bank rates

CD Rates Leaderboard For Jan. 12, 2011

Whoa! Salem Five Bank boosted its 24-month CD rates by a quarter-point this morning.

That makes the Massachusetts-based bank, which has 22 branches just north of Boston, our new leader in 2-year certificates of deposits.

The only drawback to this CD special from Salem Five is that it requires a hefty $10,000 minimum deposit.

Former leader Melrose Credit Union continues to offer 1.66% APY with a $5,000 minimum deposit.

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

TERM BANK RATE MIN. DEPOSIT
3-Month CDs Sanibel Captiva 0.95% APY $1,000
6-Month CDs Bank of Internet USA 1.11% APY $1,000
12-Month CDs Melrose Credit Union 1.41% APY $5,000
Bank of Internet USA 1.41% APY $1,000
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 Melrose Credit Union 2.93% APY $5,000


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

Melrose continues to be 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.)

Sanibel Captiva refers to Sanibel Captiva Community Bank, which has three branches in southwest Florida, and Bank of Internet USA is an online bank based in San Diego.

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

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Comments (7)
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7 Existing Comments
  1. alex finkelstein said:
    on January 12th at 11:53 am

    keep up the good work. you are way ahead of Rate Catcher.

  2. CharleyR said:
    on January 12th at 12:33 pm

    I just tried to open a Salem 5 2-year CD, funded by a maturing CD at OneWest. The Salem 5 web site seems to be in glitch mode–it doesn’t list the 24-month special CD as an available application option, and the bank seems to be shut down because of the snow storm. Anyone else having this problem–or am I simply all thumbs? Oh well, I guess I’ll try later–or tomorrow. Meanwhile, I’ll just go outside and bask in the Southern California sun.

  3. Looking for the Best CD Rates said:
    on January 12th at 02:57 pm

    Really great service. Thanks for keeping on top of this. Is the Bank of Internet rate a two year rate too?

  4. CrankySaver said:
    on January 12th at 04:15 pm

    No, the Bank of Internet rate above the Salem 5 rate in the chart (1.41%) is for 12-month CDs.

  5. CrankySaver said:
    on January 13th at 09:04 am

    These rates were still good when we checked on the morning of Jan. 13.

  6. Looking for the Best CD Rates said:
    on January 13th at 09:43 am

    Okay, Thanks. I see it now.

  7. CharleyR said:
    on January 13th at 10:43 am

    There has been a glitch in the Salem 5 system that has prevented some, but not all, customers from opening the 24-month CD special account online. I’ve been working with an extremely helpful CSR, working out an alternative of using their mail-in application form. She says they are guaranteeing the rate with mailed forms postmarked by 1/18/11.