bank rates

CD Rates Leaderboard For Aug. 6, 2013

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.It’s been nearly a year since we’ve been able to report an increased rate on the top 6-month offer on our CD Rates Leaderboard.

Doral Bank Direct puts an end to that drought today.

Unfortunately, the online division of the leading community bank in Puerto Rico is simply restoring a rate cut from last month.

In other words, 6-month CD rates remain dreadfully low.

Doral Bank Direct (, the online bank of Doral Bank, with five branches in northwest Florida and two in New York City, raised its offer slightly from 0.87% APY to 0.88% APY with a $1,000 minimum deposit. It cut rates by one one-hundredth of a percentage point in late July.

This offer is the best among a pathetic bunch. We continue to recommend skipping short-term CDs in favor of top money market accounts, which continue to pay more than 1% APY.

Banks qualify for our Leaderboard rankings by accepting deposits from all savers, regardless of where they live, either online or through the mail.

We don’t include credit unions because of the restrictions they place in order to open an account.

That doesn’t necessarily make those deals any less valuable (although there are sometimes fees to join); it just means you have to jump through a few more hoops.

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

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