bank rates

6-Month CD Rates Start 2012 By Falling

You'll earn 0.85% APY with the best-paying 6-month CD.The top 6-month CD rates on our CD Rates Leaderboard now pay 0.85% APY.

That term rang in 2011 at 1.11% APY and didn’t dip under 1% until October.

But 6-month CDs still performed as bad as any term we track, falling 21% last year.

Here’s hoping 2012 will be a bit better.

Our current lead rate is an offering of Virtual Bank (www.virtualbank.com), the online division of Lydian Private Bank, based in Palm Beach, Fla., that requires a $10,000 minimum deposit.

Stonebridge Bank (www.stonebridgebank.com) also offered that rate but dropped down to 0.80% APY last week. Stonebridge has four branches in suburban Philadelphia and requires a $500 minimum deposit.

The next-highest rate is just 0.76% APY, from AloStar Bank of Commerce (www.alostarbank.com), an online bank based in Birmingham, Ala., which requires a $1,000 minimum deposit.

Eight banks offer 0.75% APY:

Acacia Federal Savings Bank (www.acaciafederal.com), an online bank owned by Acacia Life Insurance Co. based in Falls Church, Va., which requires a $500 minimum deposit.

Ascencia (www.ascenciabank.com), the online division of PBI Bank in Louisville, Ky., which requires a $500 minimum deposit.

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

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

Doral Bank Direct (www.doralbankdirect.com), the online bank of Doral Bank, the leading community bank in Puerto Rico, with five branches in northwest Florida and two in New York City, which requires a $1,000 minimum deposit.

First Internet Bank of Indiana (www.firstib.com), an online bank located in Indianapolis, which requires a $1,000 minimum deposit.

OneWest Bank (www.owb.com), which has 82 branches in southern California and requires a $1,000 minimum deposit.

Sanibel Captiva Community Bank (www.sancapbank.com), which has three branches in southwest Florida and requires a $1,000 minimum deposit.

Large banks and thrifts are offering an annual average yield of 0.22% for 6-month CDs this week.

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 January 15th at 10:22 am

    All of these rates are still available.

  2. g schneider said:
    on January 16th at 02:48 pm

    which are better reits or mutual funds i posed the prgunta to jerry pilsner but to my sorpresa n response