bank rates

1-Year CD Rates Hold In Falling Climate

AloStar Bank of Commerce pays the top CD rate of 1.27%.Twelve-month CD rates might not be strong, but at least they’re stable.

Not only has the term leader held steady, most of the banks I’ve been tracking for our CD Rates Leaderboard have as well.

AloStar Bank of Commerce ( offers the top nationally available 12-month CD rate of 1.27% APY.

The online bank based in Birmingham, Ala., requires a $1,000 minimum deposit.

Next in line is E-Loan (, a subsidiary of Banco Popular North America, which pays 1.26% APY with a $10,000 minimum deposit.

Sallie Mae Bank (, an online bank owned by the student lender with a single branch in Murray, Utah, pays the third best 12-month rate of 1.20% APY — and has no minimum balance requirement.

Aurora Bank (, which has branches in Wilmington, Del., and Jersey City, N.J., did drop its rate slightly this past week. It’s now paying 1.17% APY with a $1,000 minimum deposit.

Two banks are paying 1.16% APY:

Virtual Bank (, an online bank owned by Miami-based Sabadell United Bank, requires a $10,000 minimum deposit.

MainStreet, a northern Virginia bank that sells its CDs nationally through its airbanking website (, requires a $500 minimum deposit.

The average yield offered by big banks and thrifts for 12-month CDs is currently 0.41%, which is a new record low for the term.

(Prior record lows were set just last week and the week before. Sigh.)

These banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, either online or through the mail.

Compare these returns with the best CD rates from scores of banks in our extensive database.

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Comments (1)
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One Existing Comment
  1. Mike Cetera said:
    on August 31st at 10:29 am

    AloStar has cut its 12-month CD rates. The best nationally available deal now belongs to E-Loan.