bank rates

CD Leaderboard: Best 2-Year CD Rates Gain Co-Leader, 4-Year CD Rates Fall

CD rates Leaderboard

Our CD Rates Leaderboard of the top nationally available bank certificates has seen a little plus-and-minus this morning.

A brand-new contender has not only entered our national CD rankings but has joined the lead for 24-month returns, while the top 48-month yield has taken a substantial fall.

First, let’s welcome Pacific National Bank.

Given the name, you’re easily forgiven for thinking this is a West Coast bank. In fact, it’s in Miami, where it has been operating as Pacific National since 1985.

The name originates from the bank’s founding by Banco Del Pacifico Ecuador (Ecuador lies on South America’s Pacific Coast). But Pacific National is these days fully U.S.-owned and FDIC-insured like all the banks in our national and local rankings.

Pacific National has more than a dozen branches throughout Miami and Dade County and, until recently, operated as a local bank. But it has now opened its CDs to customers nationwide by making them available online.

The offer that gets Pacific National on our Leaderboard is the 1.50% APY it’s paying on 2-year certificates.

That’s enough to match E-Loan at the top of the term, although Pacific National’s minimum is just $1,000 versus E-Loan’s heftier $10,000.

On the losing side of our Leaderboard, EBSB Direct today dropped the 2.13% APY it had been paying on 4-year certificates. It’s now paying 1.50% APY.

An online operation of East Boston Savings Bank, EBSB Direct took the 48-month lead in the middle of May, elevating the term dramatically from 2.00% APY.

Its reduction today takes us back to that same 2.00% APY lead, offered by Bay State Savings Bank.

Located in the Boston suburbs, Bay State’s established date of 1895 makes it perhaps the oldest bank in our CD rankings.

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