bank rates

4 Banks Boost 6-Month CD Rates

calculator and a penWe’ve finally seen some upward movement in 6-month CD rates.

The top nationally available offer on our CD Rates Leaderboard has made it back to 0.90% APY for the first time since Jan. 28.

That hike is thanks to newcomer CapitalSource Bank ( The Los Angeles-based lender to small and middle-market businesses, which has 21 branches in central and southern California, requires a $1,000 minimum deposit.

And this isn’t the only change over the last month. Three other banks have increased their 6-month CD rates, as well.

Chart showing the top and average 6-month cd rates

Former leader Doral Bank Direct (, 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, continues to pay 0.87% APY with a $500 minimum deposit.

EH National Bank (, which has a single branch in Beverly Hills, Calif., now pays the third-best rate of 0.85% APY with a $10,000 minimum deposit.

GE Capital Bank (, which is one of two online banks, each with its own FDIC insurance, that are subsidiaries of GE Capital Corp., the financial services unit of the manufacturing giant, raised its rate to 0.83% APY and requires a $500 minimum deposit.

Pacific Mercantile Bank (, which has seven branches in southern California, also increased its rate, to 0.77% APY and requires a $10,000 minimum deposit.

AloStar Bank of Commerce (, which is an online bank based in Birmingham, Ala., pays 0.75% APY and requires a $1,000 minimum deposit. It is the fourth of the banks we track that increased rates in the last month.

The current average annual yield offered by big banks and thrifts for the 6-month term remains a record low 0.14%.

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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