bank rates

12-Month CD Rates Still Top Out At 1.76%

Online banks and that feisty credit union from Queens have come to dominate our rankings of the top 12-month CD rates.

The closest thing to a traditional bank you’ll find is Ascencia. It’s an online division of PBI Bank, which has 17 branches in central Kentucky.Online banks and that feisty credit union from Queens have come to dominate our rankings of the top 1-year CD rates.

NewDominion has a couple of offices in the Charlotte, N.C. area, but it’s predominantly an online operation, not a community bank.

None of the other three banks have a brick-and-mortar branch to their name.

But they do offer the best nationally available returns on 1-year certificates of deposit, which are:

1.76% APY with a $5,000 minimum deposit from Melrose Credit Union, which has an unusual open charter that allows all U.S. residents to join for just $1.

1.55% APY with no minimum deposit from Sallie Mae Bank, the online bank owned by the big student loan lender.

1.51% APY with a $3,000 minimum deposit from NewDominion Bank.

1.50% APY with a $500 minimum deposit from Ascencia.

1.50% APY with a $2,500 minimum deposit from Discover Bank, an online bank owned by the credit card company.

1.50% APY with a $250 minimum deposit from H&R Block Bank, an online bank owned by the income tax preparation company.

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

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Comments (3)
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3 Existing Comments
  1. DealMaven said:
    on August 23rd at 01:48 pm

    Check our CD Rates Leaderboard for August 20 to find the top rates on 3-month to 5-year CDs. We checked with the banks this morning and all of the returns on this post are still good.

  2. CrankySaver said:
    on August 23rd at 02:20 pm

    As we had feared, ShoreBank was among the eight banks regulators seized over the weekend, pushing the total number of failed banks to 118 for the year. Don’t miss this or any of the other new posts on our Personal Finance blog. You can always reach it by clicking on the “Finance” tab at the top of every page.

  3. DealMaven said:
    on August 24th at 10:12 am

    Just one day after we posted the top 12-month CD rates, Discover Bank dropped its rate. It now pays 1.45% APY.

    Only two weeks ago five banks paid 1.50% APY. Now there’s two.