bank rates

7 Banks Compete On 1-Year CD Rates

Top national deal pays 1.15% APY.You’ll now find only seven banks that offer 12-month CD rates above 1%.

Doral Bank Direct continues to lead the 12-month term on our CD Rates Leaderboard with its long-standing offering of 1.15% APY.

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, Doral Bank Direct ( requires a $1,000 minimum deposit.

CIT Bank Bank ( pays the second-highest rate of 1.10% APY for its Achiever CD, which requires 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’s standard 12-month CD, which has no bells and whistles, pays 1.06% APY with a much lower $1,000 minimum deposit.

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.

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 1.04% APY and requires a $10,000 minimum deposit.

Ally Bank (, an online bank based in Charlotte, N.C., pays 1.03% 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 0.32% APY.

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 June 26th at 08:46 am

    EH National Bank has dropped its 12-month rate slightly to 1.03% APY. And Ally is now paying 1.02% APY on its 1-year CD.