bank rates

CD Rates Leaderboard For April 12, 2011

We didn’t expect it to last long and, well, it didn’t.

Tiny Quaint Oak Bank in suburban Philadelphia broke into the CD Rates Leaderboard last week with top nationally available 36- and 60-Month CDs.

At the time, we said Quaint Oak could follow in the path set by other small community banks and quickly lower interest rates after savers caught wind of the deal.

Today, the bank dropped its rates in three terms, which puts Melrose Credit Union back at the top once again.

Another bank on the Leaderboard, The National Republic Bank of Chicago, slashed its CD rates just days after it debuted the top nationally available deal on 3-month CDs.

That distinction once again belongs to California First National Bank, which is paying 0.80% APY.

Here’s where to find all of the top CD rates:

TERM BANK RATE MIN. DEPOSIT
3-Month CDs California First 0.80% APY $5,000
6-Month CDs Aurora Bank 1.08% APY $1,000
12-Month CDs Melrose Credit Union 1.41% APY $5,000
24-Month CDs Melrose Credit Union 1.66% APY $5,000
36-Month CDs Melrose Credit Union 2.17% APY $5,000
60-Month CDs Melrose Credit Union 2.93% APY $5,000


Banks and credit unions qualify for our rankings by selling their certificates of deposit online or through the mail to savers nationwide.

Melrose is one of the few credit unions eligible for our rankings because its unique charter allows anyone to join for only $1, regardless of where they live or work. (You will also be required to hold at least $25 in a savings account.)

The banks on today’s Leaderboard are:

  • California First National Bank, an online bank based in Irvine, Calif.
  • Aurora Bank, the former Lehman Brothers Bank, which is based in Wilmington, Del., and has a branch in Jersey City, N.J.

Compare these returns with the best CD rates from scores of other banks in our database.

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