bank rates

Best 5-Year CD Rates Float Along Near 3%

It seems the top nationally available 60-month CD rates are already in the summer doldrums.

The current average yield offered by big banks and thrifts has drifted back down to 1.69% this month.

On the CD Rates Leaderboard, we’re still waiting for someone to dive in and offer 3% again.

(We’re not going to count American Savings Bank’s recent appearance, since it only lasted an hour.)

The current top nationally available rate for 60-month CDs has been 2.93% since April 12.

Melrose Credit Union (, which has a single office in New York City, has long-owned that rate and requires a $5,000 minimum deposit.

The next best 60-month CD rates are:

2.80% APY at Sovereign Bank (, which is owned by Spanish financial giant Santander and requires a $500 minimum deposit.

2.75% APY at Danversbank (, which has more than 30 branches in the Boston area and requires a $500 minimum deposit.

2.60% APY at Quaint Oak Bank (, a suburban Philadelphia bank with a single location; it requires a $500 minimum deposit.

2.55% APY at OneWest Bank (, which has 82 branches in southern California and requires a $1,000 minimum deposit.

These banks and credit unions 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.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (2)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 4.00 out of 5)
2 Existing Comments
  1. Kathy at Bankaholic said:
    on June 8th at 08:57 am

    OneWest has dropped its 60-month CD rate to 2.45% APY.

  2. Kathy at Bankaholic said:
    on June 24th at 08:08 am

    Quaint Oak has increased its 60-month rate to 2.85% APY, and OneWest’s rate has fallen to 1.35% APY. The other rates are still offered as of today.