bank rates

CD Rates Leaderboard For Dec. 24, 2012

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.The month of December has gone from bad to worse for 1-year CD rates.

Merry Christmas.

The month began with three nationally available deals that paid 1.10% APY or better. Today there are none, thanks to the latest cut, this from online bank AloStar Bank of Commerce.

The top deal on our CD Rates Leaderboard now pays 1.05% APY.

You can find that deal from six different banks, although one of these deals stands out from the rest.

We most like the offer from CIT Bank (www.bankoncit.com), the online consumer bank of CIT Group Inc., which finances small businesses and middle-market companies.

Although its 12-month CD requires a hefty $25,000 minimum deposit, this Achiever CD allows you to raise the rate once if the rate goes up during the term, as well as add to your deposit once. This means that you can hedge your investment if rates continue to fall or in the unlikely event that they increase during the next year.

Here are the other banks that pay 1.05% APY:

ableBanking (www.ablebanking.com), the online division of Northeast Bank in Maine, requires a $1,000 minimum deposit.

Colorado Federal Savings Bank (www.coloradofederalbank.com), an online bank based in Greenwood Village, Colo., requires a $5,000 minimum deposit.

MetLife (www.metlifebank.com), the insurance giant’s online bank, requires a $25,000 minimum deposit.

NexBank (www.nexbank.com), a division of NexBank Capital Inc. with two branches in Texas, requires a $10,000 minimum deposit.

Sallie Mae Bank (www.salliemae.com), an online bank owned by the student lender with a single branch in Murray, Utah, requires a $2,500 minimum deposit.

With its most recent cut, AloStar no longer ranks among the top deals in the country and has been removed from our list.

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

Compare this return with the best CD rates from scores of banks in our extensive database.

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