bank rates

CD Rates Leaderboard For Dec. 14, 2011

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.The Federal Reserve this week reaffirmed the bad news it delivered to savers earlier this year, but at least it didn’t make things any worse.

Its rate-setting committee met for the final time in 2011 on Tuesday. It left the meeting declaring that the “economy has been expanding moderately.”

However, the improvement to the economic outlook wasn’t enough to cause the Fed to back off its August announcement to hold interest rates at record lows at least through mid-2013.

Indeed, the rate-setting committee restated its intention to maintain the status quo.

That reaffirmation shouldn’t trigger a huge decline in CD rates like that which occurred following its summer blow to savers.

We’ve seen a bit of settling since the fallout from that episode ended. In fact, we haven’t had a change at the top of our CD Rates Leaderboard in nearly a month.

There have been plenty of little shifts among the banks we’re watching, but none of our leaders has budged on its rates.

That trend continued today with Stonebridge Bank, which has four branches in suburban Philadelphia, cutting its 12- and 24-month CD rates.

Here are the term leaders:

3-month CD rates
Goldwater Bank (, which has a single location in Scottsdale, Ariz., pays 0.80% APY with a $5,000 minimum deposit.

6-month CD rates
Goldwater also has the top 6-month certificates of deposit at 0.88% APY.

12-month CD rates
Two banks offer the top 12-month CDs at 1.15% APY:
CIT Bank ( is the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies. It requires a $25,000 minimum deposit. Its rate applies to an Achiever CD, which allows you to raise the rate once if CD rates increase during the term and to add to your deposit at any time.
Doral Bank Direct ( is the online bank of Doral Bank, the leading community bank in Puerto Rico, which also has five branches in northwest Florida and two in New York City. It requires a $1,000 minimum deposit.

24-month CD rates
Three banks offer the top 2-year CDs at 1.30% APY:
American Express Bank ( is an online bank owned by the credit card company. It requires no minimum opening deposit.
Goldwater Bank requires a $5,000 minimum deposit.
CIT Bank requires a $1,000 minimum deposit.

36-month CD rates
Doral Bank Direct pays 1.65% APY with a $1,000 minimum deposit.

60-month CD rates
Quaint Oak Bank (, a suburban Philadelphia bank with one branch, pays 2.20% APY with a $500 minimum deposit.

Banks qualify for our rankings by accepting deposits from all savers, regardless of where they live, 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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Comments (1)
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One Existing Comment
  1. Mike Cetera said:
    on December 15th at 10:38 am

    Goldwater Bank has dropped its 24-month CD rates to 1.29% and is no longer the co-leader in this term.