bank rates

12-Month CDs: 6 Banks Pay 1% Or More

Calculator on top of a pile of moneySpring may have sprung, but it’s obvious that 12-month CD rates didn’t get the memo.

They’re down again, with the term’s lead rate on our CD Rates Leaderboard back to where it started off 2013.

Three banks pay 1.05% APY:

CIT Bank (, the online consumer bank of CIT Group Inc., which finances small businesses and middle-market companies, offers one of its Achiever CDs for the 12-month term.

With $25,000 minimum deposit, you can raise the rate once during the term as well as add to your deposit once.

GE Capital Retail Bank (, an online bank that is a subsidiary of GE Capital Corp., the financial services unit of the manufacturing giant, requires a $25,000 minimum deposit.

NexBank (, which is a division of NexBank Capital Inc. and has two branches in the Dallas area, requires a $10,000 minimum deposit.

Three banks pay the second-highest rate of 1.00% APY.

Colorado Federal Savings Bank (, which is an online bank based in Greenwood Village, Colo., requires a $5,000 minimum deposit.

Nationwide Bank (, which is an online bank owned by Nationwide Mutual Insurance Company and its affiliates, requires a $500 minimum deposit.

OneWest Bank (, which has 73 branches in Southern California, requires a $1,000 minimum deposit.

The current average annual yield offered by big banks and thrifts for the 12-month term is 0.26% for the sixth week.

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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