bank rates

CD Rates Leaderboard For August 9, 2011:
Quaint Oak Falls Back Towards The Pack

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.Yesterday I thought we might see a change among the banks offering the best nationally available 36-month CD rates.

And sure enough we have. Just not the change I expected.

I wondered how long MainStreet Bank, through its airbanking.com website, could hold out as the last bank paying 2.00% APY.

But the CD Rates Leaderboard is updated, all of the top nationally available deals are there, and MainStreet is holding firm.

It was Quaint Oak Bank (www.quaintoak.com) that reduced its interest rate from 1.80% APY to 1.70% APY today.

(The small bank with a single branch in suburban Philadelphia, which has been treating savers very well since it broke into our rankings in early April, also reduced its return on 24- and 60-month CDs.)

That leaves Doral Bank Direct (www.doralbankdirect.com), the online operation of the leading community bank in Puerto Rico, as the only bank offering the next-best interest rate of 1.80% APY.

Now I think it’s likely that MainStreet and Doral Direct will fall back towards the eight banks offering between 1.76% and 1.74% APY on 36-month CDs.

Come back later today and we’ll tell you about an Indiana credit union that’s offering its members 2.10% APY on 3-year CDs and 3.00% APY on 5-year CDs.

No bank has offered a national deal like that on 60-month certificates of deposit anytime this year.

That’s why we think local deals rock.

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