bank rates

CD Rates Leaderboard For Feb. 20, 2014

We have a bunch of changes at the top of our CD Rates Leaderboard today, and none of it is good news.

That’s because AloStar Bank of Commerce, an online bank based in Birmingham, Ala., cut rates on several of its terms today, knocking it out of the top spot among nationally available 12- and 24-month CDs.

A whopping six banks now own the top 12-month CD rate of 1.05% APY, down from 1.10% APY. And the best 24-month CD now pays 1.20% APY, down from 1.25% APY.

CIT Bank (, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies, offers that rate on its 2-year Achiever CD. With a $25,000 minimum deposit on this certificate of deposit, you can increase your rate once if yields rise during the term and add to your deposit once.

Here’s where you can get the top 1-year CDs:

  • AmTrust Direct (, one of two online banks that are divisions of New York Community Bank, which has 240 branches in five states, requires a $500 minimum deposit.
  • CapitalSource Bank (, a Los Angeles-based lender to small and middle-market business, which has 21 branches in central and southern California, requires a $10,000 minimum deposit.
  • DollarSavingsDirect (, an online division of Emigrant Bank, which has two New York-area branches, one in Manhattan and the other in suburban Ossining, N.Y., requires a $1,000 minimum deposit.
  • GE Capital Bank ( which is one of two online banks, each with its own FDIC insurance, that are subsidiaries of GE Capital Corp., the financial services unit of the manufacturing giant, requires a $500 minimum deposit.
  • GE Capital Retail Bank (, the other bank that’s a subsidiary of GE Capital Corp., which requires a $25,000 minimum deposit.
  • CIT Bank (, offers one of its Achiever CDs for the 12-month term. With a $25,000 minimum deposit, you can raise the rate once during the term, as well as add to your deposit once.

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

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