bank rates

CD Rates Leaderboard For April 29, 2011

Two weeks ago, federal regulators seized Nexity Bank, which had been in peril for years over bad residential and commercial real-estate loans.

Now its new owners have boosted its 6-month CD rates to 1.12% APY from 1.07%, putting it at the top of our CD Rates Leaderboard.

Birmingham-based AloStar Bank of Commerce “was established…specifically to acquire Nexity Bank” after the FDIC seized Nexity on April 15, according to the new bank’s website. It immediately took control of all Nexity deposits.

AloStar is being led by the former chief credit officer and vice chairman of Wells Fargo Bank.

You’ll need a minimum deposit of $1,000 to get this nationally available deal.

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

TERM BANK RATE MIN. DEPOSIT
3-Month CDs Hudson City Savings 0.75% APY $500
Nexity Bank 0.75% APY $1,000
6-Month CDs Nexity Bank 1.12% APY $1,000
12-Month CDs Melrose Credit Union 1.41% APY $5,000
24-Month CDs Salem Five Bank 1.75% APY $10,000
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:

  • Hudson City Savings, which has 130 branches in New Jersey, New York and Connecticut.
  • Salem Five Savings Bank, which has 22 branches north of Boston.

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

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