bank rates

Another Bank Surges To Top Of 2-Year CDs

A second Florida bank has claimed a spot at the top of our rankings of the best 2-year CD rates.

CSB Direct boosted the return on its time deposits from 1.01% APY to 1.26% APY with a very reasonable $1,000 minimum deposit.

That’s the online division of Citizens State Bank, which has branches in four north Florida towns – Gainesville, Madison, Perry and Steinhatchee.

It joins EverBank, which is based in Jacksonville, at the top of our CD Rates Leaderboard.

Together, they’re now offering the best deals we’ve seen this year on 24-month CDs.

In fact, we haven’t seen any nationally available deals paying better than 1.25% APY since May 2013, or more than 14 months ago.

During one long stretch of late winter and early spring – think February, March and April – the top banks on our Leaderboard were offering as little as 1.05% APY.

That makes this a welcome, although modest, summer rebound.

With the average return on these CDs stuck at a record-low 0.36% APY, it also gives savers the chance to make 3.5 times more than the typical return.

To qualify for our rankings, banks must sell their CDs to savers nationwide, either online or by mail.

We are currently tracking 26 banks that pay at least 1.10% APY. Click here to see our complete rankings of the best 24-month CD rates.

Or go to our database of the best CD rates for all terms to find the investment that’s right for you.

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