bank rates

CD Rates Leaderboard For July 11, 2013

The top nationally available 60-month bank CD is back to 2.00% APY.

Salem Five Direct has just added a 5-year “eCD Special” that tops our CD Rates Leaderboard.

The online division of Salem, Mass.-based Salem Five Cent Savings Bank already owns or shares the best 24-, and 36-month CD rates.

But with this new offer, 5-year CDs available to all U.S. savers pay 2% for the first time since March.

These CDs are offered through Salem Five Direct, the bank’s online division (www.salemfivedirect.com). A $10,000 minimum deposit is required.

Salem Five’s 24-month CD pays 1.25% APY, while its 36-month CD pays 1.50% APY. Both offer a slight advantage over other top deals.

But the 60-month offer is the real gem, with a yield a full two-tenths of a percentage point better than the next best offer from the New York branch of the State Bank of India.

Founded in 1855 and headquartered in Salem, Salem Five has 23 Massachusetts branches.

There’s one credit union offer available to all U.S. savers on our list of highest CD rates that pays better. Stanford Credit Union offers tiered rates based on your deposit that range from 2.07% APY to 2.22% APY.

But there are hoops to jump with that offer. You’ll have to open a checking account and set up a recurring direct deposit. That’s on top of the fees you’ll have to pay just to join the credit union.

The extra steps you have to take with credit unions is why we like competitive bank offers a bit better. There are no strings.

Banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, either online or through the mail.

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

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  1. SeniorSaver said:
    on July 11th at 12:20 pm

    Salem Five’s 5-year eCD looks good to me, particularly since Ben Bernanke seems to be doing his best to drive down 5- and 10-year Treasury yields again. I’m counting the days until 1/31/14 when he slithers back to Princeton and starts writing another book about the Great Depression.
    Bring back Paul Volcker for an encore!