bank rates

CD Rates Leaderboard For Jan. 29, 2011

January was a pretty good month for CD rates — at least by the dismal standard of the past few years.

Yes, it was the 27th straight month of declining returns. And yes, four of the six rates we track are ending January at record lows.

But the average yield on 3-, 24- and 36-month certificates of deposit only fell by one-hundredth of a percentage point according to Bankrate’s survey of major banks taken last week.

The average 6-month and 1-year CD rates were unchanged and the 5-year rate actually rose from 1.56% APY to 1.59% APY.

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

TERM BANK RATE MIN. DEPOSIT
3-Month CDs Five banks 0.75% APY $250 to $10,000
6-Month CDs Colorado Federal 1.10% APY $5,000
12-Month CDs Melrose Credit Union 1.41% APY $5,000
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.)

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

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  1. Nancy Goodenow said:
    on February 3rd at 09:24 pm

    Do not forget to check out the penalty for early withdrawal. At least with Ally it is only 2 or 3 months, that is what I was told by them. Melrose is longer. On a 5 year CD, the problem is the market may change and rates go up and you may want to remove funds and start a new CD.