bank rates

CD Rates Leaderboard For April 11, 2012

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.I’ve written several times lately about the stabilization of rates on our CD Rates Leaderboard.

Through the first couple of weeks of April, that trend appears to be holding. There hasn’t been a rate change at the top of the Leaderboard in a month.

However, that doesn’t mean we aren’t still seeing significant rate cuts from some of the banks competing to offer the best certificates of deposit to savers nationwide.

Virtual Bank, a consistent Leaderboard contender, is one such bank.

Eight months after federal regulators seized its parent bank and sold the assets to Sabadell United Bank of Miami, Virtual Bank has lowered a number of its CD rates to the point that they no longer compete with the best in the country.

Today it cut 24-month CD rates from 1.06% APY to 0.90% APY and 60-month CD rates from 1.66% APY to 1.51% APY.

It marks the third rate cut since March 20.

Its 5-year CDs have declined the most, falling more than a quarter of a percentage point since last month.

The bank ranked near the top in short-term CD rates for much of 2011 and all of 2012 to date, and has been the subject of posts here at Bankaholic since 2006.

For the Leaderboard, we’re still tracking Virtual Bank’s 3-, 6- and 36-month CD rates. But even these terms trail the best nationally available deals by at least a tenth of a percentage point.

Banks qualify for our rankings by accepting deposits from all savers, regardless of where they live, 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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  1. Kathy at Bankaholic said:
    on May 7th at 09:52 am

    Virtual Bank’s rates haven’t changed since this post.