bank rates

Best 24-Month CD Rates Dip To 2.30% APY

The highest available CD rates on 24-month certificates of deposit have fallen for the fourth straight month.

The top CD rates on 24-month certificates of deposit have fallen for the fourth straight time.

Today’s top rate of 2.30% APY is the result of steady declines beginning with 2.60% in November to 2.50% in December to 2.40% in January — and now this.

And Hudson City Bank is the only one ranked in November that remains on the list, although its rate slid to 2.30% from 2.50%.

The downward trend reflects the descent of the national average rate, which was 1.39% in November and now rests at 1.18% — the lowest its been since Bankrate began tracking those rates in March 1989.

The one positive to take away is that these top rates pay almost double the national average.

The best nationally available 24-month rates are:

2.30 APY with a minimum deposit of $1,000 from Atlantic Coast Bank, which has 12 branches in southeast Georgia and northeast Florida.

2.30 APY with a $5,000 minimum deposit from Hudson City Bank, which has dozens of branches in New Jersey, New York and Connecticut. (If you live near a Hudson City branch the minimum deposit is only $500.)

2.20 APY with a minimum deposit of $1,000 from Fortune Bank, a full-service bank with one location in Arnold, Mo., just outside of St. Louis.

2.20 APY with a $10,000 minimum deposit from Golf Savings Bank, located in Mountlake Terrace, Wash., with 28 branches in Washington, Oregon, Idaho and Montana.

Click here to see how much you can earn with these rates using our certificate of deposit calculator.

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