bank rates

CD Rates Leaderboard For Feb. 28, 2011

The 27-month streak of declining returns has ended.

For the first time in more than two years, none of the six CD rates we track fell during February.

Although average yields on four of the six CD rates held at or near record lows, two other rate terms ended the month higher than they began, according to Bankrate’s survey of major banks.

Average rates on 36-month certificates of deposit rose to 1.06% APY from 1.05% APY, while average 60-month rates rose more than a tenth of a point to 1.72% APY from 1.59% APY.

And the rates found in our CD Rates Leaderboard rose during February in four of the six terms we track.

Here’s where to find all of the best nationally available CD rates:

TERM BANK RATE MIN. DEPOSIT
3-Month CDs California First 0.80% APY $5,000
6-Month CDs Metropolitan National 1.15% APY $1,000
12-Month CDs Incrediblebank 1.45% APY $10,000
24-Month CDs Salem Five Bank 1.75% APY $10,000
36-Month CDs Melrose Credit Union 2.17% APY $5,000
60-Month CDs Kaiser Federal Bank 3.00% APY $10,000


Banks and credit unions qualify for our rankings by selling their certificates of deposit online or through the mail to savers nationwide.

Melrose is one of the few credit unions eligible for our rankings because its unique charter allows anyone to join for only $1, regardless of where they live or work. (You will also be required to hold at least $25 in a savings account.)

The other banks on today’s Leaderboard are:

  • California First National Bank, an online bank based in Irvine, Calif.
  • Metropolitan National Bank, which has three branches in Manhattan and one in Brooklyn, N.Y.
  • Incrediblebank, the online division of River Valley Bank, based in Wausau, Wis.
  • Salem Five, which has 22 branches north of Boston.
  • Kaiser Federal Bank, which has nine branches in the Los Angeles area. Kaiser previously shared the top Leaderboard spot with Wyomissing, Pa.-based Sovereign Bank, which dropped its rates this week to 2.80%.

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

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Comments (4)
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4 Existing Comments
  1. Whitney Lewis said:
    on March 1st at 08:05 pm

    Just a note to say that I just got a CD from Ft. Knox Credit Union here in Kentucky at a 2.25% APY. Looks like it might be at the top.

  2. Whitney Lewis said:
    on March 1st at 08:08 pm

    Just a note to say that I just got a CD from Ft. Knox Credit Union here in Kentucky at a 2.25% APY. Looks like it might be at the top.

    Forgot to say that the CD was a 36 Month CD.

  3. "Mr. T" Whitaker said:
    on March 2nd at 01:25 am

    F.Y.I. — I rolled-over my Traditional IRA and also opened a ROTH IRA at Kaiser Federal Bank last week, to take advantage of their 3% APY (on 5 year CDs). While I was unpleasantly surprised to learn they charge a $15. per year / per account “service fee” on these IRAs, (the total cost for my two 5 year CD accounts will be $150.), …. I was very impressed with the outstanding customer-service at their Riverside California branch. I’d recommend them if you want decent interest, and good customer service.

  4. JCDI said:
    on March 4th at 08:12 am

    I had never heard of Kaiser Federal Bank so I hopped on over to their site. They use to be a credit union. Only a handful of credit unions have successfully made the move to an FDIC insured bank. They look quite healthy on the FDIC stats page.