bank rates

CD Rates Leaderboard For July 11, 2012: And Then There Was One Top 60-Month CD

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.State Bank of India, which makes the rare disclosure that it changes rates on Wednesdays, has just cut its 60-month offer.

That means The National Republic Bank of Chicago sits alone at the top of our CD Rates Leaderboard.

It pays 1.91% APY on 5-year certificates of deposit.

National Republic Bank (www.nrbchicago.com), which has two branches in the city, requires a $1,000 minimum deposit.

The New York branch of the State Bank of India (www.statebank.com) now offers the second-best nationally available deal at 1.85% APY.

With the top nationally available bank rates on 5-year CDs below 2%, you might want to consider buying a certificate from a credit union or local bank.

Fort Knox Credit Union (www.fkfcu.org) has the top 5-year deal on our list. (Actually, it’s a 59-month term.) It pays 2.25% APY.

Anyone in the country can join this credit union by joining the American Consumer Council, which is free. Credit union membership costs $15.

We also list 27 local deals that top what’s available to savers from all 50 states. See if you can find a deal in your area.

Banks qualify for our Leaderboard rankings by accepting deposits from all savers, regardless of where they live, either online or through the mail.

We don’t include credit unions because of the restrictions they place in order to open an account.

That doesn’t necessarily make these deals any less valuable (although there are sometimes fees to join); it just means you have to jump through a few more hoops.

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

Have you ever opened a deposit account at The National Republic Bank of Chicago? Share your experience below by making a comment below.

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