bank rates

CD Rates Leaderboard For April 10, 2013

Here we go again.

The National Republic Bank of Chicago has fiddled with its 60-month CD rates for the fourth time in the last five weeks, this time cutting rates by more than two-tenths of a percentage point.

The cut means this commercial bank with two Chicago branches once again loses its place on top of our CD Rates Leaderboard.

And once again, the best nationally available deal is offered by two banks, which both pay 1.85% APY:

Barclays (www.banking.barclaysus.com), which is the online American operation of the big British bank, has no minimum balance requirement.

Green Bank (www.greenbank.com), which is an eco-friendly bank with 12 locations in Texas, requires a $1,000 minimum deposit.

In 2013, 5-year certificates of deposit have been the least stable of the terms we follow, with seven rate changes at the top. At their high, the best nationally available 60-month CDs paid 2.05% APY; the 2013 low was 1.80% APY.

Chart showing the 2013 rate changes for 60-month CDs

With its most recent cut to 1.66% APY, National Republic Bank (www.nrbchicago.com) now offers the fifth-best nationally available deal.

The two other banks with better deals pay 1.70% APY:

CIT Bank (www.bankoncit.com), the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies, requires a $1,000 deposit.

Nationwide Bank (www.nationwide.com), which is an online bank owned by Nationwide Mutual Insurance Company and its affiliates, requires a $500 minimum deposit.

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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