bank rates

Banks Bunch At Top Of 6-Month CD Rates

We don’t see a crowd like this very often.

Ten banks are vying to offer the best nationally available 6-month CD rates with only five-hundredths of a percentage point separating them.

It really doesn’t matter which one you pick, the difference in what you’ll earn is less than $1 over the course of the six-month term for every $1,000 you invest.

For what it’s worth, Bank of Internet is the new leader, paying 1.15% APY with a minimum deposit of $1,000.

The online bank based in San Diego is offering exactly what the old leader, Aurora Bank was paying.

But Aurora, with offices in Wilmington, Del., and Jersey City, N.J., reduced its rate to 1.14% APY, also with a $1,000 minimum deposit.

(Why do banks cut their rate by one-hundredth of a percentage point? We don’t know.)

Nexity Bank, an online bank based in Birmingham, Ala., is paying 1.13% APY with a $500 minimum deposit.

The next three banks pay 1.11% APY:

Ascencia, the online division of PBI Bank in Louisville, Ky., with a minimum deposit of $500., the online division of Landmark Bank in Ft. Lauderdale, Fla., with a minimum deposit of $2,500.

Virtual Bank, the online division of Lydian Private Bank in Palm Beach Gardens, Fla., with a $10,000 minimum deposit.

Four more banks are offering 1.10% APY:

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

NewDominion Bank, a predominantly online bank with branches in Charlotte and Mooresville, N.C., and a minimum deposit of $3,000.

OneWest Bank, which has 73 branches in Southern California, and a minimum deposit of $1,000.

Nationwide Bank, the online bank of the big insurance company, with a minimum deposit of $500.

These banks qualify for our rankings by allowing savers to buy certificates of deposit over the Internet with no restrictions on where they must live or work.

Click here to compare these deals with the best CD rates from dozens of other banks in our database.

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Comments (1)
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One Existing Comment
  1. DealMaven said:
    on October 27th at 09:25 am

    Nationwide Bank lowered its rate on the 6-month CD to 1.05% APY from 1.10% APY. Everyone else is still good.