bank rates

2-Year CDs End 2012 Where They Began

two hands exchanging a dollar billAt the end of 2012, 24-month CD rates are no worse than they were at the beginning.

Unfortunately, they’re no better either.

NexBank ( offers the same top nationally available rate – 1.30% APY – featured for the 24-month term on our first CD Rates Leaderboard of the year.

The division of NexBank Capital Inc., which has two branches in Texas, requires a $10,000 minimum deposit.

Unfortunately, there’s quite a fall off after that.

CIT Bank (, the online consumer bank of CIT Group Inc., which finances small businesses and middle-market companies, pays 1.20% APY.

CIT dropped all of its CD rates recently, but this Achiever CD still allows you to add money to your account once, as well as to bump up the rate once, during the term, should rates increase. It requires a $25,000 minimum deposit.

(CIT Bank also has a standard 24-month CD that pays 1.15% APY with a lesser minimum deposit of $1,000.)

ableBanking (, which is the online division of Northeast Bank, pays 1.19% APY and requires a $1,000 minimum deposit.

MetLife (, which is the insurance giant’s online bank, pays 1.17% APY and requires a $2,000 minimum deposit.

Virtual Bank (, which is the online division of Sabadell United Bank, based in Miami, pays 1.16% APY and requires a $10,000 minimum deposit.

Two banks pay 1.15% APY:

Discover Bank (, which is an online bank owned by the credit card company, requires a $2,500 minimum deposit.

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

The average annual yield that large banks and thrifts pay remains a record low 0.44% this 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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One Existing Comment
  1. FARES said:
    on January 23rd at 02:57 am