bank rates

3 Banks Compete For Top 1-Year CD Rates

Top 12-month CD pays 1.15% APY.Although two banks offer the top 12-month CD rates on our CD Rates Leaderboard, the bank with the second-highest rate may be your best bet.

Sure, Doral Bank Direct and KeySource Commercial Bank both pay 1.15% APY, the highest rate we’ve seen for this term in 2012.

But former co-leader CIT Bank (, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies, allows you to raise the rate once if the CD rate goes up during the term and add to your deposit at any time.

So even though that rate is a lower 1.08% APY, you have some hope for getting a better rate in the future.

(Fingers and toes crossed.)

At $25,000, the minimum deposit for CIT Bank’s Achiever CD is steep.

Doral Bank Direct (, the online bank of Doral Bank, the leading community bank in Puerto Rico, only requires a $1,000 minimum deposit.

KeySource Commercial Bank (, which has a single branch in Durham, N.C., requires a $100 minimum deposit for CDs purchased in person, over the phone or through the mail, and a $5,000 minimum deposit if purchased online.

Two banks pay 1.05% APY:

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

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

The average yield offered by big banks and thrifts for the 12-month term remains 0.34%.

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 (2)
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2 Existing Comments
  1. Kathy at Bankaholic said:
    on February 23rd at 10:14 am

    These rates are all still available.

  2. Kathy at Bankaholic said:
    on March 5th at 09:43 am

    You can still get all of these rates.