bank rates

2 Banks Own Best 12-Month CD Rates

Earn 1.10% APY from the top banks.Although 12-month CD rates took a slight hit in mid-July, at least we now have two banks that offer the top rate on our CD Rates Leaderboard.

So, with any luck, that 1.10% APY will be around for a while.

Co-leader No. 1, Doral Bank Direct (, had led the term alone earlier in the summer. The online bank of Doral Bank, the leading community bank in Puerto Rico, which also has five branches in northwest Florida and two in New York City, requires a $1,000 minimum deposit.

Co-leader No. 2, CIT Bank Bank (, offers one of its two Achiever CDs for this term, which require a $25,000 minimum deposit.

The online consumer bank of CIT Group Inc., which finances small businesses and middle-market companies, allows you to raise the rate once on this CD if the rate goes up during the term, as well as add to your deposit once.

(CIT Bank also has a standard 12-month CD that pays 1.06% APY with a $1,000 minimum deposit.)

Two banks also pay 1.05% APY:

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

MetLife (, which is the insurance giant’s online bank and requires a $25,000 minimum deposit.

EH National Bank (, which has a single branch in Beverly Hills, Calif., pays 1.03% APY and requires a $10,000 minimum deposit.

Ally Bank (, an online bank based in Charlotte, N.C., pays 1.02% APY and requires no minimum deposit.

AloStar Bank of Commerce (, which is an online bank based in Birmingham, Ala., pays 1.01% APY and requires a a $1,000 minimum deposit.

The current average annual yield offered by big banks and thrifts for the 12-month term is 0.31%.

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. Kathy at Bankaholic said:
    on August 13th at 06:11 am

    EH National Bank has dropped its 12-month CD rate to 1.02% APY. And Ally Bank has raised its 12-month rate to 1.04% APY.