texas savers as the lucky recipients of a special year-long CD it’s currently offering.

Paying 1.36% APY on 13 months, the bank’s promotional certificate requires a minimum deposit of $1,000.

That yield is certainly enough to outdo the top nationally available 12-month return of 1.26% APY from the banks on our CD Rates Leaderboard.

It also gets the multistate bank into our roundup of the best-paying credit union and community bank CDs from around the country for the first time in almost six years.

Bank of the Ozarks does not publish its rates online, but I’ve confirmed that this promotion is available at all of the bank’s Texas locations. Just be sure to call ahead if you want to check that the rate is still available. Click here to read more

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TransCapital Bank Pays 1.20% On 10-Month Certificates Of Deposit

Woman holding up a piggy bank with money coming out of it.

CD savers who can get to a TransCapital Bank branch in south Florida have the chance to score a top short-term rate.

The community bank is paying a sunny 1.20% APY on 10-month certificates of deposit. A minimum deposit of $5,000 in new money is required.

The top 6- and 12-month yields on our CD Rates Leaderboard of the best nationally available bank returns currently stand at 1.05% and 1.26% APY, respectively, so this 10-month offer is right in line with the country’s top yields.

It’s also enough to earn TransCapital its first-ever appearance on our constantly updated roundup of the nation’s best-paying CDs from credit unions and community banks.

Opening a CD with TransCapital does require visiting one of its three branches, which are located in Sunrise, Delray Beach and Hallandale Beach. Click here to read more

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Quorum FCU Offers Coast-To-Coast Deal On 10- And 3-Month CD Rates

Pink piggy bank with glasses on top of books in front of chalk board

With the Federal Reserve sitting on any further rate increases for now, short-term CDs can hold special appeal for savers waiting to see what transpires over the coming year.

If you’re of that mindset, Quorum Federal Credit Union has two outstanding offers on tap, no matter where you live.

It’s offering 1.06% APY on 3-month certificates of deposit, and 1.40% APY on 10-month CDs. Both require a minimum investment of $1,000.

A look at our CD Rates Leaderboard of the top nationally available bank yields shows that the best 3-month CD rate is 0.83% APY, while the top 1-year CD rate is 1.26% APY, making winners of both of these Quorum deals.

A search through Bankrate’s extensive database of the day’s best CD rates is still always smart, though, as new offers can appear quickly. But right now, these yields will be hard to beat.

We love deals from Quorum because it’s one of the easiest credit unions in the country to join. Click here to read more

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CD Leaderboard: Top National 3-Year CDs Now Pay 1.66%

CD rates Leaderboard

Once again, E-Loan has decided whether or not it wants to lead one of the terms on our CD Rates Leaderboard of the top nationally available bank yields.

And yet again, its decision has dealt another blow to the already suffering 3-year term.

An online portal of Popular Community Bank, E-Loan lowered its 36-month return this morning from the unimpressive yet top-billed national rate of 1.70% to 1.65% APY.

With this drop, E-Loan cedes the lead to three banks paying 1.66% APY: Silvergate Bank, State Bank of India-Chicago and State Bank of India-New York.

E-Loan has been toying with its 36-month rate since January, when it gave up the 1.85% APY it unveiled in July.

That was the best leading 3-year return we’d seen since 2011. Click here to read more

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1-Year CD Rates Roundup: Earn 1.26% Nationally, 1.94% Locally

piggies in the round

Well, it was nice while it lasted.

The top return on nationally available 1-year CDs had reached a high-water mark of sorts this spring, rising to the best leading yield we’d seen in almost five years.

Sadly, it has since sunk.

Even worse, it’s submerged below what you could earn before the Federal Reserve raised interest rates in December.

That makes national 12-month certificates one of three losing terms among the seven we track on our CD Rates Leaderboard, with the 36- and 60-month leads also lower than before the Fed hike.

Fortunately, you can continue to earn up to 1.94% APY from local offers at credit unions and community banks (and for one lucky group of savers, an astonishing 5%), and we can tell you just where to find those deals.

But with the Fed’s first hike translating into almost no upward rate movement by banks, it appears we’ll need to see two — or even three — rate hikes before savers begin seeing boosted returns on their savings accounts and certificates of deposit.

What can we expect from the Fed? And when?

It’s a guessing game that’s popular the world over, but we’ll fill you in on the details. Click here to read more

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