bank rates

CD Rates Leaderboard For Aug. 16, 2013

Nearly a month to the day after iGObanking took over the top spot on our CD Rates Leaderboard with its 60-month offer, the online division of Flushing Bank in New York is back in the lead.

But only because EverBank slashed its rate today by a full two-tenths of a percentage point, from 2.06% APY to 1.86% APY.

Aside from losing one of four nationally available deals that pay at least 2% APY, EverBank’s rate cut isn’t a huge deal.

That’s because iGObanking ( pays 2.05% APY with a $1,000 minimum deposit.

We’re frankly surprised iGObanking’s offer has lasted this long, as this bank has shown a tendency to cut rates just as quickly as it raises them.

We’re not complaining, though.

The other 2% options:

  • Salem Five Direct (, which pays 2.00% APY with a $10,000 minimum deposit. This is the online division of Salem Five Bank, which has 23 branches just north of Boston.
  • The New York branch of the State Bank of India ( pays 2.00% APY with a $5,000 minimum deposit. This branch of the largest bank in India operates independently of other U.S. branches.

On a more minor note, EverBank also cut its 3-month CD rate today and no longer leads that term. Three banks now tie for the top offer of 0.45% APY: GE Capital Retail, AloStar Bank of Commerce and OneWest.

GE Capital Retail Bank (, which is one of two online banks, each with its own FDIC insurance, that are subsidiaries of GE Capital Corp., the financial services unit of the manufacturing giant, requires a $25,000 minimum deposit.

AloStar Bank of Commerce (, which is an online bank based in Birmingham, Ala., requires a $1,000 minimum deposit.

OneWest Bank (, which has 73 branches in Southern California, requires a $1,000 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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