bank rates

CD Rates Leaderboard For Feb. 14, 2013

This is getting strange.

The top 36-month offer and the top 60-month offer on our CD Rates Leaderboard pay exactly the same.

You’ll earn 1.85% APY on each deal.

This is the result of a bank new to our Leaderboard — Live Oak Bank — offering yields well above other nationally available offers and a rate cut today from our 5-year leader.

Texas-based Green Bank cut its 60-month rate by a tenth of a percentage point and now is tied at the top of our Leaderboard with the American online operation of Barclays, the big British bank.

This is full-moon kind of weird.

The chart below illustrates just how strange this week has been for CD rates.

Chart showing top 3 and 5 year cd rates

Since the beginning of 2011, the best nationally available deal in each term has been separated by more than two-thirds of a percentage point and as little as about a third of a percentage point.

Until this week.

What’s more, Live Oak Bank has a 48-month CD offer (we don’t track 4-year CDs for our Leaderboard) that pays better than any nationally available 60-month bank certificate of deposit.

It pays 2% APY.

Strange days indeed.

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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