bank rates

A Bright Spot In 2012: 6-Month CDs

Dollar signThe 6-month term has the distinction of being the only standard term set to end 2012 with a higher lead CD rate than it began the year with on our CD Rates Leaderboard.

At this point, that’s only by two one-hundredths of a percentage point, but, as we’ve said before, a win is a win in today’s CD game.

Current leader Doral Bank Direct (www.doralbankdirect.com), the online bank of Doral Bank, the leading community bank in Puerto Rico that also has five branches in northwest Florida and two in New York City, recently dropped its rate slightly, again, to 0.90% APY with a $1,000 minimum deposit.

Two banks continue to offer the second-best rate of 0.80% APY:

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

Giant Bank (www.giantbank.com), which is the online division of Landmark Bank, requires a $2,500 minimum deposit.

Ascencia (www.ascenciabank.com), which is the online division of PBI Bank in Louisville, Ky., pays 0.78% APY with a $500 minimum deposit.

AloStar Bank of Commerce (www.alostarbank.com), which is an online bank based in Birmingham, Ala., pays 0.76% APY and requires a $1,000 minimum deposit.

Three banks are offering 0.75% APY:

ableBanking (www.ablebanking.com), which is the online division of Northeast Bank, requires a $1,000 minimum deposit.

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

Presidential Bank (www.presidential.com), which has two branches in Maryland, six in Virginia and one in Washington, D.C., requires a $1,000 minimum deposit.

Large banks and thrifts are currently offering an annual average yield of 0.18% APY for 6-month CDs.

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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